Global Green Tea Extracts Market, By Application (Food and Beverages, RTD Teas, Functional Foods, Dietary Supplements, Energy Drinks), Category (Conventional, Organic), Form (Liquid and Powder), Type (Tea polyphenols, Tea catechins, Epigallocatechin gallate (EGCG), Caffeine) – Industry Trends and Forecast to 2029.
Green Tea Extracts Market Analysis and Size
Tea is a popular beverage made by boiling the leaves and buds of the Camellia sinensis plant. Green tea is a refreshing drink that aids in stress reduction and is widely consumed around the world. Tea extracts contains a lot of antioxidants and flavonoids. They are thought to have anti-cancer and anti-aging properties, making them a healthier option.
Data Bridge Market Research analyses that the green tea extracts market which was valued at USD 2.9 billion in 2021 is expected to reach the value of USD 5.10 billion by 2029, at a CAGR of 7.30% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
Green Tea Extracts Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Application (Food and Beverages, Pharmaceuticals and Cosmetics and Ready to Drink Beverages), Category (Conventional, Organic), Form (Liquid and Powder), Type (Green Tea, Red Tea, Oolong Tea and Others),
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Tata Consumer Product Limited (India), Unilever (UK), Associated British Foods plc (UK), Vahdam (India), Celestial Seasonings (US), Bombay Burmah Trading Corporation Limited (India), Stash Tea (US), Bigelow Tea (US), Shangri-la Tea (US), Yogi (US), Mighty Leaf Tea (Canada), Numi, Inc. P.B.C (US),
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Opportunities
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Market Definition
Tea extract can be produced organically or conventionally. For tea extract production, natural fertilizers and composts are used, whereas chemical fertilizers for traditional tea extract are followed by extensive chemical treatment. Traditional tea extracts are commercially produced by small-scale producers of organic ingredients and are thus priced higher than organic tea extracts.
Global Green Tea Extracts Market Dynamics
Drivers:
- Increase consumption of dietary supplements due to consumers health consciousness
Green tea extract is widely used in the manufacturing of dietary supplements. Tea extracts dietary supplements aid in blood sugar regulation, blood pressure regulation, weight management, disease prevention, and exercise recovery. It's available in capsules, liquids, and powdered form. Dietary supplement consumption has been increasing in recent years, and the market is expected to grow at an exponential rate in the near future. Consumers' health consciousness is growing around the world, which is impacting the sales of dietary supplements as healthy alternatives to conventional medication.
- Consumers shift toward healthy food choices and a growing demand from the personal care industry
Some of the factors expected to fuel global market growth during the forecast period include an increasing working population, rising demand for ready-to-use products, and expanding retail markets. The increasing use of green tea as a natural ingredient in the personal care industry is expected to drive growth in the global green tea extracts market. Furthermore, rising disposable income levels, rising food and beverage expenditure, and rising consumer awareness of healthy lifestyles are some of the other factors expected to drive green tea extracts market growth.
Opportunities
The growing global demand for organic products is expected to provide market participants with a lucrative opportunity in the coming years. Due to the high demand for tea's functional properties, manufacturers in the global green tea extracts market are constantly introducing new and innovative products. They are also introducing ready-to-drink variants in order to broaden their product portfolio and boost overall sales. Furthermore, they are investing in innovative marketing strategies and celebrity endorsements, which are expected to boost market growth in the coming years.
Restraints
The major restraints of this market are an increase in the trend of coffee consumption and fluctuating raw material prices caused by unpredictable climatic conditions. Furthermore, the industry's key players have adopted a marginal pricing strategy, which is expected to stifle overall market growth. The market's growth is also expected to be hampered by a lack of awareness about the benefits of green tea extracts.
This green tea extracts market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Tea Extracts market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Green Tea Extracts Market
COVID 19 did contribute to an increase in the market for green tea extracts. People preferred to use the non-store-based segment for getting their products at home because they were not leaving their homes because of the governments' precautionary instructions for COVID; the store-based segment was not widely preferred at the time. COVID has still resulted in the market and its key players doing well during the lockdown months. Furthermore, once the situation was stabilised, the store-based distribution channel segment resumed its normal sales rate. However, the impact on the manufacturing unit was significant in the early months of 2020. Because of the high demand, the supply rate could not keep up.
Recent Development
- Archer Daniels Midland Company opened an innovation centre at Singapore's Biopolis research hub in January. This 8,900-square-foot (825-square-meter) space would be useful for flavour and ingredient development, as well as product development
- Givaudan opened a new flagship innovation centre in Switzerland in June 2019. The 12,000-square-meter workspace will be used to develop differentiated and sustainable flavour, taste, and fragrance solutions for the food and beverage, beauty, personal care, and home care industries
- Kerry Group opened a new facility in Tumkur, India, in June 2019 worth USD 23.6 million (€20 million) to expand and boost its research and development efforts.
Global Green Tea Extracts Market Scope
The green tea extracts market is segmented on the basis of type, application, form and category. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Form
- Powder
- Liquid
Type
- Tea polyphenols
- Tea catechins
- Epigallocatechin gallate (EGCG)
- Caffeine
Application
- Food and Beverages
- RTD Teas
- Functional Foods
- Dietary Supplements
- Energy Drinks
Category
- Conventional
- Organic
Global Green Tea Extracts Market Regional Analysis/Insights
The green tea extracts market is analysed and market size insights and trends are provided by country, type, application, form and category as referenced above.
The countries covered in the green tea extracts market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The Asia Pacific green tea extracts market is expected to account for a significant revenue share of the target market. Growing production and sales of tea in the region's countries China, Japan, and India, owing to the products' anti-aging and detoxifying properties, as well as rising tea consumption among people of all ages and genders is expected to drive market growth in Asia Pacific. Another factor expected to drive target market growth is an increase in the number of tea retail outlets. The North America market is expected to grow at a faster rate due to increased demand and consumption of green tea, as well as higher per capita tea consumption in the region, which is expected to be a major factor driving North America green tea extract market growth.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Green Tea Extracts Market Share Analysis
The green tea extracts market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to green tea extracts market.
Some of the major players operating in the green tea extracts market are:
- Tata Consumer Product Limited (India)
- Unilever (UK)
- Associated British Foods plc (UK)
- Vahdam (India)
- Celestial Seasonings,(US)
- Bombay Burmah Trading Corporation Limited (India)
- Stash Tea (US)
- Bigelow Tea (US)
- Shangri-la Tea (US)
- Yogi (US)
- Republic of Tea (US)
- Mighty Leaf Tea (Canada)
- Numi, Inc. P.B.C (US)
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