Chrysanthemum Tea Market Expected to Reach $249.8 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Global Chrysanthemum Tea Market by Type, Packaging, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2023–2032,” the global chrysanthemum tea market was valued at $153.1 million in 2022, and is projected to reach $249.8 million by 2032, registering a CAGR of 5.1% from 2023 to 2032.

The global chrysanthemum tea market has experienced notable growth due to surge in demand for beverages with floral flavors. These drinks provide a distinct and innovative taste that attracts consumers who seek variety in their tea selections. Chrysanthemum tea, known for its unique floral notes, effectively caters to this demand and presents a compelling alternative to traditional beverages. The visual appeal of floral-infused drinks, characterized by vibrant colors and delicate flower petals, further boosts their popularity among consumers who value the presence of their tea drinks. The increasing interest in beverages infused with floral flavors creates significant opportunities for participants in the chrysanthemum tea market to cater to diverse consumer preferences, tap into the natural and botanical trend, and attract a wider customer base, particularly health-conscious individuals. Key market players offer high-quality floral-infused beverages to capture attention and appeal to a broad audience who prefer natural tea drinks. These players can explore new avenues by introducing exceptional products in the chrysanthemum tea category.

However, limited awareness and familiarity surrounding chrysanthemum tea presents significant challenges toward the Chrysanthemum Tea Market Size. In addition, lack of consumer knowledge regarding the product's benefits and uses hinders its widespread acceptance.

Furthermore, cultural disparities significantly impact the hindered market entry of chrysanthemum tea. Within specific European cultural contexts, especially in regions of Western and Southern Europe, the chrysanthemum bloom is closely tied to notions of demise and mourning. Its prevalent usage as a token of remembrance is observable in funeral displays and graveyards, solidifying its symbolism of loss. This cultural belief holds firm in countries such as France, Italy, Spain, and Belgium, where the mere presence of chrysanthemums invokes sentiments of bereavement. For instance, during occasions like All Saints' Day and All Souls' Day, individuals visit graves of their departed family members with blossoms, often featuring chrysanthemums, which may have negative impact and may lessen the Chrysanthemum Tea Market Demand during the Chrysanthemum Tea Market Analysis. Consequently, chrysanthemums have become intricately interwoven with memorial traditions and observances, thus erecting a psychological barrier for certain individuals in evaluating chrysanthemum tea as a beverage choice. Thus, it may affect the Chrysanthemum Tea Market Share in European countries in the forthcoming years. 

The specialty tea market constitutes a thriving segment within the beverage sector, furnishing a distinct avenue for expansion and innovation. This market encompasses a wide spectrum of upscale tea variations, encompassing chrysanthemum tea as well as other concoctions suffused with floral and herbal nuances, meticulously tailored to address the multifaceted preferences of consumers.In addition, surge has been witnessed in the demand for genuine and high-quality tea experiences, as consumers look for beverages that offer distinct and refined flavors. Furthermore, increase in focus on healthy lifestyles has propelled the popularity of specialty teas, which often boast natural ingredients and potential health benefits. Beverage companies may seize numerous opportunities within the specialty tea market by introducing unique flavors and blends that specifically target different segments of tea drinkers. This allows companies to have control over premium pricing and establish themselves as leaders in the premium tea segment of the beverage market. Thus, it will hep to boost Chrysanthemum Tea Market Opportunities in the coming year. 

Collaborative engagements with adept tea artisans offer an avenue to harness their mastery and skill, culminating in the formulation of extraordinary tea blends that captivate a wide-ranging audience. Furthermore, pioneering packaging assumes a pivotal role in propelling market expansion, as visually enticing designs amplify the overall allure of specialty teas, thus attracting patrons who hold a penchant for the product's artistry and refinement. This will help to increase the Chrysanthemum Tea Market Growth in the next couple of year and help in Chrysanthemum Tea Market Trends and will create Chrysanthemum Tea Market Demand in the tea market. 

The emergence of the coronavirus has disarrayed the supply chain, causing setbacks in the global provision and conveyance of chrysanthemum tea, thereby inflicting adverse repercussions on commercial enterprises. Moreover, the enforcement of lockdown measures, driven by the imperative of virus containment, instigated a temporary suspension of diverse chrysanthemum tea operations, encompassing production, processing, supply, distribution, importation, and exportation. These limitations precipitated a dwindling in demand, curtailed production and processing capabilities, interruptions in supply chain and distribution network, and even a dip in market valuations.

The global chrysanthemum tea market is segmented into type, packaging, application, distribution channel, and region. As per type, the market is categorized into chrysanthemum indicum and chrysanthemum morifolium. On the basis of packaging, it is segregated into loose tea, tea bags, and bottled/canned. According to application, it is bifurcated into residential and commercial. On the basis of distribution channel, it is divided into online and offline. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, Egypt, and rest of LAMEA).

Key findings of the study 

• On the basis of type, the chrysanthemum indicum segment led in terms of market share in 2022. However, the chrysanthemum morifolium segment is anticipated to grow at the fastest rate during the forecast period. 
• Depending on packaging, the loose tea segment accounted for more than two-fifths of the market share in 2022. However, the tea bag segment is expected to gain traction during the forecast period.
• By application, the commercial segment accounted for more than half of the market share in 2022 and is expected to gain traction during the forecast period.  
• As per distribution channel, the offline segment accounted for more than half of the market share in 2022. However, the online segment is expected to register the fastest growth in the coming future.
• Region wise, Asia-Pacific was the major shareholder in 2022 and is expected to grow at the fastest rate during the forecast period.

The players operating in the global chrysanthemum tea market have adopted various developmental strategies, including, but not limited, to geographical expansion and acquisitions to increase their market share, gain profitability, and remain competitive in the market. The key players operating in the chrysanthemum tea market include Yunnan Sourcing Tea Shop, Bravo Tea, Asha Tea House, Teasenz, The Chinese Tea Company, Ten Ren Tea, Grand Tea & Imports, Onyx Coffee Lab, Chymey Teas, and Yeo Hiap Seng Ltd.