The Tea Extracts Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Tea Extracts Global Market Report 2024, The tea extracts market size has grown strongly in recent years. It will grow from $4.14 billion in 2023 to $4.44 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to traditional use in asian cultures, increased consumer awareness of health benefits, antioxidant properties and health claims, growth in demand for functional beverages, expansion into non-alcoholic beverage industry.
The tea extracts market size is expected to see strong growth in the next few years. It will grow to $5.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to rising popularity of specialty and herbal teas, shift towards natural and plant-based ingredients, increasing application in functional foods and supplements, research and development in tea extract bioactives, e-commerce and direct-to-consumer sales channels
. Major trends in the forecast period include innovation in tea extract formulations (e.g., concentrates, powders), premium and specialty tea extracts, innovative product formulations, clean label and natural extraction processes, beauty and personal care applications.
The rise in demand for dietary supplements is expected to propel the growth of the tea extract market going forward. Dietary supplements are a vast range of ingestible goods that are distinguishable from regular foods and pharmaceuticals, which are utilized all over the world. Tea extracts, especially green tea extracts, are commonly utilized in the manufacturing of dietary supplements. Tea extract dietary supplements aid in blood sugar regulation, blood pressure regulation, weight management, disease prevention, and workout recovery. For instance, in October 2021, according to a Consumer Survey on Dietary Supplements, conducted by The Council for Responsible Nutrition (CRN), a US-based trade association for the dietary supplement and functional food industry, 80% of Americans were using dietary supplements. Therefore, an increasing demand for dietary supplements is driving the growth of the tea extract market.
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The tea extracts market covered in this report is segmented –
1) By Type: Black Tea, Oolong Tea, Green Tea, Other Types
2) By Nature: Organic, Conventional
3) By Form: Powder, Liquid
4) By Application: Food and Beverages, Pharmaceuticals, Cosmetics, Other Applications
5) By Distribution Channel: Online, Offline
New product innovations have emerged as the key trend gaining popularity in the tea extracts market. Major companies operating in the tea extract market are focused on new product innovations to meet consumer demand and strengthen their position. For instance, in February 2021, Finlays, a Kenya-based company that works on tea extraction facilities, launched their new premium natural tea extracts range called the Wellbeing Collection based on brush-to-bottle technology. This new range of premium, natural, and sustainably-sourced tea extracts is designed to help brand owners tap into consumer demand for healthy, natural, and sustainable products. This prevents the degradation of valuable oxygen-sensitive ingredients such as antioxidants.
The tea extracts market report table of contents includes:
1. Executive Summary
2. Tea Extracts Market Characteristics
3. Tea Extracts Market Trends And Strategies
4. Tea Extracts Market - Macro Economic Scenario
5. Global Tea Extracts Market Size and Growth
.............
31. Global Tea Extracts Market Competitive Benchmarking
32. Global Tea Extracts Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Tea Extracts Market
34. Tea Extracts Market Future Outlook and Potential Analysis
35. Appendix
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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.
