Global Tea Extracts Market By Type (Green Tea, Black Tea, Oolong Tea, Lemon Tea, Others (White Tea)), Application (Food & Beverages, Pharmaceuticals, Cosmetics, Others), Distribution Channel (Store Based, Non-Store Based), Form (Liquid and Powder), Category (Organic, Conventional) – Industry Trends and Forecast to 2029.
Tea Extracts Market Analysis and Size
Tea is a popular beverage made by boiling the Camellia sinensis plant's leaves and buds. Tea is a refreshing drink that helps with stress reduction and is widely consumed worldwide. Tea extracts are high in antioxidants and flavonoids. They have anti-cancer and anti-aging properties, making them a healthier choice.
Data Bridge Market Research analyses that the tea extracts market which was valued at USD 4.10 billion in 2021 is expected to reach the value of USD 7.37 billion by 2029, at a CAGR of 7.60% during the forecast period of 2022 to 2029. 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.
Market Definition
Tea extracts are concentrated teas made from different teas, such as black, green, and oolong teas. Tea is the world's most popular and widely consumed beverage. Depending on how the camellia sinensis plant's leaves are processed, various tea extracts are available on the market, including white tea extract, green tea extract, black tea extract, and oolong long tea extract.
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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Type (Green Tea, Black Tea, Oolong Tea, Lemon Tea, Others (White Tea)), Application (Food & Beverages, Pharmaceuticals, Cosmetics, Others), Distribution Channel (Store Based, Non-Store Based), Form (Liquid and Powder), Category (Organic, Conventional)
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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 (M.E.A.) as a part of Middle East and Africa (M.E.A.), 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 (U.K.), Associated British Foods plc (U.K.), Vahdam (India), Celestial Seasonings (U.S.), Bombay Burmah Trading Corporation Limited (India), Stash Tea (U.S.), Bigelow Tea (U.S.), Shangri-la Tea (U.S.), Yogi (U.S.), Mighty Leaf Tea (Canada), Numi, Inc. P.B.C (U.S.)
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Opportunities
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Tea Extracts Market Dynamics
Drivers:
- The high growth of tea extracts in the dietary supplements industries
Tea extract is widely used in the manufacture 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. The global dietary supplement market is expanding as a result of rising healthcare costs and a subsequent emphasis on preventive medicine. Consumers' health consciousness is growing worldwide, impacting the sales of dietary supplements as healthy alternatives to conventional medication.
- Shift in the lifestyle as well as 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 tea as a natural ingredient in the personal care industry is expected to drive growth in the global tea capsule 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 tea extracts market growth.
Opportunity
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 tea 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. On the contrary, the market is expected to grow due to increased demand for herbal tea and new flavours and varieties of tea extracts. 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 tea extracts.
This 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 Tea Extracts Market
COVID 19 did contribute to an increase in the market for 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
- In January, Archer Daniels Midland Company opened an innovation centre at Singapore's Biopolis research hub. This 8,900-square-foot (825-square-meter) space would be useful for flavour and ingredient development and 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 Tea Extracts Market Scope
The tea extracts market is segmented on the basis of type, application, distribution channel, form and category. The growth amongst these segments will help you analyze 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
- Green Tea
- Black Tea
- Oolong Tea
- Lemon Tea
- Others
Application
- Food & Beverages
- Pharmaceuticals
- Cosmetics
- Others
Distribution channel
- Store based
- Non store based
Tea Extracts Market Regional Analysis/Insights
The tea extracts market is analysed and market size insights and trends are provided by country, type, application, distribution channel, form and category as referenced above.
The countries covered in the 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 (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
The Asia-Pacific 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 tea extracts 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 Tea Extracts Market Share Analysis
The 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 tea extracts market.
Some of the major players operating in the tea extracts market are:
- Tata Consumer Product Limited (India)
- Unilever (U.K.)
- Associated British Foods plc (U.K.)
- Vahdam (India)
- Celestial Seasonings, (U.S.)
- Bombay Burmah Trading Corporation Limited (India)
- Stash Tea (U.S.)
- Bigelow Tea (U.S.)
- Shangri-la Tea (U.S.)
- Yogi (US)
- Republic of Tea (U.S.)
- Mighty Leaf Tea (Canada)
- Numi, Inc. P.B.C (U.S.)
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