Press release
Tea Extracts Market Report 2024: Strategies And Recent Developments | Taiyo International Ltd., AVT Tea Sources Ltd., DuPont de Nemours Inc., Futureceuticals Inc., Kemin Industries
Tea Extracts Market Size
The Business Research Company offers in-depth market insights through Tea Extracts Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The tea extracts market size has grown strongly in recent years. It will grow from $4.14 billion in 2023 to $4.44 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to traditional use in asian cultures, increased consumer awareness of health benefits, antioxidant properties and health claims, growth in demand for functional beverages, expansion into non-alcoholic beverage industry.
The tea extracts market size is expected to see strong growth in the next few years. It will grow to $5.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to rising popularity of specialty and herbal teas, shift towards natural and plant-based ingredients, increasing application in functional foods and supplements, research and development in tea extract bioactives, e-commerce and direct-to-consumer sales channels
. Major trends in the forecast period include innovation in tea extract formulations (e.g., concentrates, powders), premium and specialty tea extracts, innovative product formulations, clean label and natural extraction processes, beauty and personal care applications.
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Market Segmentation:
The main types of tea extracts are black tea, oolong tea, green tea, and other types. Black tea extracts refer to extracts made from black tea. Black tea uses the Camellia Sinensis bush to make black tea. Caffeine and other stimulants and antioxidants are present in black tea. The different types of nature include organic and conventional, which have various forms such as powder and liquid. The numerous applications include food and beverages, pharmaceuticals, cosmetics, and others, and are distributed through several channels, including online and offline.
Major Driver - Demand For Dietary Supplemen*ts Spurs Growth In The Tea Extract Market
The rise in demand for dietary supplemen*ts is expected to propel the growth of the tea extract market going forward. Dietary supplemen*ts are a vast range of ingestible goods that are distinguishable from regular foods and pharmaceuticals, which are utilized all over the world. Tea extracts, especially green tea extracts, are commonly utilized in the manufacturing of dietary supplemen*ts. Tea extract dietary supplemen*ts aid in blood sugar regulation, blood pressure regulation, weight management, disease prevention, and workout recovery. For instance, in October 2021, according to a Consumer Survey on Dietary Supplemen*ts, conducted by The Council for Responsible Nutrition (CRN), a US-based trade association for the dietary supplemen*t and functional food industry, 80% of Americans were using dietary supplemen*ts. Therefore, an increasing demand for dietary supplemen*ts is driving the growth of the tea extract market.
Competitive Landscape:
Major companies operating in the tea extracts market include Taiyo International Ltd., AVT Tea Sources Ltd., DuPont de Nemours Inc., Futureceuticals Inc., Kemin Industries, Synthite Industries Ltd., Archer Daniels Midland Co., Frutarom Ltd., Martin Bauer Group Ltd., Indena SPA, Teawolf LLC, Phyto Life Sciences Pvt. Ltd., Halssen & Lyon GmbH, Harrisons Tea Ltd., Synergy Flavors Inc., FInlay Tea Solutions Ltd., Tata Global Beverages Ltd., Givaudan SA, Dehe Bio-tech Co. Ltd., Hainan Qunli Co. Ltd., Sichuan Yujia Tea Co. Ltd., ADM WILD Europe GmbH & Co.KG, Allen Flavors Inc., Amelia Bay Systems, Damin Food Co. Ltd., Dohler GmbH, Goodricke Group Limited, Robertet Group SA, ShanShan Tea Co. Ltd., Shenzhen Shenbao Huacheng Tech. Co. Ltd.
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Top Trend - Innovative Product Offerings Reshape The Tea Extracts Market
New product innovations have emerged as the key trend gaining popularity in the tea extracts market. Major companies operating in the tea extract market are focused on new product innovations to meet consumer demand and strengthen their position. For instance, in February 2021, Finlays, a Kenya-based company that works on tea extraction facilities, launched their new premium natural tea extracts range called the Wellbeing Collection based on brush-to-bottle technology. This new range of premium, natural, and sustainably-sourced tea extracts is designed to help brand owners tap into consumer demand for healthy, natural, and sustainable products. This prevents the degradation of valuable oxygen-sensitive ingredients such as antioxidants.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Tea Extracts Market Characteristics
3. Tea Extracts Market Trends And Strategies
4. Tea Extracts Market - Macro Economic Scenario
5. Tea Extracts Market Size And Growth
…..
27. Tea Extracts Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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