Butterfly Pea Flowers Market to Reach $151.7 Billion by 2031

 

Meticulous Research®—a leading global market research company, published a research report titled ‘Butterfly Pea Flowers Market—Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication, the Butterfly Pea Flowers market is expected to reach $151.7 billion by 2031, at a CAGR of 5.8% % from 2024 to 2031.

The growth of the butterfly pea flowers market is fueled by various factors, such as the growing demand for natural food colors, the increasing demand for healthy tea alternatives, and the growing R&D activities in the food & beverage industry. However, dynamic government regulations restrain market growth. Furthermore, increased focus on discovering new raw material sources is expected to generate growth opportunities for market stakeholders.

Key Players:

The butterfly pea flowers market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the butterfly pea flowers market are EverforEver Biotech (China), Paraman Food Works (India), Specialty Natural Products Co., Ltd. (Thailand), Woodland Foods (U.S.), My Blue Tea (Australia), Wild Hibiscus Flower, Co. (Australia), Blue Tea (India), All Herbscare (India), Nippon Advanced Agri Co., Ltd.  (Japan), Revival Tea Company (U.S.), and Bigelow Tea (U.S.).                          

The butterfly pea flower market is segmented based on type, distribution channel, and application. The report also evaluates industry competitors and analyzes the market at the country level.

Among the types studied in this report, the whole dried flower segment is anticipated to hold the dominant position in 2024. This segment's significant market share is primarily driven by the growing consumer demand for natural, plant-based products with health benefits, the rise in sales of whole dried butterfly pea flowers through e-commerce platforms, and the expanding use of dried butterfly pea flowers in cocktails, baked goods, and other applications.

Among the distribution channels studied in this report, the indirect channel segment is anticipated to hold the dominant position in the market in 2024. This segment's significant market share is primarily driven by its wide range of product offerings, the growth of online shopping and social media engagement, and expanded market accessibility.

Among the applications studied in this report, the beverages segment is anticipated to hold the dominant position in the market in 2024. This segment's dominant market share is primarily driven by the long-standing use of butterfly pea flowers in traditional welcome drinks, increasing demand for innovative beverage colors, the growing global adoption of butterfly pea flowers in diverse beverage applications, and heightened awareness of the superior nutritional value of natural ingredients.

Among the regions studied in this report, Asia-Pacific is anticipated to hold the dominant position in the market in 2024. The significant market share of the Asia-Pacific region can be attributed to several key drivers, including the long-standing cultural use of butterfly pea flowers across various Asian societies, growing consumer awareness of their health benefits, the established commercial cultivation of these flowers, and the expanding e-commerce sales of butterfly pea flower-based tea products.

Download Free Sample Copy Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5147

Key Questions Answered in the Report-

  • What is the value of revenue generated by the sale of butterfly pea flowers products?
  • At what rate is the demand for the butterfly pea flowers market projected to grow for the next five to seven years?
  • What is the historical market size and growth rate for the butterfly pea flowers market?
  • What are the major factors impacting the growth of this market at regional levels?
  • What are the major opportunities for existing players and new entrants in the market?
  • Which type, distribution channel, and application create major traction for the manufacturers in this market?
  • What are the key geographical trends in this market? Which countries are expected to offer significant growth opportunities for the manufacturers operating in the butterfly pea flowers market?
  • Who are the major players in the butterfly pea flowers market? What are their specific product offerings in this market?
  • What recent developments have taken place in the butterfly pea flowers market? What impact have these strategic developments created on the market?

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Meticulous Research®
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