New York, United States , Nov. 02, 2023 (GLOBE NEWSWIRE) -- The Global Tea Extracts Market Size is to Grow from USD 4.81 Billion in 2022 to USD 9.36 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.88% during the projected period.
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Tea extracts are made from the tea plant. It is high in antioxidants, polyphenols, vitamins, and flavonoids. Tea extracts are concentrated forms of black tea, green tea, and oolong tea. Tea is widely regarded as the world's most popular and widely consumed beverage. Since the changing consumer lifestyles and hectic work schedules, there is an increasing demand for ready-made drinks globally. Most tea drinkers said that it relieves anxiety, allowing them to quickly unwind from their hectic lives and demanding work schedules. Due to the increasing demand for tea and other beverages around the world, tea extract producers have a lot of potential. Tea extracts are becoming more prevalent in a variety of applications. Tea extracts and tea leaves both contain bioactive substances such as polyphenols, caffeine and antioxidant properties. Tea extracts have been shown to have a variety of cardiovascular benefits, including decreased cholesterol and blood pressure. Tea extracts are also used to boost the beneficial value of products in industries such as food and beverages, cosmetics, and pharmaceuticals. The demand for tea extracts market size for natural tea extract has increased over the forecast period due to rising consumer demand for organic products.
COVID 19 Impact
The pandemic economic impact on consumer spending and consumption habits. Some consumers cut back on non-essential expenditure, reducing demand for tea extract-based products. As a result, the reduced number of COVID-19 instances and subsequent tactics implemented by government and non-government organisations are expected to support market growth.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Tea Extracts Market Size, Share, and COVID-19 Impact Analysis, By Type (Green Tea, Black Tea, Oolong Tea), By Category (Organic and Conventional), By Form (Liquid and Powder), By Application (Food, Beverages, Pharmaceuticals and Cosmetics), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The green tea segment dominates the market with the largest revenue share over the forecast period
Based on the type, the global tea extract market is segmented into green tea, black tea, and oolong tea. Among these, the green tea segment is dominating the market with the largest revenue share over the forecast period. It has antioxidant properties and anti-inflammatory characteristics which make green tea the most preferred type for consumption. It is subtle and has a delicate flavour, containing less caffeine than fermented tea. Green tea is beneficial for health since it has a higher concentration of organic vitamins than fermented leaves.
The organic segment is witnessing significant CAGR growth over the forecast period.
On the basis of category, the global tea extract market is segmented into organic and conventional. Among these, the organic segment is witnessing significant growth over the forecast period. The market demand for organic forms is due to their ability to reduce blood cholesterol and aid in the body's burning of harmful fats. Organic tea extract is becoming increasingly popular as a weight loss and management supplement.
The powder segment is expected to hold the largest share of the global tea extract market during the forecast period.
Based on form, the global tea extract market is classified into liquid and powder. Among these, the powder segment is expected to hold the largest share of the tea extract market during the forecast period. Powder tea contains a high concentration of antioxidants, which protect the body from harmful free radicals. These antioxidant properties help to reduce stress and improve our health. Tea powder provides numerous health benefits, making it an excellent choice for those seeking a natural way to improve their health.
The food & beverages segment accounted for the largest revenue share over the forecast period.
On the basis of application, the global tea extract market is segmented into food & beverages, pharmaceuticals and cosmetics. Among these, the food & beverages segment dominates the market with the largest revenue share over the forecast period. When tea extracts are added to beverage food, the taste, flavour, and nutrients of that beverage improve. The growing market demand for a healthy lifestyle and disease prevention are two major factors driving the high demand for tea extract beverages. These factors have increased the size of the beverage market in the global tea extract market.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific dominates the market with the largest market share over the forecast period. Asia Pacific has a larger tea extract market than North America and Europe. Furthermore, the Asia Pacific tea extracts market is fragmented, with numerous emerging and small-scale businesses developing generic tea extracts in the market. Countries with increased FDI and rising living standards, such as China, India, Malaysia, and Thailand, will be promising markets for tea extracts. Export opportunities exist in specialised fields where organic food labels are required for product certification and differentiation in major markets. In the global tea value chain, there are only a few players. Vertically integrated companies include Unilever and Tata Tea. The tea industry is expected to benefit from rising luxury food consumption as well as the global economic recovery.
North America, on the contrary, is expected to grow the fastest during the forecast period. US country is driving the growth of the North American tea extract market due to increasing demand for natural products in various industries such as food and beverages, pharmaceuticals and nutraceuticals, and personal care.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global tea extracts market are Kbar Brothers (Pvt) Ltd., Nestle S.A, Tata Global Beverages Limited, Kemin Industries, Inc., Finlay Tea Solutions UK Ltd., Cymbio Pharma Pvt Ltd., Martin Bauer GmbH & Co KG, Amax Nutra Source Inc., AVT Natural Products Ltd., The Republic of Tea, Inc.
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Recent Developments
In March 2022, Westrock Coffee firm, LLC and S&D Coffee & Tea, a Westrock Coffee subsidiary, launched a new visual identity as one firm under one name.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global tea extracts market based on the below-mentioned segments:
Tea Extracts Market, Type Analysis
- Green Tea
- Black Tea
- Oolong Tea
Tea Extracts Market, Category Analysis
- Organic
- Conventional
Tea Extracts Market, Form Analysis
- Liquid
- Powder
Tea Extracts Market, Application Analysis
- Food & Beverages
- Pharmaceuticals
- Cosmetics
Tea Extracts Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & and Africa
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