Hemp Tea Market Research, 2031
The global hemp tea market was valued at $56.2 million in 2021, and is projected to reach $392.8 million by 2031, growing at a CAGR of 22.1% from 2022 to 2031. Hemp tea is a type of herbal tea made from the hemp plant's buds, leaves, stems, flowers, and seeds. The hemp tea flavor has an earthy and slightly bitter taste and a relaxing scent. During the harvest of hemp tea ingredients from the hemp plant, the main goal is to ensure that the tea contains a significant amount of antioxidants and CBD (cannabidiol). The market for hemp tea has recently expanded as a result of rising consumer demand for the beverage.
Throughout the world, hemp tea is gaining significant popularity. Hemp tea has many health benefits, including lowering blood pressure, lowering anxiety, and lowering depression. It is also an excellent source of antioxidants, vitamins, and minerals, all of which contribute to better health. Due to the benefits of hemp tea, many people have been intrigued to try these new plant-based herbal items. Hemp tea has long been known to provide analgesic, anti-inflammatory, and anti-anxiety effects. The negative effects of stress on the body and mind are reduced by its anti-stress capabilities. During the analysis period, these factors are anticipated to drive the hemp tea market demand.
The market for hemp-based products like hemp tea has experienced rapid product development due to the rising global appeal of plant-based superfoods. The market is expected to grow as a result of the enormous growth in demand for hemp seeds and hemp protein. The growing understanding of hemp's numerous alleged health benefits is another factor contributing to the rising popularity of veganism.
As hemp tea is made from the cannabis plant, a well-known source of marijuana. As a result, some people confuse hemp tea with cannabis products that can make them euphoric. As a result, most individuals hold back from consuming hemp tea demand for hemp tea will most likely decline as a result of this factor. The government of several countries has also imposed limitations on the manufacturing and sale of cannabis-related goods in those countries. These factors are also anticipated to hinder the hemp tea market size in the upcoming years.
Hemp cultivation is becoming legalized in many parts of the world, manufacturers and research institutions are being motivated to create new products based on industrial hemp raw material. By meeting the rising customer demand for fresh flavors and locally sourced beverages, the top market players stand to gain significantly from the chance to diversify their product offerings and launch new hemp tea variants. In order to assist market expansion, major companies are working to establish methods including product creation, merger and acquisition, partnerships, and collaborations.
Some of the major hemp tea market players include ItsHemp, Willie's Remedy, Clipper Teas, Buddha Teas, Traditional Medicinals, The Tea Can Company, Cannabiniers, Colorado Harvest Company, Charlotte's Web, and Green Roads
The global hemp tea market is segmented on the basis of distribution channel and region. By distribution channel, the market is sub-segmented into online/direct-to-consumer, convenience stores, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By distribution channel, the online/direct-to-consumer sub-segment has accounted for the highest market share in 2021. The rise in popularity of internet shopping among consumers, which takes less time and effort, is credited with the growth. Since businesses have begun releasing their products online, buyers can now buy goods more easily regardless of location. When choosing a product online, people can choose from a wide range of possibilities. Along with this, businesses provide a variety of fresh offers and schemes that draw customers in. The increased popularity of Internet shopping among customers has contributed to the growth of online/direct-to-consumer sub-segment which is anticipated to boost the hemp tea market share during the analysis timeframe.
By region, North America has dominated the hemp tea industry in 2021. This growth is majorly attributed to the growing demand for plant-based beverages, which aid in maintaining good health. When hemp tea is consumed, it helps to reduce body weight and boost the immune system. In addition, major market players have focused on introducing new products to meet the rising demand for new flavors in beverages.
In Asia-Pacific, growing awareness of hemp tea and its health benefits is creating enormous opportunities for market growth. Application of innovative products and services by market players, increased product development spending and expected expansion of key players' distribution networks are some of the major factors enhancing the hemp tea demand in the Asia-Pacific region.
COVID-19 Impact on Hemp Tea Industry
- The COVID-19 pandemic had a devastating effect on many economies around the world. Over 100 countries have been affected by the pandemic. To control the spread of this disease and avoid the consequences, governments around the world have declared partial or complete lockdown, affecting many industries including hemp tea.
- Governments all over the world have implemented stringent regulations and travel restrictions to prevent the deadly coronavirus from spreading, which has reduced the movement of goods and the sourcing of raw materials to companies that produce hemp-based products. This resulted in fewer hemp products, such as hemp tea, hemp-infused cosmetics, lotions, and oils being produced, which led market revenue to fall.
- In September 2021, Ferris Holding, Inc., a renowned co-packer and manufacturer situated in Las Vegas, Nevada, was acquired by Hemp, Inc., according to a press release. Hemp, Inc. can grow its new product releases in the international hemp industry due to the acquisition. These factors are expected to drive the hemp tea market growth.
Key Benefits For Stakeholders
- The report provides an exclusive and comprehensive analysis of the global hemp tea market trends along with the hemp tea market forecast.
- The report elucidates the hemp tea market opportunities along with key drivers, and restraints of the market. It is a compilation of detailed information, inputs from industry participants and industry experts across the value chain, and quantitative and qualitative assessment by industry analysts.
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the market for strategy building
- The report entailing the hemp tea market analysis maps the qualitative sway of various industry factors on market segments as well as geographies
- The data in this report aims at market dynamics, trends, and developments affecting the industry growth
Hemp Tea Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 392.8 million |
 Growth Rate | CAGR of 22.1% |
 Forecast period | 2021 - 2031 |
 Report Pages | 305 |
 By Distribution Channel |
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 By Region |
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 Key Market Players | Willie's Remedy, Buddha Teas, Charlotte's Web, Green Roads, Cannabiniers, Colorado Harvest Company, ItsHemp, Clipper Teas, The Tea Can Company, Traditional Medicinals |
Analyst Review
Increasing adoption of hemp tea and growing public awareness regarding the benefits associated with the consumption of hemp tea is projected to drive the market growth during the forecast period. In addition, introduction of new products and flavors in hemp tea is influencing the market positively. However, strict rules and regulations for commercial hemp tea use may hamper the global hemp tea market expansion. The manufacturing and sale of cannabis-related products are prohibited by the governments of various countries. On the contrary, rising product innovations and development all around the world will extend profitable opportunities for the hemp tea market players in the forecast period.
Among the analyzed regions, North America has accounted for the highest revenue share in 2021, followed by Asia-Pacific, Europe, and LAMEA. This growth is majorly owing to the relaxation in regulations governing the commercial use of cannabis products in North America. These factors have positively impacted the North America’s market growth and adoption of hemp tea.
The increasing popularity of hemp tea and awareness regarding the health benefits of hemp tea consumption all around the world is expected to be the major market driver. In addition, immense focus on product development is further aiding the market to grow at a significant rate.
Patients with anxiety, depression and people who are adopting vegan culture are the major customers in the global hemp tea market.
North America is the largest regional market for hemp tea.
The hemp tea industry is estimated to reach $392.8 million by 2031.
The top companies to hold the highest market share in the hemp tea are ItsHemp, Willie's Remedy, Clipper Teas, Buddha Teas, Traditional Medicinals, and The Tea Can Company.
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