Largest segment driving growth of Tea Extracts market |...

Largest segment driving growth of Tea Extracts market

Posted 2023-11-23 13:33:20

SWOT Analysis:

· Strength: Tea extracts contain various antioxidants like catechins and flavonoids which provide several health benefits like reduced risk of cancer, heart disease, diabetes etc. This is a major strength driving its demand.

· Weakness: Quality of extracts may vary based on tea cultivation conditions and manufacturing processes. Standardization of extracts remains a challenge.

· Opportunity: Growing awareness about health benefits of tea is driving new product innovation using tea extracts. There is opportunity to develop more applications in functional food and beverage sector.

· Threats: Presence of alternative plant and herbal extracts offering similar health benefits. Economic slowdowns can negatively impact disposable incomes limiting premium product demand.

Key Takeaways:

The Global Tea Extracts Market Size was valued at US$ 15.11 Bn in 2023 and is expected to reach US$ 43.28 Bn by 2030, expanding at a CAGR of 43% during the forecast period.

The regional analysis indicates North America region dominated the market, accounting for around 25% of global sales in 2023 due to growing consumption of healthy beverages. However, Asia Pacific is likely to witness fastest growth due to rising health consciousness and expanding tea cultivation in major economies like India and China.

Some of the leading 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. These players are focusing on new product development and capacity expansions to cater to growing demand.