Newark, Sept. 29, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global matcha market is expected to grow from USD 2.73 billion in 2021 to USD 6.19 billion by 2030, at a CAGR of 9.54% during the forecast period 2022-2030.
Healthy foods and drinks based on superfoods like matcha are becoming increasingly popular, given the increasing prevalence of chronic and lifestyle diseases like obesity, diabetes, and heart conditions. The presence of antioxidants, vitamins, minerals, and amino acids in matcha increases brain function, lowers the risk of sickness, enhances liver health, and speeds up metabolism, attracting more consumers to the market. The market will develop as people become more aware of the advantages of matcha.
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Due to increasing demand for matcha, businesses are introducing new matcha-based products with different flavors and packaging. Furthermore, innovative marketing techniques have increased the popularity of high-end, premium matcha. Also, matcha producers offer matcha-based personal care and cosmetics, thereby driving the market's expansion. Such initiatives will broaden the consumer market and provide profitable opportunities to sector participants. However, the high cost of matcha can restrict market development. Furthermore, the growing availability of cheaper alternatives to matcha will challenge the market's growth.
Competitive Strategy
To enhance their market position in the global matcha market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• The Matcha Infused Tea Line was introduced on January 19, 2022, by Aiya America, Inc. Aiya Matcha, the foremost premium Matcha green tea manufacturer worldwide for over 130 years, offers three premium Japanese green teas in their matcha-infused tea line package.
• Sweetened Matcha To Go is a new product that Aiya Co. Ltd. added to its extensive line-up in November 2020. The product is in powder form, and preparing beverages with the powder at home is simple.
Market Growth & Trends
The matcha market witnessed steady growth before the pandemic hit, and unlike most markets, the pandemic has positively impacted the matcha market. The pandemic-induced lockdowns facilitated the growth of homemade matcha beverages, cookies, ice creams, cakes, and other desserts. For instance, the increasing presence of matcha-based health drinks, skin-care products, and dietary supplements promoted by fitness enthusiasts and beauty and lifestyle influencers on social media are positively contributing to the growth of the global matcha market. Additionally, the introduction of matcha-based coffee and tea by multinational coffeehouse Starbucks provides the necessary imputes for developing the worldwide matcha market. Furthermore, the continued enhancement in the quality and diversity of matcha has propelled the market's growth. The shift of consumers to online shopping to avoid contact led to many market players launching their products online, significantly contributing to sales and revenues for the said market players.
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Key Findings
• In 2021, the classic segment dominated the market with the largest market share of 46% and market revenue of 1.25 billion.
The grade type segment is divided into classic, café, culinary and ceremonial. In 2021, the classic segment dominated the market with the largest market share of 46% and market revenue of 1.25 billion.
• Over the forecast period, the personal care segment will grow at the fastest CAGR of 13.29%.
The application segment is divided into regular tea, food processing, personal care, matcha beverages, food services, household, and institutional. Over the forecast period, the personal care segment will grow at the fastest CAGR of 13.29%.
• In 2021, the supermarkets/hypermarkets segment accounted for the largest share of the market, with 55% and a market revenue of 1.50 billion.
The distribution channel segment is divided into supermarkets/hypermarkets, online, business-to-business, convenience stores, specialty stores, and others. In 2021, the supermarket/hypermarket segment accounted for the largest share of the market, with 55% and a market revenue of 1.50 billion.
Regional Segment Analysis of the Matcha Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific emerged as the largest market for the global matcha market, with a market share of around 47% and 1.28 billion of the market revenue in 2021. The Asia Pacific is expected to be the largest market during the forecast period. The matcha market in the Asia Pacific has been expanding rapidly. China and Japan dominate the matcha market in the Asia Pacific. Japan has the ideal soil and environment type necessary for matcha cultivation. Additionally, Japan invented drinking matcha as a part of their tea ceremonies. China is increasing its matcha production with its Chinese matcha to compete with Japan. Australia, Indian and other South Asian countries are contributing to the increasing demand for matcha in the region. The rising western obsession with matcha and matcha-based products has increased matcha export from Japan and China. Classic matcha is the most popular product in the region; however, higher quality premium ceremonial matcha is also witnessing a rise in demand. The increasing expansion of supermarket/hypermarket chains like Maruetsu, Izumiya, Aldi, and Auchan in Japan and China, respectively, is a positive development for the matcha market as the maximum sales happen through these distribution channels. The introduction of matcha-based Oreos, Choco-pies, cookies, chips, and chocolates in the Japanese market is positively influencing the market's growth. The low to no caffeine content and high presence of antioxidants will expand the market by attracting health-conscious consumers.
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Key players operating in the global matcha market are:
• Aiya-Co. Ltd.
• DoMatcha
• Encha
• Green Foods Corporation
• Ippodo Tea Co. Ltd.
• ITO EN Ltd.
• Marukyu Koyamaen Co. Ltd.
• Tata Global Beverages Corporation
• The AOI Tea Company
• Unilever PLC
This study forecasts global, regional, and country revenue from 2019 to 2030. The Brainy Insights has segmented the global matcha market based on the below-mentioned segments:
Global Matcha Market by Grade Type:
• Classic
• Café
• Culinary
• Ceremonial
Global Matcha Market by Application:
• Regular Tea
• Food Processing
• Personal Care
• Matcha Beverages
• Food Services
• Household
• Institutional
Global Matcha Market by Distribution Channel:
• Supermarkets/Hypermarkets
• Online
• Business-to-Business
• Convenience Stores
• Specialty Stores
• Others
About the report:
The global matcha market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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