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The global decaffeinated tea market is projected to witness a steep rise during the forecast years, due to various health benefits associated with the consumption of decaffeinated tea. High tea addiction among consumers in Asia and North America is expected to boost the growth of decaffeinated tea market, as consumers are looking for healthy tea & coffee alternatives to prevent diseases and stay healthy.
Key companies operating in the global decaffeinated tea market are focusing on the launch of innovative products along with expanding their global reach to remain prominent in the global market. Novo Agriculture Limited (India), Jayanti Group (India), and Elixir Biosciences Private Limited (India) are some of the key companies performing in the global decaffeinated tea market.
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Decaffeinated tea, which is also termed as decaf tea is tea with the negligible presence of caffeine within it. The caffeine is not completely absent in decaffeinated tea, however, it has very less caffeine content, hence the product is highly suitable for people with caffeine sensitivity. Methylene chloride decaffeination, CO2 decaffeination, ethylene acetate decaffeination, and others are some of the widely used decaffeination method used to prepare decaffeinated tea.
Rising prevalence of obesity and diseases such as diabetes, cardiovascular diseases, and others is projected to fuel the demand for decaffeinated tea during the forecast years, as the product has potential to offer cardiovascular and other health benefits. Presence of antioxidants in decaffeinated tea, coupled with increasing consumer inclination towards caffeine-free and health drinks is projected to further impact the global caffeinated tea market positively during the forecast years. Increase in a number of market players, especially across developing economies is anticipated to aid in strengthening the supply chain system for caffeinated tea, which in turn is expected to drive the decaffeinated tea market growth.
The high cost of decaffeinated tea as compared to regular tea is expected to restrain the decaffeinated tea market during the forecast years. High consumer inclination towards caffeinated tea across some major tea consuming countries is further projected to hinder the market growth for decaffeinated tea.
Some of the major companies that are present in the global decaffeinated tea market are AVT Natural Products Limited, Tetley Inc., Jayanti Group, Celestial Seasonings Inc., Martin Bauer GmbH & Co. KG, Novo Agriculture Limited, Elixir Biosciences Private Limited, Da Internationals, YOGI TEA GmbH, and Indian Products Ltd. among the other players operating in the global decaffeinated tea market.
· Dietary Supplements
By Distribution Channel
· Online Retailers
· Store-based Retailers
Ø Convenience Stores
Ø Grocery Stores
· North America (USA, Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of ME&A)
On the basis of nature, the global decaffeinated tea market has been segmented into conventional and organic. The organic segment is expected to expand at a considerable pace during the forecast years, due to growing consumer inclination towards organic and natural products. The conventional decaffeinated tea segment is anticipated to hold a significant market share due to the affordable price of the product.
On the basis of the distribution channel, the global decaffeinated market has been segmented into B2C, B2B, Online retailers, and store-based retailers. Store-based retailers segment is further divided into hypermarket/supermarket, convenience stores, grocery stores, and others. The store-based retailer segment is projected to dominate the other segments owing to high consumer dependency on store-based retailers.
Europe is anticipated to hold the major market share in the global decaffeinated tea market, owing to wide demand and consumption of the product in the region. High addiction to tea in prominent European countries such as Spain & Germany, coupled with high health awareness among people is anticipated to fuel the growth of caffeinated tea market in the forthcoming years. The Asia Pacific is projected to grow at a significant pace during the forecast period, due to the presence of countries such as India, China, and Pakistan, where the demand for decaffeinated tea and drink is increasing rapidly attributed by increasing health concerns.
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