SEATTLE, June 04, 2021 (GLOBE NEWSWIRE) -- The global tea extracts market was valued at US$ 12,625.7 million in 2019 and is expected to exhibit a CAGR of 7.6% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Tea Extracts Market:
To improve the stability of tea extracts, they are being encapsulated using the spray-drying technique. For instance, Kerala Remedies, a prominent Phyto-nutraceuticals company, produces GTCAPS-Green Tea Extract Capsules for catering to health issues among individuals like higher cholesterol levels, high blood pressure, and obesity. Also, Amway Inc. developed NUTRILITE CH Balance capsules (soft gels) that are made up of natural green tea extracts. Proper intake of these soft gels is considered to prove beneficial in maintaining desired cholesterol levels among individuals.
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Key Market Takeaways:
The global tea extracts market is expected to exhibit a CAGR of 7.6% over the forecast period (2020-2027). Shifting consumer preference for the consumption of natural and organic fortified beverages is expected to propel the demand for tea extracts across the globe. Also, growing consciousness about skincare among individuals is driving the demand for tea extract products. Thus, several cosmetic manufacturers are developing innovative products with the usage of tea extracts. For instance, a South Korea-based company, Neogen, offers green tea extract-based foam cleanser and tea cleansing stick.
The health benefits associated with tea extracts and the low presence of caffeine is expected to increase its intake among individuals. Thus, various tea manufacturer associations like ITA (Indian Tea Association) are promoting the consumption of tea extracts by permitting its usage in various beverages and cosmetics.
Major players operating in the global tea extracts market include AVT Natural, Archer Daniels Midland Company, Blueberry Agro, Cymbio Pharma Pvt Ltd., Harrisons Malayalam Ltd., Indena S.p.A., Martin Bauer Group, Synthite Industries Ltd., Synergy Flavors, Teawolf, and Taiyo International.
Competitive Landscape:
Key players are focusing on strategies like expansions to increase their geographical presence and gain a stronger customer base. For instance, In January 2019, AVT Natural expanded its business in Mexico and other Latin American Countries. The company opened its first subsidiary in Queretaro, Mexico, with the goal of serving the Latin American region. Also, the key players have started funding the R&D activities to widen their product portfolio. For instance, in October 2017, ADM opened an ingredient creation, application, development, and customer innovation center in Shanghai, China.
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Market Segmentation:
- Global Tea Extracts Market, By Type:
- Green Tea
- Oolong Tea
- Black Tea
- Herbal/ Fruit Tea
- White Tea
- Others
- Global Tea Extracts Market, By Nature:
- Organic
- Conventional
- Global Tea Extracts Market, By Form:
- Liquid
- Powder
- Encapsulated
- Global Tea Extracts Market, By Application:
- Food & Beverages
- Dietary Supplements
- RTD Beverages
- Cosmetics
- Others
- Global Tea Extracts Market, By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- ASEAN
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Middle East
- Africa
- North America
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