REDDING, Calif., Dec. 5, 2024 /PRNewswire/ -- According to a new market research report titled, 'Butterfly Pea Flowers Market Size, Share, Forecast, & Trends Analysis by Type (Whole Dried Flowers, Powder, Extracts), Distribution Channel (B2B & B2C), Application (Beverages & Food Products) - Global Forecast to 2031,' 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 driven by the growing demand for natural food colors, increasing demand for healthy tea alternatives, and increasing R&D activities in the food & beverage industry. However, this market's growth is restrained by the dynamic government regulations.
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Additionally, increasing R&D activities to find new raw material sources is anticipated to create substantial growth opportunities for players operating in this market. Moreover, the increasing awareness regarding clean-label products is a prominent trend in this market.
Key Players:
Some of the major players studied in this report 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.)
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The global butterfly pea flowers market is segmented by type (whole dried flowers, powder, extracts), distribution channel (direct channel/business-to-business (B2B), indirect channel/business to consumer (B2C)), application (beverages {tea, other beverages}, food products, and other applications); and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). This study also evaluates industry competitors and analyzes the regional and country-level markets.
Butterfly Pea Flowers Industry Overview: Latest Developments from Key Industry Players
- In October 2024, Bigelow Tea (U.S.) launched Bigelow Butterfly Pea Flower with two flavors, Sapphire Bay and Vanilla Midnight.
- In May 2024, California Natural Color (U.S.) launched pure purple butterfly peas to its color portfolio for a variety of applications.
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Key Findings in the Butterfly Pea Flowers Market Study:
By type, the powder segment is expected to register the highest CAGR of 6.7% during the forecast period. This growth is driven by the convenience of sterilized powder, as well as its increasing popularity in food and beverage production. Sterilized butterfly pea flower powder is valued for its natural ability to change product color. It is gaining traction in the development of functional foods and beverages due to its ease of handling, transportation, storage, and high stability.
By distribution channel, the indirect channel segment is anticipated to record the highest CAGR during the forecast period. This growth is driven by factors such as the rise of online shopping, increasing sales of butterfly pea flower products on platforms like Amazon, eBay, and specialty health food websites, as well as growing exports to new global markets.
By application, the beverages segment is anticipated to record the highest CAGR during the forecast period. This growth is driven by rising demand for functional beverages and the growing popularity of herbal teas. Additionally, the vibrant color of the butterfly pea flower makes it a popular ingredient in beverages such as teas, smoothies, cocktails, and lemonades.
By geography, Asia-Pacific is poised to record the highest CAGR during the forecast period. This growth is driven by the increasing interest in traditional health practices, a rising focus on indigenous plants like butterfly pea flower, and the growing health and wellness trends in the region.
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Scope of the Report:
Butterfly Pea Flowers Market Assessment-by Type
- Whole Dried Flowers
- Powder
- Extracts
Butterfly Pea Flowers Market Assessment-by Distribution Channel
- Direct Channel/Business-to-Business (B2B)
- Indirect Channel/Business to Consumer (B2C)
Butterfly Pea Flowers Market Assessment-by Application
- Beverages
- Tea
- Other Beverages
- Food Products
- Other Applications
Botanicals Market Assessment-by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
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Butterfly Pea Flowers Market Research Summary
Particulars | Details |
Number of Pages | 114 |
Format | |
Forecast Period | 2024-2031 |
Base Year | 2023 |
CAGR (Value) | 5.8 % |
Market Size (Value) | USD 151.7 Billion by 2031 |
Segments Covered | By Type
By Distribution Channel
By Application
|
Countries Covered | North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Thailand, Malaysia, and Rest of Asia-Pacific), Latin America, and Middle East & Africa |
Key Companies | 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.) |
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