Global Tea Extracts Market
tea extracts market report gives comprehensive outlook on tea extracts across the globe with special emphasis on key region ns such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on tea extracts market gives historical, current, and future market sizes (US$ 1,291.4 Mn) on the basis of source, category, application and region. This report studies tea extracts market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, this industry market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global tea extracts market to better equip clients with possible investment opportunities across the regions (regional investment hot-spots) and market unmet needs (product opportunities). Key stakeholders of this industry market report include suppliers, manufacturers, and marketers, policy makers engaged in tea extract products.
The global tea extracts market estimated to be expand at significant 7.1% CAGR over 2020-2026 due to increasing demand of tea extracts in cold beverages and tea flavoured in bakery products. The rising popularity of ready-to-drink beverages as a replace to sodas and other fruit drinks is estimated to drive the market growth. Change in life style and people aware about the health benefit of green tea one of the key reason for the tea extract market growth. But, excessive amount of tea causes side effects and environmental effect on tea cultivation may hinder the growth of this industry market.
Increasing Demand of Global Tea Extracts in Various Application
Increase in demand of tea extracts in different application such as food, beverages pharmaceuticals, cosmetics and others. Most of the companies of tea extract or beverages are producing ready-to-drink or iced tea for their consumers. The beverages segment is anticipated to grow the global tea extract over forecast period. Increasing the uses of tea extract in cosmetics for skin and hair care.
North America Accounts for Larger Market Revenue Share in
Geographically, global tea extracts market is segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America is projected to be the largest importer of the tea extract products for use in the cosmetic applications, ready-to-drink beverages, and food industries. The consumption of tea extracts increased in North America and Europe region since last couple of years. Asia Pacific is the highest producer of tea extracts in overall the world as well as the consumption of black tea is more in developing countries such as China, India.
Key player’s profiles in the global tea extracts market include:
- DuPont de Nemours, Inc.
- International Flavors & Fragrances Inc.
- Sensient Technologies Corporation
- Firmenich SA
- Carbery Group Ltd. (Synergy Flavors)
- Martin Bauer Group
- Indena SPA
- Kemin Industries
- Amax NutraSource, Inc.
On August 31, 2019, Archer Daniels Midland Company announced that it has expanded its line of plant-based functional extracts to include green tea, an antioxidant blend, and acerola, a tropical fruit that is rich in Vitamin C as well as bioflavonoids and other nutritional ingredients.
On September 02, 2019, Givaudan completed the acquisition of Golden Frog for strengthening natural flavours, extracts and essential oils for the food and beverage industry.
Key Findings of the Report:
- Global tea extracts market expanding at significant CAGR over 2020 to 2026 owing to launch of newer products into market.
- Based on source, category, application and region segment accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in this market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Green tea
- Black tea
- Oolong tea
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA