Matcha Products Key Market Players, Revenue, Growth Ratio, and Forecast 2030
Matcha Products Market Scope
The matcha products market is poised to expand at 7.50 % CAGR over the forecast period. It was valued at USD 3.90 billion in 2030.
The shift from tea to other applications such as foods, beverages, bakery items, and others can provide scope for growth in the market. Health benefits of consumption of matcha and huge prevalence of lifestyle diseases can bode well for the matcha products market and drive sales. The increasing wave of health-consciousness can facilitate market growth.
The outbreak of the COVID-19 pandemic is likely to fuel sales of matcha products as consumers stay indoors. In addition, efforts by customers to enhance their immunity levels can bode well for the market. The potential of matcha to lower stress levels and improve brain functioning can lead to procurement of matcha-based foods and beverages.
Competition Outlook
Mizuba Tea Co., Ippodo Tea Co., ITO EN, LTD, AIYA, Midori Springs Ltd., Andrews & George Co Ltd, Kissa Tea GmbH, TEAJA Organic, Matcha Maiden, and The AOI Tea Company are the global matcha products key market players.
Segmentation
The global matcha products market has been segmented by grade and application.
By grade, the global matcha products market has been bifurcated into ceremonial, standard, and culinary. The standard grade is expected to gain revenues in the market due to affordable prices of its products and its heavy consumption as compared to ceremonial.
Based on application, the global matcha products market has been classified into beverages, sweet & savory snacks, bakery & confectionery, dairy & frozen desserts, and others. Beverages and bakery & confectionery applications can evoke a huge demand in the market. The penchant of customers for trying exotic foods and a palate for new tastes can bode well for the market till the end of the forecast period.
Regional Analysis
The matcha products market has been studied with regards to four key regions—North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
APAC is expected to lead the global matcha products market due to traditional use of matcha for tea in China and Japan. Huge levels of anti-oxidants can drive customers towards purchasing these items. In addition, prevalence of diseases due to lifestyle changes will lead to huge sales of matcha due to its health benefits. Consumption of low-calorie beverages as well as establishment of cafes and restaurants which serve matcha products lead to a bullish growth for the market in the region.
North America is set to grow at a rapid pace during the forecast period due to a sizeable vegan population and inclination towards healthy products. The move by various cafes and beverage chains attempting to capitalize on the trend of health-consciousness has launched matcha-based items. High awareness levels may also play a vital role in the global matcha products market.
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