Tea Extracts Market size was valued at USD 2.5 billion in the year 2019 and is anticipated to grow at a CAGR of USD 3.8 billion till the year 2025. Tea Extract contains bioactive ingredients such as caffeine, theaflavins, Epigallocatechin and polyphenol. Tea extract has the potent to boost metabolism system and even helps to reduce excess body fat. There are many other significant benefits of using tea extracts such as they have the quality to calm our mind and nervous system, reduce cholesterol and blood sugar level, and lessen the threat of cancer and a few other illnesses like Alzheimer. These extracts associated with antioxidants.
Tea Extracts Market Dynamics:
Global Tea Extract market is anticipated to grow at remarkable rate during the forecast duration because of the rising demand for ready-to-drink beverages. There is growing demand from nutraceuticals and cosmetics as tea extracts are hugely used in cosmetics. Some of the crucial key drivers include increasing awareness about the side effects of synthetic flavors, huge demand for herbal dietary supplements, increasing per capita expending on processed food and increasing demand for innovative beverages. Unstable costs of raw materials, availability of cost-efficient substitutes and limited availability of raw materials are some key restraints of the tea extracts market. As the tea extracts have many health benefits to offer, popularity of tea products is increasing day by day. There are many uses of tea extract hence demand for tea extracts is increasing and consequently it is driving the tea extracts market growth. Food sector is anticipated to record the high growth in tea extracts market according to the forecast period. Ingredient manufacturers like Givaudan and ADM have been making use of tea flavors in food products like dairy products, bakery products, frozen desserts and confectionery products. Popularity of this flavor among customers is increasing the demand for tea-based foods and consequently increases the market growth during forecast period.
Tea Extracts Market Categorization
The global tea extract market is categorized on the basis of application, type, and region and distribution channel. Asia Pacific is one of the significant tea producing and consuming region around the globe therefore there is increasing demand for both black and green tea extraction, which is likely to obtain traction in the region. Pioneering use of green tea extract in many cosmetic products is giving rise to the market growth and creates several growth opportunities. As there is growing awareness amid consumers about the negative health effects of beverages hence they opt for green tea and black tea and consequently growing demand for tea extract will drive the market growth. Green tea sector is anticipated to dominate the tea extracts market according to forecast period. There are many people around the globe prefer taking green tea. Green tea is a healthy option for caffeinated drinks. Green tea becomes the most preferred beverage for many people due to its antioxidant property balanced with its anti-inflammatory features. Boosting factors of the market are increasing intake of premium foods and increasing fame of functional foods among people.
The competitive landscape gives details about the market position of industry players working in the tea extract market on the basis of power of their business strategies and project offerings analyzed on the base of proprietary model. Market players operating in the market have already implemented strategies like agreements, joint ventures, acquisitions, product launches and expansions.
Prominent players working in the global tea extract market are:
- Finlay Tea Solutions UK Ltd
- Akbar Brothers (Pvt) Ltd
- Martin Bauer GmbH & Co KG
- Tata Global Beverages Limited
- Amax NutraSource Inc
- Cymbio Pharma Pvt Ltd
- Kemin Industries, Inc
- AVT Natural Products Ltd
- The Republic of Tea, Inc
- Nestle S.A.
Improving and increasing living standard of people is making the countries such as India, Thailand, China and Malaysia a promising market for the producers of tea extract.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2020) and forecast (2021-2027)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market