The global Tea Extracts Market is estimated to be valued at US$ 15.11 Bn in 2023 and is expected to exhibit a CAGR of 43.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Tea extracts are produced from dried tea leaves and contain high levels of antioxidants like flavonoids and polyphenols. They offer various health benefits such as reducing inflammation, managing weight, improving digestion and brain function. Tea extracts are available in both capsule and powder form and are used as dietary supplements and ingredients in various food & beverage products.
Market key trends:
One of the key trends in tea extracts market is the growing demand for flavored tea extracts. Companies are developing new ranges of flavored tea extracts with fruits, herbs and spices to make tea blends and ready-to-drink beverages more flavorful and appealing. Rising health awareness has also pushed the demand for green tea extracts, known for their anti-aging and fat burning properties. Manufacturers are investing in R&D to expand applications of tea extracts in cosmetics, nutraceuticals and functional foods & beverages. stringent regulatory norms and certification for quality standards is playing a vital role in market growth.
Strength: Tea extracts offer various health benefits such as weight management, cancer prevention, improved heart health, etc. due to the presence of antioxidants. They also help in improving mental alertness and focus.
Weakness: The quality and composition of tea extracts may vary depending on the tea variety, soil and climate conditions, and processing methods. Standardization and quality assurance is a challenge.
Opportunity: There is growing consumer awareness about the health benefits of tea extracts which is driving their increasing usage in food & beverage products as well as dietary supplements. This offers significant growth opportunities.
Threats: Changing climatic conditions and extreme weather events pose threats in terms of availability and price volatility of green tea leaves. Stringent regulations pertaining to usage of botanical extracts in consumables also restrict the growth of the tea extracts market.
The global Tea Extracts Market Share is expected to witness high growth, exhibiting a CAGR of 43% over the forecast period, due to increasing health consciousness among consumers and shifting preference towards herbal ingredients in food and beverages.
Regional analysis: North America dominated the global tea extracts market in 2022 and is expected to continue its dominance over the forecast period, owing to growing consumption of tea-based beverages and dietary supplements. Asia Pacific is anticipated to be the fastest growing market for tea extracts between 2023-2030, driven by large production and consumption of tea in countries like China and India.
Key players operating in the 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, Martin Bauer Group., and Taiyo International. Market leaders are focusing on capacity expansion as well as new product development through innovative extraction and standardization techniques to meet the rising demand.
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