Increasing preference for healthy alternatives to traditional variants of tea is expected to drive the global market growth. Fortune Business Insights provides key market information in its report, titled “Decaffeinated Tea Market Size, Share and Global Trend By Nature (Conventional, Organic), By End-use (Beverages, Dietary Supplements, Household), By Distribution Channel (B2C, B2B, Online Retailers, Store-based Retailers), and Geography Forecast Till 2026.” The report shares valuable insights and contains an in-depth market analysis of the key factors influencing the market.
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Top Key Players Covered:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the global Decaffeinated Tea market. Some of the companies operating the global 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
- Indian Products Ltd.
High Cost of Decaf Tea May Lead to Restrained Market Growth
Compared to regular tea, decaffeinated tea is more expensive as it is prepared using natural processes. Prolonged preparation periods increase the production cost, which marks up the retail price of the product. Moreover, traditional tea drinkers still prefer to drink regular tea with milk and therefore, the global decaf tea market is yet to find a solid ground in key regions.
Furthermore, decaf tea can also contain undesirable chemicals such as ethyl acetate, which are also the most affordable methods of decaffeinating tea. This may make consumers wary of buying decaf tea, thereby hampering the global decaffeinated tea market.
Product Innovation and Acquisitions to Spur Market Competition
The global decaffeinated tea market is anticipated to witness intense competition as key market players aim to gain a competitive edge through innovative products and strategic acquisitions. For example, in March 2019, Martin Bauer announced the acquisition of BI Nutraceuticals in a bid to diversify their product portfolio and gain greater market presence in the US. In June 2019, Tetley released its “Sleep Easy” tea bags that contain decaffeinated tea along with sleep-inducing ingredients such as vanilla and lavender. Such innovations are expected to attract more participants into the market and enhance the market potential.
Rising Proclivity for Healthy Lifestyles to Boost the Market
The global decaffeinated tea market is set to surge during the forecast period owing to the growing adoption of healthy lifestyles. Such lifestyles mainly include developing nutritional diets, drinking healthy beverages, and exercising. These concerns have recently emerged as lifestyles are becoming more sedentary, which is giving rise to various chronic health conditions such as obesity and diabetes. Decaf tea can counter the effects associated with these chronic ailments such as aiding fat burning.