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.
Market Overview:
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.
SWOT Analysis
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.
Key Takeaways
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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The global tea extracts market is estimated to be valued at USD 2.5 billion in 2019 and is projected to reach USD 3.8 billion by 2025, recording a CAGR of 6.9%.
The market is projected to witness significant growth due to factors such as the increase in the consumption of functional foods, rise in health consciousness among consumers, and increasing adoption of tea due to the ill-effects from caffeine, thereby widening the scope of its applications.
The increasing market potential, growing population, and growing demand for different types of tea extracts, as per health benefits, are factors that are projected to impact the growth of the tea extracts market.The demand for tea extracts remains high across developed markets, such as the US and UK.
This demand is projected to remain high due to the increase in the production of processed and functional food products.
Emerging economies, such as Malaysia, Indonesia, and Thailand, in the Asia Pacific region, are also witnessing high growth.
In addition, the exponential growth is projected to be witnessed in the new and emerging markets, such as China, India, and other Asia Pacific countries.Key manufacturers are focusing on expanding in Asia, as it offers cost-effective benefits to manufacturers, in terms of production and processing, due to the low prices of raw materials and cheap labor.
The global Tea Extracts Market size is expected to reach USD 4,160.7 Million in 2028 and register a revenue CAGR of 6.5% over the forecast period, according to the latest report by Reports and Data.
Steady revenue growth of tea extracts market can be attributed to rising awareness among people about health benefits of natural flavors.
At present, consumers consider taste or flavor of beverages to be one of the most essential components that persuade them to try those beverages.The Global Tea Extracts Market includes relevant and verified information relating to the overall market, key players, and their market position and financial standing.
The report utilizes advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the market position of the major players of the industry.Get free sample extract of the report @ https://www.reportsanddata.com/sample-enquiry-form/4645Key Players:Key players profiled in the global market report include The Archer Daniels Midland Company, Martin Bauer Group, Givaudan, DuPont, Indena SPA, Kemin Industries Inc., Finlays, FutureCeuticals, Inc., Synthite Industry Ltd., and Taiyo International.Some Key Highlights From the Report:By extract type, green tea segment accounted for largest revenue share in 2020.
Green tea extracts help in reducing inflammation and blood pressure.
Additionally, these extracts have high antioxidant content that are beneficial for reducing oxidative stress in the human body.
