This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
Slimming Tea Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
GET A FREE SAMPLE
Report Overview
The global slimming tea products market was valued at USD 2.9 billion in 2021 and is projected to expand at a CAGR of 8.3% from 2022 to 2030. Slimming tea products are becoming popular among people looking to lose weight or control their body weight. The increasing prevalence of obesity and the growing awareness of the importance of physical fitness are the primary factors driving the growth of the market. Additionally, improved living standards, growing purchasing power, and changing food habits are expected to fuel the demand for slimming tea products over the forecast period.
Furthermore, the changing lifestyle of consumers is driving the demand for slimming tea products. For instance, in August 2021, Lyfe Tea, the world’s leading tea brand, launched its first-ever range of all-natural slimming tea products. The range includes, Detox, Slim, and Essential teas which are formulated using natural ingredients and natural sweeteners. The company claims that the tea can help reduce bloating, reduce cravings, and boost metabolism.
Moreover, the rise in the trend of health and wellness has led to an increased preference for herbal and organic products. Companies are launching a range of organic and herbal slimming tea products to meet the increasing demand. For instance, in April 2021, Cusa Tea, a leading organic tea brand, launched a range of organic slimming tea products. The range includes Detox, Cleanse, and Renew teas which are formulated using natural ingredients and free from any artificial flavors or colors.
Additionally, the increasing number of innovative product launches to cater to the growing product demand from customers is expected to further support the growth of the market. For instance, in December 2021, The Republic of Tea, a premium tea brand, launched a new range of slimming and detox teas. The range includes Detox Beauty, Skinny Matcha, and GingerChi Detox which are formulated using natural ingredients and sweeteners. The product claims to help burn fat, reduce bloat, and boost metabolism.
Furthermore, the rising trend of premiumization in demand for slimming tea products has led to the high price of organic slimming tea products. The growing awareness of the health benefits of organic products is expected to drive the demand for these products, thus fueling the growth of the market. Additionally, the availability of a wide variety of these products online is accelerating the demand. The e-commerce platform further provides various offers on these products, which is boosting online sales.
Product Insights
The tea segment dominated the market and accounted for a share of around 37.5% in 2022. Increasing health awareness among consumers, rising obesity levels across the world, and the growing popularity of slimming tea products are some of the major factors contributing to the growth of the market. According to an article published by the International Journal of Preventive Medicine, in June 2020, global obesity levels have nearly tripled since 1975. Furthermore, increasing consumer demand for natural and organic slimming tea products is also driving the growth of the market.
The capsules segment is expected to expand at the fastest CAGR of 9.7% over the forecast period. Growing consumer demand for convenient and easy-to-consume slimming products is driving the growth of the capsules segment. Furthermore, the increasing availability of different types of slimming capsules such as green tea extract, guarana extract, and chitosan capsules is also driving the growth of the segment. In addition, rising consumer awareness regarding the health benefits of slimming capsules is also driving the market growth.
Distribution Channel Insights
The supermarkets and hypermarkets segment accounted for the largest market share of over 27.3% in 2022. The growth of the segment is mainly driven by the rising consumer inclination towards supermarkets & hypermarkets as a primary source to purchase slimming tea products. Supermarkets and hypermarkets provide a wide selection of slimming tea products and assist customers in making rapid purchasing decisions for the required product. Furthermore, various promotional activities and discounts on slimming tea products offered by supermarkets and hypermarkets have attracted customers to purchase slimming tea products from these stores.
The online segment is anticipated to expand at the highest CAGR of 14.5% over the forecast period. Online stores offer a wide variety of slimming tea products, which have increased its popularity among consumers. Moreover, the convenience of shopping and competitive pricing offered by online stores have further boosted the sales of slimming tea products through e-commerce channels. Additionally, the availability of discounts and promotional offers on slimming tea products through online stores has also contributed to the segment growth.
Type Insights
The traditional segment accounted for the largest revenue share of 61.3% in the year 2022. The increasing health consciousness among consumers and the growing number of health-conscious people are key factors driving the growth of this segment. Slimming tea products are considered to be one of the most popular traditional products. Furthermore, the widespread availability of slimming tea products through brick and mortar outlets such as supermarkets, grocery stores, and hypermarkets has increased their reach among consumers.
The herbal segment is anticipated to expand at the highest CAGR of 10.2% over the forecast period. The increasing health consciousness among consumers and the rising awareness about the beneficial effects of herbal slimming tea are driving the demand for slimming tea products. Herbal slimming tea products are gaining immense popularity due to their natural ingredients, which are considered to be safe and beneficial for health. Furthermore, the rising demand for organic slimming tea products is also contributing to the growth of the herbal segment.
Regional Insights
Asia Pacific is expected to account for the largest revenue share in the coming years. The market in the region is mainly driven by the presence of a large consumer base and their high consumption of slimming tea products. The increasing awareness about the health benefits of consuming slimming tea, such as weight management, is expected to further propel the growth of this market in the region. Moreover, the presence of prominent players, such as Unilever, Nestle, and PepsiCo, is also expected to fuel the market growth in the region.
North America is expected to witness the second-fastest growth in the coming years. The increasing acceptance of slimming tea products among the health-conscious populace in the region is expected to drive the growth of the market. Additionally, the presence of prominent players, such as Unilever and Nestle, is expected to further propel the growth of the market in the region.
Financial Projections
In this part of the slimming tea products business plan, we will provide a detailed breakdown of all income and expense categories. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for the slimming tea products business comes from the sale of the teas, as well as potential revenue sources such as subscription models, online sales, and bulk orders. Here you will find a list with a description of each of these potential sources of profit.
Projecting Expenses
In this section, all the regular expenses related to keeping the slimming tea products business running will be described. The list of operating expenses includes ingredient costs, packaging costs, employee wages, shipping and handling costs, advertising and marketing costs, software costs, website hosting costs, and insurance policies.
Key companies & market share insights
Some of the leading companies operating in the slimming tea market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In August 2022, The Republic of Tea launched a new line of slimming tea, the product range includes a detox blend, a green tea blend, and an herbal blend.
– In October 2022, Celestial Seasonings launched the Slim Tea Collection, which offers a variety of green tea, black tea, white tea, and herbal tea blends formulated to help with weight loss.
– In December 2022, Twinings launched a range of slimming teas, the product range includes ginger, lemon, and oolong varieties.
Some of the prominent players in the slimming tea market include:
– The Republic of Tea
– Celestial Seasonings
– Twinings
– Lipton
– TAZO
– Bigelow Tea Company
– Yogi Tea
– Traditional Medicinals
– Numi Tea
– Choice Organic Teas
Global Slimming Tea Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global slimming tea products market based on type, distribution channel, and region:
1. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Herbal Teas
– Green Teas
– Oolong Teas
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Slimming Tea Market?
[A]: The rising prevalence of obesity due to unhealthy lifestyles, the increasing demand for natural health and wellness products, and the growing awareness of the benefits of slimming tea are key drivers of the slimming tea market. Additionally, slimming tea has become increasingly popular due to its ability to help individuals reduce their calorie intake, improve digestion, and reduce body fat.
[Q]: What are the Potential Opportunities for Slimming Tea Manufacturers?
[A]: Manufacturers of slimming tea have the potential to capitalize on the growing health consciousness among consumers and the increasing demand for natural health and wellness products. Additionally, manufacturers can focus on developing innovative products with improved taste, health benefits, and convenience.
[Q]: What are the Major Challenges Faced by Manufacturers of Slimming Tea?
[A]: The major challenges faced by manufacturers of slimming tea include the availability of counterfeit products, high levels of competition in the market, and the increasing cost of raw materials. Additionally, stringent regulations regarding the safety and quality of slimming tea products can also pose a challenge.
[Q]: What are the Key Trends in the Slimming Tea Market?
[A]: Key trends in the slimming tea market include the increasing popularity of herbal slimming tea, the development of innovative products with improved taste, health benefits, and convenience, and the growing demand for natural health and wellness products. Additionally, the increasing demand for slimming teas that offer immunity-boosting benefits is a key trend in the market.
[Q]: What are the Most Prominent Regions for the Slimming Tea Market?
[A]: The most prominent regions for the slimming tea market include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of these, Asia Pacific is expected to dominate the market in terms of sales and value due to the large population and increasing health consciousness among consumers in the region.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
