The hemp tea market was valued at $56.2 million in 2021, and is estimated to reach $392.8 million by 2031, growing at a CAGR of 22.1% from 2022 to 2031. The various parts of hemp plants, such as the stems, leaves, flowers, and buds, are used to make hemp tea which is, an energetic herbal beverage. Tetrahydrocannabinol (THC) is not naturally produced by the cannabis species known as hemp, but it does include Cannabidiol (CBD), particularly when those compounds are manufactured from hemp flowers.
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Some of the key challenges faced by the hemp tea market players include the stringent regulations imposed by the governments of many countries on cannabis usage in any form which is expected to act as a barrier to the hemp tea popularity and market expansion. In addition, the potential side effects associated with hemp tea include digestive issues, drowsiness, reduced appetite, and others. These factors are anticipated to affect the hemp tea market opportunities in the upcoming years.
The report offers a comprehensive analysis of the global hemp tea market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the hemp tea market growth. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the market.
Key Findings of the Study
- Based on distribution channel, the online/direct-to-consumer sub-segment emerged as the fastest growing and dominating sub-segment in 2021
- Based on region, the North America market registered the highest market share in 2021, and the Asia-Pacific region anticipated to be the fastest growing in the market during the forecast period
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