How Is the Matcha Tea Market Expanding Beyond Traditional Consumption?
Matcha Tea Market Overview:
Matcha tea is a form of green tea made from young tea leaves. Matcha tea has various health benefits; it reduces weight, decreases cholesterol levels, cures headaches and body pain, and prevents the chances of heart attacks. Due to these, the consumers’ inclination towards this tea is driving the Matcha Tea Market.
The Matcha Tea Market will obtain a CAGR of 7.00% and a value of USD 6.3 billion by 2032 in the forecast period.
The rise in focus on adopting a healthy lifestyle with multiple health benefits associated is a chief driver of the market. The market is noticing rapid growth due to its health benefits. This factor is expanding the market’s growth rate. The tea helps in lowering cholesterol levels. Therefore, it is recommended by health physicians to their customers for daily consumption. This is propelling the market’s growth in the forecast period. Matcha tea also has a large product variety, leading the customers to a wide selection. The change in lifestyle of the present generation is also driving the Matcha Tea Market.
The COVID-19 pandemic has shown a positive effect on the market. The awareness among the people to live a healthy life has driven the market in this period. Their inclination toward healthy beverages, including matcha tea, has propelled the market. The increased demand for matcha tea positively impacted the market growth during the global health crisis. The demand will remain constant until the forecast period.
Key Players:
Major Matcha Tea Market Companies, including The Unilever Group (U.K.), AOI Tea Company (U.S.), Aiya Co. Ltd. (Japan), ITO EN LTD (Japan), Marukyu Koyamaen Co. Ltd. (Japan) and others, are attempting to increase market demand by investing in R&D operations.
Market Segments:
The Matcha Tea Market is segregated into application, form, type formulation, and distribution channels.
The application fragment comprises regular tea, food, cosmetics, matcha beverages, and personal market. The beverages segment dominates the market.
The form segment is categorized into instant premixes, ready-to-drink, and powder forms.
The type segment has traditional, sweetened, and unsweetened.
The formulation segment is divided into plain and flavored. The flavored segment holds the largest market share of the matcha tea market.
The distribution channel is comprised of store-based distribution channels and non-store-based distribution channels. The store-based distribution channels have specialty stores, hypermarkets, supermarkets, and many others.
Regional Analysis:
According to the geographical status, the Matcha Tea Industry covers the regions such as the European region, Asia-Pacific, North American region, Latin America, Middle East, and the rest of the world.
The Asia Pacific region occupies the largest market share value, and it is estimated to obtain a high CAGR in the forecast period. The second-largest market share is captured European region, and it is the fastest-growing region. Latin America captures the third-largest market share due to the higher growth opportunities and health awareness. It is propelling the regional market, followed by the North American region and the Middle East, respectively.
Industry News:
In April 2022, the Spring tea harvest season started at a matcha producing base in Fusheng Township of Shaoxing. Since 1993, the township has cooperated with Japanese enterprises to introduce steamed tea and matcha production lines. The tea company in Fusheng Township owns 10,000 mu of standardized tea gardens with a matcha output of 800 tonnes, which helped the 500 local farmers increase their income.
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