London, Nov. 30, 2020 (GLOBE NEWSWIRE) -- According to a new market research report titled “Butterfly Pea Flowers Market by Type (Whole Dried Flowers, Powder, Extract), Application (Food Products, Beverages, Tea), Distribution Channel (Direct, Indirect), and Geography - Global Forecast to 2027”, published by Meticulous Research®, the butterfly pea flowers market is expected to grow at a CAGR of 5.5% from 2020 to 2027 to reach $102.4 million by 2027.
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Butterfly pea flower, also known as Clitoria Ternatea, is rich in various antioxidants and flavonoids and contains zero caffeine. This flower also offers various benefits, such as anti-aging, improves human metabolism, and imparts bold and appealing colors to foods & beverages. Butterfly pea flowers originate from subtropical regions and are widely distributed in Africa, Asia, Australia, North America, South America, and the Northwest, Central South, and Southwest Pacific.
In terms of flavors and colors, consumers look for bright, bold, and appealing hues. Color adds emotional appeal to food, which makes color as important as taste. Similarly, food & beverage operators know how critically important color is when it comes to beverages. Both color and functionality are present in ingredients, such as butterfly pea flowers– which are widely popular in Southeast Asia. Butterfly pea flower is high in antioxidants and naturally changes color from blue to purple when acidity is introduced. Therefore, the rising popularity of innovative color options and the demand for healthy herbal teas have boosted the demand for butterfly pea flowers worldwide.
The butterfly pea flowers market is mainly driven by factors such as the growing use of butterfly pea flower products as natural food colors, increasing demand for healthy tea alternatives, and a wide range of benefits of butterfly pea flowers. However, dynamic government regulations are expected to restrain the future growth of this market marginally.
The butterfly pea flowers market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027— by type (whole dried flowers, sterilized powder, and extract), distribution channel (direct and indirect), application [beverages (tea and other beverages), food products, and other applications], and geography. The study also evaluates industry competitors and analyzes the market at country levels.
The Impact of COVID-19 on the Butterfly Pea Flowers Market
The outbreak of COVID-19 has had a significant impact not only on the public health, but also on all stages of the supply chain and various industries. The food and beverage sector is one of such industries, as manufacturers are being hit with disruptions due to coronavirus. The worldwide supply chain includes distribution, packaging, as well as the sourcing of raw materials. Lockdowns have disrupted the transportation of packaged foods, prepared foods, and beverages. Also, the shutting down of restaurants and quick-service facilities due to the lockdowns have hindered the growth of the food & beverage industry to a large extent.
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Nutritious and diverse food sources are in short supply in the wake of the global health crisis. Also, greater food insecurity is prevalent in regions hit hard by COVID-19. Thus, the negative impact on the global economy, supply chains, and trade has indirectly hampered the growth of the butterfly pea flowers market. Supermarket chains have started enforcing new rules to curb panic buying, while suppliers and factory workers have taken additional health and safety measures to keep consumers safe. Moreover, the food & beverage industry has witnessed a slight downfall due to the lockdowns imposed across various countries. This scenario has also negatively impacted the beverages industry since people are opting to buy only essential products.
Further, the government bodies worldwide have passed various safety measures, including complete lockdowns. This has led to the closing of production plants and restrictions on export & import of the F&B raw materials and finished goods. Also, government bodies have forced some rules and regulations for the purchase of essential goods. The majority of consumers are buying essential products, which has caused a rapid decline in beverage consumption. According to the trade organizations in the nutritional products industry, there has been a significant impact on many points in the global supply chain for functional foods and dietary supplements, which, in turn, lowered the sales and consumption of butterfly pea flowers, impacting the market.
Based on type, the sterilized powder segment is estimated to command the largest share of the butterfly pea flowers market in 2020, owing to its various benefits, such as easy for handling, transportation, and storage; wide availability; and ease of use in various applications due to high mixability; and ability to maintain the stability of the ingredient functionality until utilized.
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Based on distribution channel, the indirect/B2C segment is expected to hold the largest share of the butterfly pea flowers market in 2020. The large share of this segment can be attributed to the well-established market for butterfly pea flowers in the Asia-Pacific region, the traditional consumption of butterfly pea flowers in some parts of the region, especially in Thailand and Malaysia, and well established commercial farming for these flowers. Also, increased online shopping and social media use further propels the growth of this market.
Based on application, the beverages segment is expected to dominate the butterfly pea flowers market during the forecast period. The dominant position of this segment is mainly attributed to the increasing demand for healthy tea alternatives, growing consumer interest in traditional beverages, specifically in regional cultures, greater nutritional value, increasing per capita spending on beverages, the expanding retail sector, and increased use of butterfly pea flowers as a natural changing coloring agent for beverages.
The key players operating in the butterfly pea flowers market are TSUJIKO Co., Ltd., Siam Industries International, Siam Hibiscus Limited, Arisun ChemPharm Co, Ltd., EverforEver BioTech, Paraman Food Works, Shaanxi Hongda Phytochemistry Co., Ltd., Specialty Natural Product Co., Ltd., Woodland Foods, My Blue Tea, Wild Hibiscus Flower Co., and Yumchaa, among others.
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Scope of the Report:
Butterfly Pea Flowers Market, by Type
- Whole Dried Flowers
- Sterilized Powder
- Extract
Butterfly Pea Flowers Market, by Distribution channel
- Direct/B2B
- Indirect/B2C
Butterfly Pea Flowers Market, by Application
- Beverages
- Tea
- Other Beverages
- Food Products
- Other Applications
Butterfly Pea Flowers Market, by Geography
- Asia-Pacific (APAC)
- China
- India
- Thailand
- Malaysia
- Japan
- RoAPAC
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- RoE
- Latin America
- Middle East and Africa
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