ID: MRFR/F-B & N/8895-HCR | February 2021 | Region: Global | 90 pages
By 2027, the tea extracts market is estimated to reach USD 4.3 billion, growing at a CAGR of 6.5 percent over the forecast period. Tea extracts are concentrated teas manufactured from various teas, including black, green, and oolong teas. Tea is often considered the world's most popular and commonly consumed beverage. Despite being a major tea producer, Asian countries' consumption of tea-based RTD beverages and nutraceutical goods is still in its infancy. Tea is mostly used as a hot beverage by consumers, not as a convenient product. With amplified awareness of population health and well-being, consumers have become more inclined towards health and natural products. The growing inclination of people and the food industry towards vegetable ingredients such as flavoring or flavoring ingredients all help drive demand for tea extracts.
Due to the increasing need for tea-based beverages for their wellness properties, the Tea Extracts Market is likely to develop significantly during the forecast period. The mounting demand for functional beverages and the availability of several flavor varieties in the market are also driving the growth of the tea extracts market. Tea extract is commonly utilized in the manufacturing of dietary supplements. Tea extract dietary supplements aid in blood sugar regulation, blood pressure regulation, weight control, disease prevention, and workout recovery. Capsules, fluids, and powdered versions are all available. Dietary supplement use has increased in recent years, and the industry is likely to rise exponentially shortly.
Market Synopsis
Tea extract refers to the processed form of tea leaves rich in antioxidants, minerals, and vitamins. Tea Extracts Market is expected to register a notable growth rate during the forecast period owing to the increasing demand for tea-based beverages for their health-promoting benefits. The growth of the Tea Extracts Market is also driven by the high demand for functional beverages and availability of several flavor variants in the market. The increasing demand for organic products across the world is expected to offer a lucrative opportunity to market players in the coming years. In accordance with the high consumption of tea for its functional properties, manufacturers in the global tea market are continuously launching new and innovative products. For instance, Twinings, a brand of Associated British Foods, launched a range of green teas in February 2018 that include a blend of botanicals with natural flavors, thereby strengthening the company’s product portfolio.
Functional tea extracts market are generally priced high due to the ingredients used, production process, and distribution. Unique flavors and the use of all-natural ingredients in functional tea extracts such as ginger, rooibos, and hibiscus make it a highly popular and trending alternative to regular tea extracts. Additionally, availability of more cost-effective substitutes such as coffee and other plant extracts is also hampering the demand for tea extracts in the global market.
Market USP
Increasing Demand in Nutraceuticals
Market Drivers
Market Restraint
Segmentation
By Type
By Form
By Category
By Application
By Region
Mar 2022 Westrock Coffee Company, LLC and S&D Coffee & Tea, a Westrock Coffee subsidiary, announced a united branding that would debut a new visual identity as one company. Moving ahead, the two firms will operate under the same brand, Westrock Coffee, reaffirming their joint ambition to construct and operate the world's most integrated coffee, tea, and extracts supply chain. Westrock Coffee purchased S&D in 2020, uniting the leading private label retail coffee company with the leading foodservice coffee, tea, and extracts company. Under the Westrock Coffee brand, the combined firm is prepared for future growth, with manufacturing, new development, and packaging facilities for tea, coffee, and extracts in central Arkansas, Concord, North Carolina, and Malaysia recently announced.
Key Players
Report Attribute/Metric | Details |
---|---|
Market Size | USD 4.3 Billion |
CAGR | 6.5% (2020-2027) |
Base Year | 2019 |
Forecast Period | 2027 |
Historical Data | 2019-2018 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, Form, Application and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Taiyo International (Japan), AVT Tea Sources Ltd. (India), Dupont (US), Futureceuticals (US), Kemin Industries (US), Synthite Industries Ltd (India), Archer Daniels Midland (US), Frutarom (US), Martin Bauer Group (Germany), Indena SPA (Italy), Teawolf (US), Phyto Life Sciences Pvt Ltd (India), Halssen & Lyon GmbH (Germany), Harrisons Tea (India), Synergy Flavors (US) |
Key Market Opportunities | Tea Extracts Market focusing on R&D to launch new products with innovative flavors and wider application scope. |
Key Market Drivers |
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Frequently Asked Questions (FAQ) :
Taiyo International (Japan), AVT Tea Sources Ltd. (India), Dupont (US), Futureceuticals (US), Kemin Industries (US), Synthite Industries Ltd (India), Archer Daniels Midland (US), Frutarom (US), Martin Bauer Group (Germany), Indena SPA (Italy), Teawolf (US), Phyto Life Sciences Pvt Ltd (India), Halssen & Lyon GmbH (Germany), Harrisons Tea (India), Synergy Flavors (US)