The global Tea Extracts Market size is expected to reach USD 4,160.7 Million in 2028 and register a revenue CAGR of 6.5% over the forecast period, according to the latest report by Reports and Data. Steady revenue growth of tea extracts market can be attributed to rising awareness among people about health benefits of natural flavors. At present, consumers consider taste or flavor of beverages to be one of the most essential components that persuade them to try those beverages.
Growth of the food & beverage industry is majorly attributed to rising global population, substantially growing demand for food, rise in agricultural activities around the world, and increasing sales of packaged and processed foods. Industry revenue growth is further driven by factors such as surging demand for organic food products, increasing demand for natural food ingredients and additives, and rise in imports & exports of food & beverages worldwide. Technological advancements in food processing and packaging solutions, increasing number of online food delivery businesses, and rising disposable incomes of consumers around the world factors further contributing to the growth of this industry.
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Key Players operating in the industry:
Key players profiled in the global market report include The Archer Daniels Midland Company, Martin Bauer Group, Givaudan, DuPont, Indena SPA, Kemin Industries Inc., Finlays, FutureCeuticals, Inc., Synthite Industry Ltd., and Taiyo International.
Some Key Highlights From the Report:
- By extract type, green tea segment accounted for largest revenue share in 2020. Green tea extracts help in reducing inflammation and blood pressure. These also lower blood fat levels by hindering fat absorption. Additionally, these extracts have high antioxidant content that are beneficial for reducing oxidative stress in the human body. Hence, these can help in reducing signs of aging and providing immunity against various chronic diseases.
- By form, powder segment accounted for a larger revenue share in 2020. Usage of powder tea extracts can often result in low chances of contamination. These also provide easy means of storage and transportation. These extracts contain more active ingredients, compared to tea leaves, and should be effectively used even in a very small quantity. Extensive usage of powder tea extracts as a raw material for energy drinks, supplements, and herbal medicines is driving revenue growth of this segment.
- By application, cosmetics segment revenue is expected grow at a rapid rate over forecast period. Tea extraction is extensively used to prevent skin aging caused due to exposure to sunlight. As per a recent study, topical treatment with tea extracts for a longer period of time can considerably enhance elasticity of skin. Besides, these extracts are found to be very beneficial for reducing skin roughness & facial wrinkles and decreasing skin moisture.
- Tea extracts market in North America accounted for a significantly large revenue share in 2020. Presence of major players in countries in the region and high demand for tea extracts in cosmetics & personal care products, beauty supplements, & Ready-To-Drink (RTD) beverages are expected to drive revenue growth of the market in the region.
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Extract Type Outlook (Revenue, USD Million; 2018-2028)
- Black Tea
- Green Tea
- Oolong Tea
Distribution Channel Outlook (Revenue, USD Million; 2018-2028)
Form Outlook (Revenue, USD Million; 2018-2028)
Application Outlook (Revenue, USD Million; 2018-2028)
- Food & Beverage
Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Identifying the basic business drivers, challenges, and tactics adopted:
- The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Tea Extracts market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
- An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
- Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
- The research inspects the sales channels (indirect, direct, and marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.
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