ID: MRFR/F-B & N/8895-HCR | February 2021 | Region: Global | 90 pages
Tea Extracts Market size is expected to cross USD 4.3 Billion by 2027 at a CAGR of 6.5% during the forecast period of 2020 to 2027. The tea extracts market has tremendous growth potential due to the presence of several market players and buyers across the globe Tea extract manufacturers are constantly investing in expansions, mergers & acquisitions, and partnerships as they strive in this highly competitive and lucrative market. They are also focusing on R&D to launch new products with innovative flavors and wider application scope.
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.
Increasing Demand in Nutraceuticals
|Market Size||USD 4.3 Billion|
|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||
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)