Tea is one of the most consumed non-alcoholic beverages in the world with the Asia Pacific region and its nation being the leading consumers. It is extracted from a plant named Camellia sinensis. There is a wide range of tea extracts in the market including black tea, green tea, white tea, and oolong tea extract. The extraction depends on the processing of leaves of the plants and their varieties. The worldwide adoption and increasing demand for different flavors are expected to drive the global tea extracts market within the forecast period.
Tea extracts have numerous applications and health benefits, acting as the major factor behind the global market growth. Tea extracts consist of bioactive enzymes including theaflavins, Epigallocatechin (EGCG), caffeine, and polyphenol. Among these caffeine is the key ingredient. Tea extracts are used as healthy and ready-to-drink beverages. In countries like India and China, it is a daily beverage in most households. The antioxidants in tea extracts have several health benefits, such as calming effects on the mind and nervous system. It also lowers the cholesterol and blood sugar levels keeping cardiovascular ailments at bay. They are also used in cosmetic products due to their properties to reduce signs of aging, dark spots, and blackheads. It also stimulates the hair pores, resulting in hair growth. All these benefits are contributing to the exponential growth in the global tea extracts market.
With the rising consumption across the globe, the demand for tea extract is on the rise. In addition, more people are getting aware of the health advantages of tea over other beverages. This is another driving factor behind the growth of the global tea extracts market. Many people consume tea as an energy drink due to its caffeine content. There are several therapeutic effects of tea extracts, such as reducing excessive fat and prevention of serious ailments like cancer and Alzheimer’s leading to its popularity worldwide. Moreover, tea extracts are used in personal care & cosmetics products, functional foods, and animal nutrition, propelling the overall market growth.
The global tea extracts market is segmented into form, product, and region. In terms of form the market is sub-divided into encapsulated, liquid, and powder. Based on product, the market is bifurcated into cold water soluble and hot water soluble.
Asia Pacific region is estimated to register significant growth in the global tea extracts market, due to its high consumption and production. However, the production of nutraceutical products and tea-based RTD beverages is still in its initial stages. Nevertheless, the market of Europe and North America region are equally competent due to increased business activities and manufacturing processes, making the regions lead in the global market.
The leading players in the global tea extracts market are Archer Daniels Midland, Dupont, Givaudan, Martin Bauer Group, Synthite Industries Ltd., Synergy Flavors, A. Holliday & Co., Finlays, Frutarom, Amax Nutrasource Inc., Kemin Industries, Indena SPA, Futureceutical, Halssen & Lyon GMBH, Cymbio Pharma Pvt. Ltd., Teawolf, Phyto Life Sciences Pvt Ltd., Taiyo International, AVT Tea Sources Ltd., Harrisons Tea, etc. Among these, Teawolf has taken up the adoption of guayusa, a South American herb under an adopt-a-herb program by ABC. Such business strategies are likely to fuel market growth.