The Tea Extract market is anticipated to grow with a CAGR of 7.1% over the forecast period of 2019-2028. Tea extract is a widely used drink across the globe. It is widely anticipated due to its various benefits such as high antioxidants content, promote heart health, reduce risk of cancer etc. The caffeine and other ingredients in the tea makes it a stimulant drink. The rising consumption of convenience food is expected to the drive the market intensely in the forecast period. The various multifunctional benefits of tea extract are also expected to drive the market immensely in the future. Moreover the rising trends to adopt a healthy lifestyle is expected to contribute to the market growth in the forecast period.

Top Driver: Increasing Awareness about the Multifunctional Benefits of the Tea is expected to drive the Market in the Future 

Tea is known to be an exceptional drink owing to the various health benefits it provides to the human body. Tea is known to be a wonderful source of antioxidants which helps to reduce oxidative stress and fight the cell damage. Furthermore, the benefits of tea for heart, liver functions, improvement exercise performance has made the tea an overall beneficial drink an accepted by a huge population across the globe. Furthermore, the growing concerns of people to adopt a healthy lifestyle has anticipated the tea extract market widely.

Although the growing debate on how caffeine in the tea extract should be avoided people are reluctant to adopt tea in their diet. This factor could prove to be a major restraint for the market.

Application Segment to boost the Market Growth in the Future

Based on the Application, the Tea Extract market has been segmented as food and beverages, cosmetics and pharmaceutical industry. Tea has been used to form various products in the food industry especially for flavoring. The growing adoption of tea in cosmetics in the form of face masks, hair masks etc. has triggered the segment extensively towards growth. The use of tea in pharmaceutical refers to the extraction procedures. Various components are extracted from the tea owing to their use in production of medicines to treat different diseases.

Based on type the market is segmented into green tea, black tea, oolong tea and others. On the basis of form the market is segmented into powder and liquid.

Rising Demand for Tea in Asia Pacific is Driving the Market

Asia Pacific accounted for the largest market share in the tea extract industry. Such a significant growth is owing to the fact that Asia Pacific is the largest producer of the tea and consumer of the product. Regions such as China, India, Malaysia and Thailand are large scale tea producers and contribute to the market growth in Asia Pacific immensely. Although, use of tea as a hot beverage is preferred in Asia Pacific and not as a convenient product like in North America and Europe. The European market is also expected to drive the market widely followed by North America.

Players to Focus on Expanding Applications in the Tea Extract Industry

The global Tea Extract market is expected to grow with a significant CAGR due to presence of various companies including Archer Daniels Midland,  Kemin Industries, DuPont, Givaudan, Synergy Flavors, Taiyo International, Tea wolf, Synergy Flavors, Phyto Life Sciences Pvt Ltd., Harrisons Tea and others which are developing new products to drive the market growth.

Kerry group:  Kerry group opened a new center in India to develop its research and development efforts. The center was opend in June 2019.

Givaudan:  In June 2019, Givaudan opened a new innovation center in Sweitzerland, which will focus of the creating new flavors, tastes and fragrances for food and beverage, cosmetic and home care products.

Scope of the Report

By Type

• Green tea
• Black tea
• Oolong tea
• Others

By Application

• Food and Beverages
• Cosmetics
• Pharmaceutical industry

By Form

• Powder
• Liquid

By Region

• North America
• Europe
• Asia Pacific
• Rest of the World

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.