Tea Extracts Market

Tea Extracts Market Size, Growth, Forecast (2023-2028)

The global Tea Extracts Market size was estimated to be USD 2.5 billion in 2022 and is deemed to reach a value of USD 3.8 billion by 2028 at a CAGR of over 7% during the calculated period. Due to the numerous benefits and applications associated with tea extracts, the popularity and demand for these extracts is increasing.

Market Overview:

Tea is one of the most popular beverages across the globe that can be extracted from camellia leaves. Various tea extracts are commercially available, including white tea extract, green tea extract, black tea extract, and oolong tea extract, according to the processing of source leaves. The tea extract has bioactive ingredients that include epigallocatechin (EGCG), aflavin, polyphenols and caffeine, of which caffeine is the main ingredient. It is ready to drink and is used for healthy drinks. Tea extract is associated with antioxidants that provide rich health benefits. Tea extract is defined as concentrated tea, especially black tea, green tea, and oolong tea. Tea is considered the most popular and commonly served drink on the planet. Tea extracts like green tea are rich in antioxidants and promote heart health. They are used in various industries like food and beverages, cosmetics, and pharmaceuticals, to increase the nutritional value of food.

Recent Developments in Tea Extracts Industry:

• In June 2019, Givaudan opened a new iconic innovation center in Switzerland. The workspace is 12,000 square meters and aims to create differentiated and sustainable taste, flavor and fragrance solutions for the food and beverage, beauty, personal care and home care industries.
• In June 2019, The Kerry Group expanded and strengthened its research and development efforts by establishing a new $ 23.6 million facility in Tumkur, India.
• In January, the Archer Daniels Midland Company started an innovation facility at the Biopolis Research Center situated in Singapore. This 8,900 square foot (825 square meter) space facilitates product development as well as flavor and material creation.

REPORT COVERAGE:

Tea Extracts Market Growth:

Increased consumption of prepared foods and the multifunctionality of tea are expected to drive this market growth.

Drivers:

The global tea extract market continues to grow due to the high consumption of beverages worldwide. The growing demand for tea extract is among the prominent drivers of the target market. Furthermore, as the population's perception of health and well-being increased, consumers tended to be healthier and more natural products. The health benefits associated with consuming tea extracts are responsible for the increasing demand for tea extracts. The tea extract has gained popularity among consumers as it has several therapeutic effects, including relaxing the mind, controlling cholesterol and sugar levels, burning excess fat, and preventing diseases such as Alzheimer's cancer. It also helped by applying tea extracts to animal nutrition, functional foods, cosmetics, and personal hygiene products. Tea extracts are available in both organic and conventional types. The size of the organic tea extract market has exploded in recent years as consumer demand for certified organic products increases. The Asia Pacific is deemed to be the fastest-growing region in the world business. Factors such as increasing income levels with better lifestyles are a major driving force for tea extracts in the Asia Pacific region. In addition, new types of tea extracts have been introduced to the market due to the increased consumption of innovative foods and beverages along with increased demand for improved cosmetics.

The global tea extract market is expected to increase during the forecast period due to increased demand for beverages and the application of tea extract to cosmetics and functional foods. Globally, the demand for green tea extract and black tea extract, along with the main tea-producing and consuming regions, is likely to become popular in the region due to the population's propensity for organic and healthy products. There is also medicinal value associated with this extract. The presence of tea extract in the functional food and functional food industries is supposed to accelerate the growth of the tea extract market over the outlook period. The growth of the cosmetics and personal care industry is also assumed to fuel demand for tea extracts. Tea extract is widely used in the production of various food products like cereals, cakes, instant noodles, dairy products, meat products and confectionery. In addition to adding flavor, aroma, and fragrance to foods, this extract is also known to provide products with certain health benefits. In addition to its use in the food and beverage industry, tea extract is widely used in the pharmaceutical industry due to the presence of highly bioactive ingredients that cause biochemical and pharmacological effects. Tea extracts are also used to promote plant growth and produce skin and hair cosmetics, including creams, cleansers, toners, serums, and others. Therefore, in some industries, the demand for tea extract is expected to increase, increasing interest in research and development activities among manufacturers, resulting in the development of the tea extract business.

Restraints:

Factors such as the increase in the number of advertisements and the marketing of substitutes are expected to hamper industrial growth.

Tea Extracts Market Segmentation Analysis:

By Type:

• Green Tea
• Oolong Tea
• Black Tea
• Others

By Form:

• Liquid
• Powder

By Nature:

• Organic
• Conventional

By Application:

• Food & Beverages
• Pharmaceuticals
• Cosmetics
• Dietary Supplements
• Ready to Drink Beverages
• Others

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

The geographical segmentation includes past, present, and future demand in the areas of the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe. The regional segments are divided into the United States, Canada, Mexico, the United Kingdom, France, Germany, China, Japan, India, Korea, Brazil and Argentina. The high consumption of functional RTD tea-based foods and beverages in the Asia Pacific region is estimated to increase the growth of the global tea extracts market. In addition, large-scale tea production is expected to complement the growth of the market. As the demand for hot beverage tea increases in Asian countries, it will help the market prosper in the Asia Pacific area. Additionally, several small and emerging companies that produce regular tea extracts in the Chinese market are foreseen to help expand the Asia Pacific tea extract market. Furthermore, high living standards and the growth of FDI in countries such as India, Malaysia, Thailand and China open up new opportunities for the tea extract business.

Key Players in the Market:

Major Key Players in the Global Tea Extracts Market are

• DuPont
• Archer Daniels Midland Company
• Frutarom
• MANE
• Teawolf
• Givaudan
• Synthite Industries Ltd
• Synergy Flavors
• AVT Tea Source Ltd
• Taiyo International
• Halssen & Lyon GmbH
• Harrisons Tea
• Indena SPA
• Amax Nutrasource Inc