Tea extracts are obtained from tea leaves through processes such as aqueous extraction or solvent extraction. They are used in various food and beverages products to impart flavor, odor, and nutritional properties. Tea extracts provide health benefits due to the presence of antioxidants like flavonoids and polyphenols. They help reduce the risk of heart diseases and cancer and enhance brain function. Tea extracts are used in variety of product formats including ready-to-drink and powder concentrates.
The global tea extracts market is estimated to be valued at US$ 17.41 Bn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Tea extracts market is primarily driven by the increasing demand for functional beverages globally. Population around the world is more health conscious now and are shifting towards beverages containing antioxidants and polyphenols for its health benefits. Functional drinks containing tea extracts are in high demand. Along with this, increasing use of tea extracts in food products for flavoring and nutritional enhancement is also fueling the market growth. Changing consumer lifestyle and increasing awareness about benefits of green tea and oolong tea extracts are propelling the product demand. Easy availability of tea extracts through online retail channels has further supported market expansion over the forecast period.
SWOT Analysis
Strength: Tea extracts contain antioxidants that help fighting against cell damage. They also contain components like catechins and theaflavins that provide various health benefits like boosting metabolism and reducing blood pressure. Tea extracts finds various applications in food and beverages industries, personal care products, and nutritional supplements which drives its growth. Their versatility allows manufacturers to easily incorporate them into their products.
Weakness: The production of tea extracts requires expensive extraction processes to isolate pure tea components. This increases its production costs. Tea extracts also have a strong flavor profile which may not suit all product applications. Some consumers also prefer using raw tea leaves over extracts.
Opportunity: Growing awareness about health benefits of tea extracts is fueling demand. They are also finding new uses in skin care, weight management, and functional foods. Tea extracts manufacturers can tap lucrative opportunities in developing innovative ingredients, flavors, and product formats. The increasing focus on herbal and plant-based ingredients also presents an opportunity to market tea extracts as natural products.
Threats: Availability of cheaper alternatives like green tea powders as well as raw tea leaves poses pricing challenges. Stringent regulations regarding quality, safety, and labeling of food ingredients also increase compliance costs. Tea extracts production is also influenced by climate conditions and availability of quality tea leaves which leads to supply uncertainties.
Key Takeaways
The global Tea Extracts Market Growth is expected to witness high growth over the forecast period of 2024 to 2031, registering a CAGR of 8.0%. Factors like rising health consciousness, increasing applications in food and beverages, and growing beauty and wellness industry drive the market.
The Asia Pacific leads the global market and accounted for over 45% market share in 2024. Countries like China, India, Sri Lanka are among the top producers and consumers of tea globally. Established markets in Japan and growing demand from developing countries support regional growth. Tea extracts producers can focus on developing value-added products like flavored extracts and ingredients made from premium tea varieties to tap opportunities in Asia Pacific.
North America is projected to be the fastest growing market during the forecast period. Increased consumption of herbal teas and beverages and rising adoption of active ingredients like catechins drive market in this region. Key players are developing innovative formulations targeted at beverage, supplement, and cosmetics segments to bolster sales.
Key players operating in the Tea Extracts market are Apple Inc., Huawei Technologies Co. Ltd., MediaTek Inc., Qualcomm Technologies Inc., Samsung Electronics CO. LTD., Intel Corporation, STMicroelectronics N.V., Toshiba Corporation, NXP Semiconductors N.V., and Broadcom Inc. They focus on strengthening supply chain and distribution channels to expand market presence globally.
For more details on the report, Read- https://techaxen.com/glycerol-the-versatile-elixir-fueling-industries-and-nurturing-skincare-unveiling-the-liquid-golds-hidden-potentials/
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