The global 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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Tea extracts are used in making functional beverages. As functional beverages provide health benefits such as energy, weight management, improved brain activity, reduced stress and many more, there is a rise in demand for tea extracts from functional beverages manufacturers. Tea extracts contain polyphenols like caffeine, flavonoids and catechins that provide various health advantages.
Market Overview:
Tea extracts are derived from tea leaves of Camellia sinensis plant and used in making beverages, functional foods, dietary supplements and personal care products. Tea extracts provide various health benefits due to presence of antioxidants.
Market key trends:
One of the key trends in tea extracts market is the growing adoption of organic and plant-based ingredients. Consumers are increasingly preferring organic and natural ingredients in food and beverages due to rising health consciousness. This is propelling manufacturers to use organic tea extracts produced without pesticides and chemical fertilizers. Additionally, there is a rise in demand for vegan and plant-based food and beverages from ethically-conscious consumers, which is favoring the demand for tea extracts.
Segment Analysis:
The global tea extracts market is segmented by nature into conventional and organic. Among these, the conventional segment holds the largest market share. Due to the low cost involved as compared to organic tea extracts, conventional extracts witness higher demand. However, the organic segment is growing at a higher pace owing to rising demand for chemical-free products.
Key Takeaways:
The Global Tea Extracts Market Size is expected to witness high growth, exhibiting CAGR of 43.0% over the forecast period, due to increasing demand for nutritional drinks and growing application in the food and beverage industry.
Regional analysis:
North America holds the dominant share in the global tea extracts market due to rising consumption of wellness beverages and dietary supplements. Asia Pacific is projected to witness fastest growth owing to increasing spending on wellness products in India and China in the coming years.
Key players:
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. The market is highly competitive with organized players focusing on new product launches and innovations to meet the growing demand for organic tea extracts. The market players are investing in R&D activities to develop new extraction technologies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it