The global honeybush extract market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Honeybush extract comes from the honeybush plant (Cyclopia plant) grows only in the coastal and mountainous areas of the Western and Eastern Cape regions of South Africa. The major factor expected to drive the market is the rapid growth of industries such as food and beverages, cosmetics and pharmaceutical along with growing consumption of herbal drinks in European countries. Furthermore, it supports the human body to fight against germs and prevent from falling sick. It takes care of health-related issues such as depression, anxiety, mood swings and relaxes the body which enable patients to sleep comfortably.
Honeybush tea is like rooibos tea which is regarded as a healthy alternative as they are both antioxidant and caffeine-free. The rising awareness among the developed and developing nation about the benefits of honeybush extract is also accelerating the market growth. A study was done by the Medical Research Council of South Africa, the University of Stellenbosch, and the University of Southern Denmark, confirmed that honeybush tisane resulted in remarkable blood sugar lowering, and cholesterol-lowering effects. Some major players in the market include Adagio Teas, Arbor Teas, and The Cape Honeybush Tea Company, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Adagio Teas, Arbor Teas, and The Cape Honeybush Tea Company, among others.
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Global Honeybush Extract Market Report by Segment
By Type
- Powder
- Liquid
By Application
- Food and Beverages
- Personal Care and Cosmetics
- Pharmaceuticals
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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