Dublin, Oct. 25, 2024 (GLOBE NEWSWIRE) -- The "Tea Extracts Market Size and Forecast, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type, Category, Form, Application, and Geography" report has been added to ResearchAndMarkets.com's offering.
The tea extracts market size is projected to reach US$ 3.58 billion in 2023 to US$ 5.88 billion by 2031; it is estimated to register a CAGR of 6.4% from 2023 to 2031.
The tea extracts market is witnessing significant growth owing to rising consumer demand for natural, health-focused ingredients. These extracts, rich in bioactive compounds such as catechins, polyphenols, and flavonoids, are increasingly used in beverages, dietary supplements, functional foods, and personal care products. The market is characterized by a shift towards organic and sustainably sourced tea extracts.
The Europe personal care and cosmetics market was valued at ~US$ 94 billion in 2022, as per Cosmetics Europe - the personal care association. The personal care & cosmetics industry adds ~US$ 30 billion to the European economy. Similarly, in Asia Pacific, the expenditure on skincare and makeup products is increasing, which plays a major role in boosting the business of the cosmetic & personal care industry worldwide.
The beauty & personal care sector is significantly growing in Asian countries such as India, China, Japan, and South Korea. As per World Bank data, consumer expenditure in India increased from US$ 1.9 trillion in 2018 to US$ 2.4 trillion in 2022. According to the Korea Customs Service statistics, skincare cosmetics was the largest import category, representing 41.8%, or US$ 711 million of total cosmetic imports, in 2022.
The tea extracts market, based on application, is segmented into food & beverages, dietary supplements, personal care & cosmetics, and others. The food & beverages segment held the largest market share in 2023. The food & beverage application segment of the tea extracts market is a significant driver of its global demand. Global consumers seek products with natural ingredients and additional functional properties that support a healthy lifestyle.
Key players operating in the tea extracts market include Finlays, Botanic Healthcare Pvt Ltd, Firmenich International SA, Givaudan SA, International Flavors & Fragrances Inc, Kerry Group plc, Archer Daniels Midland Company, Sensient Technologies Corp, Kemin Industries Inc, Medikonda Nutrients, Virginia Dare Extract Co Inc, Lipoid-Kosmetik, Florida Food Products, and Dohler GmbH among others. Players operating in the tea extracts market focus on providing innovative and healthy products at affordable prices to fulfill customer demand.
Reasons to buy:
- Progressive industry trends in the tea extracts market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the tea extracts market from 2021 to 2031
- Estimation of the demand for tea extracts across various industries
- Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
- Recent developments to understand the competitive market scenario and the demand for tea extracts across the globe
- Market trends and outlook coupled with factors driving and restraining the growth of the tea extracts market.
- Decision-making process by understanding strategies that underpin commercial interest concerning the global tea extracts market growth
- The global tea extracts market size at various nodes of market
- Detailed overview and segmentation of the tea extracts market as well as its dynamics in the industry
- The tea extracts market size in different regions with promising growth opportunities
Key Attributes
| Report Attribute | Details |
| No. of Pages | 213 |
| Forecast Period | 2023-2031 |
| Estimated Market Value (USD) in 2023 | $3.58 Billion |
| Forecasted Market Value (USD) by 2031 | $5.88 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
Key Topics Covered
1. Introduction
2. Executive Summary
3. Research Methodology
4. Tea Extracts Market Landscape
4.1 Overview
4.2 Porter's Five Force Analysis
4.3 Ecosystem Analysis
5. Tea Extracts Market - Key Market Dynamics
5.1 Tea Extracts Market - Key Market Dynamics
5.2 Market Drivers
5.2.1 Rising Demand for Natural Ingredients in Food and Beverages
5.2.2 Wide Application Scope of Tea Extracts
5.3 Market Restraints
5.3.1 Disruptions in Supply Chain
5.4 Market Opportunities
5.4.1 Growth of Cosmetic & Personal Care Industry
5.5 Future Trends
5.5.1 Rising Trend of Organic and Clean-Label Products
5.6 Impact of Drivers and Restraints
6. Tea Extracts Market - Global Market Analysis
6.1 Tea Extracts Market Revenue (US$ Million), 2021-2031
6.2 Tea Extracts Market Forecast Analysis
7. Tea Extracts Market Analysis - by Type
7.1 Green Tea
7.2 Black Tea
7.3 Oolong Tea
7.4 Others
8. Tea Extracts Market Analysis - by Category
8.1 Conventional
8.2 Organic
9. Tea Extracts Market Analysis - by Form
9.1 Powder
9.2 Liquid
10. Tea Extracts Market Analysis - by Application
10.1 Food and Beverages
10.2 Dietary Supplements
10.3 Personal Care and Cosmetics
10.4 Others
11. Tea Extracts Market - Geographical Analysis
11.1 Overview
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Middle East and Africa
11.6 South and Central America
12. Competitive Landscape
12.1 Heat Map Analysis
12.2 Company Positioning & Concentration
13. Tea Extract Market - Industry Landscape
13.1 Overview
13.2 Organic Growth Strategies
13.3 Inorganic Growth Strategies
14. Company Profiles
14.1 Finlays
14.2 Botanic Healthcare Group
14.3 Martin Bauer GmbH & Co KG
14.4 Firmenich International SA
14.5 Givaudan SA
14.6 International Flavors & Fragrances Inc
14.7 Kerry Group plc
14.8 Archer Daniels Midland Company
14.9 Sensient Technologies Corp
14.10 Kemin Industries Inc
14.11 Medikonda Nutrients
14.12 Virginia Dare Extract Co Inc
14.13 Lipoid-Kosmetik
14.14 Florida Food Products
14.15 Dohler GmbH
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