Pune, Oct. 26, 2023 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that “The Matcha Market had an estimated value of USD 4.10 billion in 2022 and is expected to reach USD 7.49 billion by 2030, with a projected compound annual growth rate (CAGR) of 7.8% during the forecast period from 2023 to 2030”.
Market Overview
Matcha, which translates to "powdered tea" in English, is a type of green tea renowned for its vivid green color, distinct flavor, and a plethora of potential health benefits. It is primarily derived from the leaves of the Camellia sinensis plant, which is also used for producing other types of green tea, black tea, and oolong tea. What sets matcha apart is the meticulous cultivation, harvesting, and preparation process, which results in a finely ground, bright green powder.
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Market Analysis
The matcha market has witnessed a remarkable surge in popularity in recent years, with consumers across the globe increasingly embracing this vibrant and nutritious powdered green tea. Matcha is celebrated for its impressive health benefits, primarily attributed to its high concentration of antioxidants, particularly catechins. These antioxidants are known to promote overall well-being, boost metabolism, and potentially reduce the risk of chronic diseases. As consumers seek healthier alternatives to traditional beverages, the health-conscious trend fuels the demand for matcha-based products. The versatility of matcha as an ingredient has opened up a world of opportunities in the culinary sphere. Chefs, bakers, and food enthusiasts are incorporating matcha into a wide array of recipes, from matcha lattes to matcha-infused desserts, offering innovative and appealing flavors. The culinary applications of matcha have not only broadened its consumer base but also fueled growth within the food and beverage industry. The globalization of food trends has played a significant role in the market's growth. As international cuisines gain popularity worldwide, matcha has become a cross-cultural ingredient. This globalization has introduced matcha to new demographics, boosting its demand across the globe.
Matcha Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 4.10 billion |
| Market Size by 2030 | USD 7.49 billion |
| CAGR | CAGR of 7.8% over 2023-2030 |
| Key Segments |
|
| Key Market Players | Ikeda Tea World, AOI Tea Company, Unilever, TATA Consumers products Ltd., Encha, The Hain Celestial Group Inc., ITO EN Ltd, Grace & Green, Green Foods, and Marukyu Koyamaen. and other players |
| Pricing & Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options. |
Key Takeaway from Matcha Market Study
- Supermarkets and hypermarkets have established themselves as significant players in the market. These large retail chains offer consumers the convenience of purchasing matcha products alongside their regular grocery shopping. Supermarkets and hypermarkets are widely accessible to consumers, making matcha products more readily available. This accessibility has contributed to a steady rise in matcha sales.
- The powder segment of the matcha market encompasses a wide range of products, from traditional matcha tea powders to matcha-flavored culinary ingredients. Matcha powder's versatility in both sweet and savory dishes has expanded its appeal beyond traditional tea consumption. It is used in baking, cooking, and even mixology, making it a versatile ingredient.
Recent Developments
- Kataoka & Co., Ltd. is thrilled to introduce a groundbreaking service to all matcha enthusiasts, aptly named "Matcha Direct." This innovative offering sets a new standard in the world of matcha by ensuring that customers receive the freshest, highest-quality matcha directly from the source.
- Vancouver, known for its thriving craft beer scene, has just welcomed a fresh addition to its craft brew lineup as Mo Beer Company launches with a unique offering: Mo Matcha Ale. Mo Beer Company, a brainchild of passionate brewers with a penchant for creativity, has been making waves since its recent inception.
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Market Dynamics Analysis
The matcha market has witnessed remarkable dynamics in recent years, driven by a confluence of factors that have propelled its growth. Moreover, the expanding consumer base seeking natural, organic, and sustainable food options has fueled the demand for matcha, which is often perceived as a healthier alternative to traditional teas and energy drinks. However, these dynamics are not without their restraints and challenges. One notable restraint is the relatively high cost of matcha compared to other tea varieties, which can deter price-sensitive consumers. The authenticity and quality of matcha products in the market remain a challenge, as subpar or impure matcha can tarnish the reputation of the product. Competition in the market is intensifying, with an influx of new market entrants, making it crucial for established brands to continuously innovate and differentiate themselves. Furthermore, supply chain disruptions and geopolitical factors can pose threats, impacting the availability and cost of matcha products, particularly since matcha is often imported from countries like Japan and China.
Key Regional Developments
Asia-Pacific, particularly Japan, is the historical home of matcha and continues to be a dominant player in the market. Matcha's rich cultural ties to Japan have led to a thriving domestic market, where it's consumed not only as a beverage but also as a key ingredient in traditional confectionery. North America is another key region significantly impacting the matcha market dynamics. In the United States and Canada, matcha has become a symbol of wellness and healthy living, and this trend shows no signs of slowing down. In Europe, matcha has gained recognition as a versatile ingredient in both traditional and innovative culinary applications. Matcha-flavored pastries, chocolates, and beverages are gaining popularity across the continent, offering consumers a new twist on familiar tastes.
Impact of Recession
The ongoing recession has accelerated the shift towards online shopping. Consumers seeking convenience, cost savings, and safety during the pandemic have increasingly turned to e-commerce for their purchases. The matcha market has embraced this trend by strengthening its online presence. Matcha retailers have invested in user-friendly e-commerce platforms, ensuring that consumers can easily access and purchase their products. As a result, the market has been able to tap into a wider customer base, mitigating the impact of reduced foot traffic in physical stores. In the face of economic challenges, the market has responded with innovation and diversification. Manufacturers have introduced matcha-infused products across various categories, from confectionery to skincare. These innovations have expanded the market's reach and solidified its presence in the global market.
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Table of Contents:
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value chain analysis
6. Porter’s 5 forces model
7. PEST analysis
8. Global Matcha Market Segmentation, by Product Type
8.1 Regular
8.2 Flavored
9. Global Matcha Market Segmentation, by Form
9.1 Powder
9.2 Liquid
10. Global Matcha Market Segmentation, by Nature
10.1 Conventional
10.2 Organic
11. Global Matcha Market Segmentation, by Distribution Channel
11.1 Supermarket/Hypermarket
11.2 Specialty Store
11.3 Foodservice
11.4 Online Store
11.5 Others
12. Global Rice Protein Market, by Region/Countries
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Poland
12.3.1.2 Romania
12.3.1.3 Turkey
12.3.1.4 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia-Pacific
12.5 Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of Middle East
12.5.2 Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
13. Company Profiles
13.1 AOI Tea Company
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 Swot Analysis
13.1.4 The SNS View
13.2 Ikeda Tea World
13.3 Unilever
13.4 The Hain Celestial Group Inc.
13.5 ITO EN Ltd
13.6 Encha
13.7 Grace & Green
13.8 Green Foods
13.9 TATA Consumers products Ltd.
13.10 Marukyu Koyamaen
14. Competitive Landscape
14.1 Competitive Bench marking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
16. Conclusion
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