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Hemp Tea Market By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031

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    Report

  • 305 Pages
  • September 2022
  • Region: Global
  • Allied Market Research
  • ID: 5713184
The global hemp tea market is envisioned to garner $392.8 million by 2031, growing from $56.2 million in 2021 at a CAGR of 22.1%.

Hemp tea, a refreshing herbal beverage, which is made from hemp leaves, stems, flowers, or buds. Hemp tea helps in reducing stress, anxiety, depression, and pain. Over the past few years, growth trajectories have been dramatically impacted by manufacturers' race to develop environmentally friendly products.

The rising global appeal of plant-based super foods is another major trend that has pushed the boundaries of product development in the market for hemp tea products. These factors have positively impacted the demand for hemp tea or CBD tea during the recent times. The popularity of veganism is growing as more people are becoming aware regarding the numerous health benefits of hemp and hemp tea. These factors are anticipated to promote hemp tea market growth over the course of the analysis.

However, companies who sell hemp and goods made from cannabidiol must be abide by local laws in each nation. Despite the fact that different varieties of hemp tea with varying degrees are legalized around the world, manufacturers and other stakeholders might find it challenging to adhere to the strict regulatory standards that apply to the cultivation and sale of industrial hemp in different states within the same country. These factors are projected to limit the hemp tea market size during the analysis timeframe.

Furthermore, the demand for hemp tea is rapidly rising all around the world. Maintaining body weight and lowering anxiety and depression are just a few of the health advantages of hemp tea. Additionally, hemp tea is a great source of nutrients, vitamins, minerals, and antioxidants, all of which improve one's health. Many consumers have been drawn to test these new herbal items made from plants because of the advantages of hemp tea. During the anticipated term, this factor is likely to fuel the hemp tea industry growth.

The market for hemp tea suffered a serious setback during the COVID-19 pandemic. The dangerous coronavirus infected millions of people worldwide on a daily basis and had a negative impact on their health. The accessibility of raw ingredients for the production of hemp tea was restricted in addition to the overall lockdown and travel restrictions that has affected the hemp tea market revenue during the pandemic.

The key players profiled in the hemp tea market report 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.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hemp tea market analysis from 2021 to 2031 to identify the prevailing hemp tea market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the hemp tea market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global hemp tea market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Distribution Channel

  • Online/Direct-to-Consumer
  • Convenience stores
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of LAMEA

Key Market Players

  • ItsHemp
  • Willie's Remedy
  • Clipper Teas
  • Buddha Teas
  • Traditional Medicinals
  • The Tea Can Company
  • Cannabiniers
  • Colorado Harvest Company
  • Charlotte's Web
  • Green Roads

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Regulatory Guidelines
3.8. Value Chain Analysis
3.9. Market Share Analysis
3.10. Key Regulation Analysis
3.11. Patent Landscape

CHAPTER 4: HEMP TEA MARKET, BY DISTRIBUTION CHANNEL
4.1 Overview
4.1.1 Market size and forecast
4.2 Online/Direct-to-Consumer
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Convenience stores
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Others
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country

CHAPTER 5: HEMP TEA MARKET, BY REGION
5.1 Overview
5.1.1 Market size and forecast
5.2 North America
5.2.1 Key trends and opportunities
5.2.2 North America Market size and forecast, by Distribution Channel
5.2.3 North America Market size and forecast, by country
5.2.3.1 U.S.
5.2.3.1.1 Market size and forecast, by Distribution Channel
5.2.3.2 Canada
5.2.3.2.1 Market size and forecast, by Distribution Channel
5.2.3.3 Mexico
5.2.3.3.1 Market size and forecast, by Distribution Channel
5.3 Europe
5.3.1 Key trends and opportunities
5.3.2 Europe Market size and forecast, by Distribution Channel
5.3.3 Europe Market size and forecast, by country
5.3.3.1 Germany
5.3.3.1.1 Market size and forecast, by Distribution Channel
5.3.3.2 United Kingdom
5.3.3.2.1 Market size and forecast, by Distribution Channel
5.3.3.3 France
5.3.3.3.1 Market size and forecast, by Distribution Channel
5.3.3.4 Spain
5.3.3.4.1 Market size and forecast, by Distribution Channel
5.3.3.5 Italy
5.3.3.5.1 Market size and forecast, by Distribution Channel
5.3.3.6 Rest of Europe
5.3.3.6.1 Market size and forecast, by Distribution Channel
5.4 Asia-Pacific
5.4.1 Key trends and opportunities
5.4.2 Asia-Pacific Market size and forecast, by Distribution Channel
5.4.3 Asia-Pacific Market size and forecast, by country
5.4.3.1 China
5.4.3.1.1 Market size and forecast, by Distribution Channel
5.4.3.2 Japan
5.4.3.2.1 Market size and forecast, by Distribution Channel
5.4.3.3 India
5.4.3.3.1 Market size and forecast, by Distribution Channel
5.4.3.4 South Korea
5.4.3.4.1 Market size and forecast, by Distribution Channel
5.4.3.5 Australia
5.4.3.5.1 Market size and forecast, by Distribution Channel
5.4.3.6 Rest of Asia-Pacific
5.4.3.6.1 Market size and forecast, by Distribution Channel
5.5 LAMEA
5.5.1 Key trends and opportunities
5.5.2 LAMEA Market size and forecast, by Distribution Channel
5.5.3 LAMEA Market size and forecast, by country
5.5.3.1 Brazil
5.5.3.1.1 Market size and forecast, by Distribution Channel
5.5.3.2 Saudi Arabia
5.5.3.2.1 Market size and forecast, by Distribution Channel
5.5.3.3 UAE
5.5.3.3.1 Market size and forecast, by Distribution Channel
5.5.3.4 South Africa
5.5.3.4.1 Market size and forecast, by Distribution Channel
5.5.3.5 Rest of LAMEA
5.5.3.5.1 Market size and forecast, by Distribution Channel

CHAPTER 6: COMPANY LANDSCAPE
6.1. Introduction
6.2. Top winning strategies
6.3. Product Mapping of Top 10 Player
6.4. Competitive Dashboard
6.5. Competitive Heatmap
6.6. Key developments

CHAPTER 7: COMPANY PROFILES
7.1 ItsHemp
7.1.1 Company overview
7.1.2 Company snapshot
7.1.3 Operating business segments
7.1.4 Product portfolio
7.1.5 Business performance
7.1.6 Key strategic moves and developments
7.2 Willie's Remedy
7.2.1 Company overview
7.2.2 Company snapshot
7.2.3 Operating business segments
7.2.4 Product portfolio
7.2.5 Business performance
7.2.6 Key strategic moves and developments
7.3 Clipper Teas
7.3.1 Company overview
7.3.2 Company snapshot
7.3.3 Operating business segments
7.3.4 Product portfolio
7.3.5 Business performance
7.3.6 Key strategic moves and developments
7.4 Buddha Teas
7.4.1 Company overview
7.4.2 Company snapshot
7.4.3 Operating business segments
7.4.4 Product portfolio
7.4.5 Business performance
7.4.6 Key strategic moves and developments
7.5 Traditional Medicinals
7.5.1 Company overview
7.5.2 Company snapshot
7.5.3 Operating business segments
7.5.4 Product portfolio
7.5.5 Business performance
7.5.6 Key strategic moves and developments
7.6 The Tea Can Company
7.6.1 Company overview
7.6.2 Company snapshot
7.6.3 Operating business segments
7.6.4 Product portfolio
7.6.5 Business performance
7.6.6 Key strategic moves and developments
7.7 Cannabiniers
7.7.1 Company overview
7.7.2 Company snapshot
7.7.3 Operating business segments
7.7.4 Product portfolio
7.7.5 Business performance
7.7.6 Key strategic moves and developments
7.8 Colorado Harvest Company
7.8.1 Company overview
7.8.2 Company snapshot
7.8.3 Operating business segments
7.8.4 Product portfolio
7.8.5 Business performance
7.8.6 Key strategic moves and developments
7.9 Charlotte's Web
7.9.1 Company overview
7.9.2 Company snapshot
7.9.3 Operating business segments
7.9.4 Product portfolio
7.9.5 Business performance
7.9.6 Key strategic moves and developments
7.10 Green Roads
7.10.1 Company overview
7.10.2 Company snapshot
7.10.3 Operating business segments
7.10.4 Product portfolio
7.10.5 Business performance
7.10.6 Key strategic moves and developments

List of Tables
Table 1. Global Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 2. Hemp Tea Market Size, for Online/Direct-To-Consumer, by Region, 2021-2031 ($Thousand)
Table 3. Hemp Tea Market for Online/Direct-To-Consumer by Country, 2021-2031 ($Thousand)
Table 4. Hemp Tea Market Size, for Convenience Stores, by Region, 2021-2031 ($Thousand)
Table 5. Hemp Tea Market for Convenience Stores by Country, 2021-2031 ($Thousand)
Table 6. Hemp Tea Market Size, for Others, by Region, 2021-2031 ($Thousand)
Table 7. Hemp Tea Market for Others by Country, 2021-2031 ($Thousand)
Table 8. Hemp Tea Market, by Region, 2021-2031 ($Thousand)
Table 9. North America Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 10. North America Hemp Tea Market, by Country, 2021-2031 ($Thousand)
Table 11. U.S. Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 12. Canada Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 13. Mexico Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 14. Europe Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 15. Europe Hemp Tea Market, by Country, 2021-2031 ($Thousand)
Table 16. Germany Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 17. United Kingdom Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 18. France Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 19. Spain Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 20. Italy Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 21. Rest of Europe Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 22. Asia-Pacific Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 23. Asia-Pacific Hemp Tea Market, by Country, 2021-2031 ($Thousand)
Table 24. China Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 25. Japan Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 26. India Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 27. South Korea Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 28. Australia Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 29. Rest of Asia-Pacific Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 30. LAMEA Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 31. LAMEA Hemp Tea Market, by Country, 2021-2031 ($Thousand)
Table 32. Brazil Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 33. Saudi Arabia Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 34. UAE Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 35. South Africa Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 36. Rest of LAMEA Hemp Tea Market, by Distribution Channel, 2021-2031 ($Thousand)
Table 37. Itshemp: Company Snapshot
Table 38. Itshemp: Operating Segments
Table 39. Itshemp: Product Portfolio
Table 40. Itshemp: Net Sales,
Table 41. Itshemp: Key Strategies
Table 42. Willie's Remedy: Company Snapshot
Table 43. Willie's Remedy: Operating Segments
Table 44. Willie's Remedy: Product Portfolio
Table 45. Willie's Remedy: Net Sales,
Table 46. Willie's Remedy: Key Strategies
Table 47. Clipper Teas: Company Snapshot
Table 48. Clipper Teas: Operating Segments
Table 49. Clipper Teas: Product Portfolio
Table 50. Clipper Teas: Net Sales,
Table 51. Clipper Teas: Key Strategies
Table 52. Buddha Teas: Company Snapshot
Table 53. Buddha Teas: Operating Segments
Table 54. Buddha Teas: Product Portfolio
Table 55. Buddha Teas: Net Sales,
Table 56. Buddha Teas: Key Strategies
Table 57. Traditional Medicinals: Company Snapshot
Table 58. Traditional Medicinals: Operating Segments
Table 59. Traditional Medicinals: Product Portfolio
Table 60. Traditional Medicinals: Net Sales,
Table 61. Traditional Medicinals: Key Strategies
Table 62. The Tea Can Company: Company Snapshot
Table 63. The Tea Can Company: Operating Segments
Table 64. The Tea Can Company: Product Portfolio
Table 65. The Tea Can Company: Net Sales,
Table 66. The Tea Can Company: Key Strategies
Table 67. Cannabiniers: Company Snapshot
Table 68. Cannabiniers: Operating Segments
Table 69. Cannabiniers: Product Portfolio
Table 70. Cannabiniers: Net Sales,
Table 71. Cannabiniers: Key Strategies
Table 72. Colorado Harvest Company: Company Snapshot
Table 73. Colorado Harvest Company: Operating Segments
Table 74. Colorado Harvest Company: Product Portfolio
Table 75. Colorado Harvest Company: Net Sales,
Table 76. Colorado Harvest Company: Key Strategies
Table 77. Charlotte's Web: Company Snapshot
Table 78. Charlotte's Web: Operating Segments
Table 79. Charlotte's Web: Product Portfolio
Table 80. Charlotte's Web: Net Sales,
Table 81. Charlotte's Web: Key Strategies
Table 82. Green Roads: Company Snapshot
Table 83. Green Roads: Operating Segments
Table 84. Green Roads: Product Portfolio
Table 85. Green Roads: Net Sales,
Table 86. Green Roads: Key Strategies

List of Figures
Figure 1. Hemp Tea Market Segmentation
Figure 2. Hemp Tea Market, 2021-2031
Figure 3. Hemp Tea Market, 2021-2031
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Hemp Tea Mark.:Drivers, Restraints and Opportunities
Figure 12. Regulatory Guidelines
Figure 13. Value Chain Analysis
Figure 14. Market Share Analysis
Figure 15. Key Regulation Analysis
Figure 16. Patent Analysis by Company
Figure 17. Patent Analysis by Country
Figure 18. Hemp Tea Market, By Distribution Channel, 2021(%)
Figure 19. Comparative Share Analysis of Online/Direct-To-Consumer Hemp Tea Market, 2021-2031(%)
Figure 20. Comparative Share Analysis of Convenience Stores Hemp Tea Market, 2021-2031(%)
Figure 21. Comparative Share Analysis of Others Hemp Tea Market, 2021-2031(%)
Figure 22. Hemp Tea Market by Region, 2021
Figure 23. U.S. Hemp Tea Market, 2021-2031($Thousand)
Figure 24. Canada Hemp Tea Market, 2021-2031($Thousand)
Figure 25. Mexico Hemp Tea Market, 2021-2031($Thousand)
Figure 26. Germany Hemp Tea Market, 2021-2031($Thousand)
Figure 27. United Kingdom Hemp Tea Market, 2021-2031($Thousand)
Figure 28. France Hemp Tea Market, 2021-2031($Thousand)
Figure 29. Spain Hemp Tea Market, 2021-2031($Thousand)
Figure 30. Italy Hemp Tea Market, 2021-2031($Thousand)
Figure 31. Rest of Europe Hemp Tea Market, 2021-2031($Thousand)
Figure 32. China Hemp Tea Market, 2021-2031($Thousand)
Figure 33. Japan Hemp Tea Market, 2021-2031($Thousand)
Figure 34. India Hemp Tea Market, 2021-2031($Thousand)
Figure 35. South Korea Hemp Tea Market, 2021-2031($Thousand)
Figure 36. Australia Hemp Tea Market, 2021-2031($Thousand)
Figure 37. Rest of Asia-Pacific Hemp Tea Market, 2021-2031($Thousand)
Figure 38. Brazil Hemp Tea Market, 2021-2031($Thousand)
Figure 39. Saudi Arabia Hemp Tea Market, 2021-2031($Thousand)
Figure 40. Uae Hemp Tea Market, 2021-2031($Thousand)
Figure 41. South Africa Hemp Tea Market, 2021-2031($Thousand)
Figure 42. Rest of LAMEA Hemp Tea Market, 2021-2031($Thousand)
Figure 43. Top Winning Strategies, by Year
Figure 44. Top Winning Strategies, by Development
Figure 45. Top Winning Strategies, by Company
Figure 46. Product Mapping of Top 10 Players
Figure 47. Competitive Dashboard
Figure 48. Competitive Heatmap of Top 10 Key Players
Figure 49. Itshem.: Net Sales, ($Thousand)
Figure 50. Willie's Remed.: Net Sales, ($Thousand)
Figure 51. Clipper Tea.: Net Sales, ($Thousand)
Figure 52. Buddha Tea.: Net Sales, ($Thousand)
Figure 53. Traditional Medicinal.: Net Sales, ($Thousand)
Figure 54. The Tea Can Compan.: Net Sales, ($Thousand)
Figure 55. Cannabinier.: Net Sales, ($Thousand)
Figure 56. Colorado Harvest Compan.: Net Sales, ($Thousand)
Figure 57. Charlotte's We.: Net Sales, ($Thousand)
Figure 58. Green Road.: Net Sales, ($Thousand)

Executive Summary

According to the report, “Hemp Tea Market," 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.

Hemp tea offers a range of benefits owing to its anti-inflammatory, anti-stress, anti-anxiety, and anti-depressive properties, which is why it is growing in popularity. Owing to these benefits hemp tea has calming effects. For instance, its antioxidant capabilities help to lessen the negative effects that stress has on the body and mind. Hemp tea's rich nutrient composition, which includes antioxidant compounds, vitamins, and nutrients, enhances general health and boosts energy. Additionally, hemp tea infusions contain less than 0.3% THC due to which it does not have the psychoactive effects of cannabis which is completely safe and legal. Hemp tea is known to alleviate high blood pressure as CBD extracts reduced inflammation thereby preventing damage to the arteries. These benefits are anticipated to boost the hemp tea market demand in the upcoming years.

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.

A number of opportunities for market expansion are also projected to arise throughout the projection period as a result of the rising popularity of herbal tea among customers who are health-conscious around the world and the ongoing product launches of several new flavors of hemp tea by leading players. The market expansion is attributed to the presence of well-known hemp tea producers in the market and their continued efforts to create new hemp products, including hemp tea tastes. As these countries have tax restrictions surrounding the cultivation and use of the cannabis plant in the production of items such as hemp tea, several enterprises have launched their manufacturing facilities and are creating new hemp tea product lines. These factors will definitely encourage the hemp tea market size in the upcoming years.

The global hemp tea market share is segmented based on distribution channel and region. By distribution channel, it is classified into online/direct-to-consumer, convenience stores, others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the hemp tea market report 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 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.

Impact of COVID-19 on the Global Hemp Tea Industry

Due to the COVID-19 pandemic, numerous economies all across the globe have been negatively impacted. The drop in sales of hemp tea might be reported due to disruption in the global distribution and sales channel.

During the pandemic, restrictions were imposed on the people which declined the demand for hemp tea products. Also, the government's strict regulation and policies on the hemp industry hampered the growth of the hemp tea market.

However, due to the COVID-19 pandemic, hemp tea producers were forced to close their manufacturing units as the raw materials used for the production of hemp tea were scarce. As a result of this factor, the production of hemp products, including hemp tea, has decreased, causing disturbances in sales and impeding market expansion.

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

Companies Mentioned

  • ItsHemp
  • Willie's Remedy
  • Clipper Teas
  • Buddha Teas
  • Traditional Medicinals
  • The Tea Can Company
  • Cannabiniers
  • Colorado Harvest Company
  • Charlotte's Web
  • Green Roads

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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