by The 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Tea extracts are obtained by evaporating tea leaves under vacuum to obtain a thick brownish-black concentrate. It maintains all the functional properties of tea and provides aroma, flavor and color benefits. It finds wide applications in food and beverage industry for products such as functional drinks, smoothies, bakery products etc. It also has pharmaceutical applications due to presence of antioxidants.
Market Dynamics:
The tea extracts market is driven by rising health awareness among consumers regarding benefits of antioxidants. Tea contains polyphenols especially epigallocatechin gallate (EGCG) which is a powerful antioxidant. It protects cells from oxidative damage and helps prevent diseases. Additionally, changing lifestyle and busy schedules have increased demand for functional drinks with additional health benefits. Tea extracts are widely used in nutritional and energy drinks to offer antioxidants. Furthermore, growth of food processing industry adopting natural flavors and extracts is also propelling the market growth.
SWOT Analysis:
- Strength: Tea extracts have various health benefits which is a major strength. Tea extracts contain antioxidants that help reduce risk of chronic diseases. They provide energy and help boost metabolism.
- Weakness: Overconsumption of certain types of tea extracts can have side effects such as caffeine jitters and increased anxiety. The quality and concentration of active compounds in tea extracts may vary significantly between brands.
- Opportunity: Rising health conscious consumer base offers significant opportunity for tea extracts market. Launch of new product lines incorporating tea extracts can capture new customers.
- Threats: Strict regulatory norms for product quality and labelling can negatively impact certain players. Vulnerability of tea supply to climate change is also a threat.
Key Takeaways:
The Global Tea Extracts Market Demand is expected to witness high growth, exhibiting CAGR of 43% over the forecast period, due to increasing health consciousness among consumers. Active ingredients in tea extracts such as catechins and caffeine are considered healthy for weight management and stress relief.
Regionally, the Asia Pacific tea extracts market is projected to dominate with over 35% market share owing to rising disposable income, health awareness as well as presence of major producers. China is the largest producer and consumer of tea globally. European countries are also growing rapidly in tea extracts market due to changing dietary preferences.
Key players operating in the Tea Extracts market are 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, Â Martin Bauer Group., and Taiyo International. These companies are focusing on new product launches and capacity expansions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
