The report “Tea Extracts Market by Application (Food, Beverages, Pharmaceuticals, and Cosmetics), Category (Organic, Conventional), Form (Liquid and Powder), Type (Green Tea, Black Tea, Oolong Tea), and Region – Global Forecast to 2025″, The global tea extracts market is estimated to be valued at USD 2.5 billion in 2019 and is projected to reach a value of USD 3.8 billion by 2025, growing at a CAGR of 6.9% during the forecast period. The rise in functional food & beverage consumption, the multi-functionalities of tea extracts, and increased consumer awareness about healthy food products among consumers are factors that are projected to drive the growth of the global tea extracts market
The demand for tea extracts has created opportunities for tea extract manufacturers in emerging markets
The global tea extracts market is dominated by the North American region due to high the standard of living and the rise in the disposable income of consumers. Also, due to the increase in the number of obesity cases and heart-related diseases in the region, people are willing to invest in health-related products and services. Due to their increased popularity, tea extracts find use in various food, beverage, and cosmetic applications.
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The beverages segment is estimated to witness the fastest growth in the tea extract market, in terms of value, in 2019
The shift toward a healthy lifestyle and consumer preference towards healthy drinks have propelled the market for tea extract beverages. The use of synthetic flavors in beverages has declined a lot due to consumer preferences toward natural flavors, which provide the same taste and aroma.
To cater to customer preferences of strong taste and different kinds of aroma, many players have introduced various flavors like lemon, peach, basil, honey, pomegranate, blueberry, and various herbal flavored tea.
The green tea segment, based on type, is estimated to account for the largest market share, by value, in 2019
Green tea is already popular as a preferred beverage type for a long time. Hence, it is an obvious first choice of consumers. The antioxidant and anti-inflammatory properties of green tea make it quite popular for use in both food & beverages and cosmetics.
The increasing demand for tea extracts in Asia Pacific is projected to drive the growth of the market.
Though, a major producer of tea, consumption of tea-based RTD beverages and nutraceutical products are still in the nascent stages among Asian countries. Consumers, majorly favor tea as a hot beverage and not as a convenient product. Thus, the market for Asia Pacific in tea extract consumption is smaller compared to the North American and European markets. In addition, the market for tea extracts is fragmented in the Asia Pacific region, with multiple emerging and small-scale companies developing generic tea extracts in the Chinese market. The increase in FDI and increase in the living standards are going to make countries like China, India, Malaysia, and Thailand a promising opportunity for tea extracts market.
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Top players analyzed:
Archer Daniels Midland (US), Dupont (US), Kemin Industries (US), Givaudan (Switzerland), Synthite Industries Ltd. (India), Synergy Flavors (US), Frutarom (US),Finlays (UK), A.Holliday & Co. (Canada), Martin Bauer Group (Germany), Indena SPA (Italy), Futureceuticals (US), Amax Nutrasource Inc. (US), Cymbio Pharma Pvt. Ltd. (India), Teawolf (US), Phyto Life Sciences Pvt Ltd. (India), Taiyo International (Japan), AVT Tea Sources Ltd. (India), Halssen & Lyon GMBH (Germany), and Harrisons Tea (India).
