Allied market research estimates Hemp Tea Market revenues will grow nearly 22.1% from 2022 to 2031, reaching nearly $392.8 million in 2031

According to a new report published by Allied Market Research, titled, "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.

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Leading Key Players:

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

Segmentation:

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.

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Key findings of study

-> 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.

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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.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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