Tea Extract Market to Garner $4,500.7 Million, Globally, by 2027 at 6.8% CAGR: The Insight Partners

The Insight Partners

The Insight Partners

Growing demand from food, beverages, and pharmaceutical industries is projected to escalate the tea extract market at a CAGR of 6.8%

NEW YORK, UNITED STATES, October 17, 2022 /EINPresswire.com/ -- According to The Insight Partners’ research, the "Global Tea Extract Market to 2027 - Analysis and Forecasts by Source (Black Tea, Green Tea, Oolong Tea, Others); Application (Food, Beverages, Pharmaceuticals, Cosmetics); Nature (Organic, Conventional); Form (Powder, Liquid), and Geography", The global tea extract market is accounted to US$ 2,520.0 Mn in 2018 and is expected to grow at a CAGR of 6.8% during the forecast period 2019 - 2027, to account to US$ 4,500.7 Mn by 2027. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

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Report Coverage Details

Market Size Value in US$ 2,520.0 Million in 2018
Market Size Value by US$ 4,500.7 Million by 2027
Growth rate CAGR of 6.8% from 2019-2027
Forecast Period 2019-2027
Base Year 2019
No. of Pages 204
No. of Tables 108
No. of Charts & Figures 86
Historical data available Yes
Segments covered Source, Application, Nature, Form, and Geography
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Black tea in the tea extract market is leading the market at the global level during the forecasted period. Black tea extracts are known to provide various benefits to health and are comparatively less astringent with a mellower flavor than other tea. Black tea extract also exhibits anti-oxidant, anti-allergic, anti-viral, and anti-spasmodic properties owing to which it is widely preferable by consumers. Further, black tea helps to lower the incidence of several diseases such as neurological disease, diabetes, cardiovascular disease, cancer, and others, and also ensures oral health.

Conventional tea in the tea extract market is leading the market at the global level during the forecasted period. Conventional farming is one of the most practiced farming methods which involves the use of fertilizers, pesticides, and other chemical compounds to cultivate the crop. The conventional form of farming technique is widely adopted among farmers in order to obtain higher yields and availability of products at low cost.

The liquid form in the tea extract market is leading the market at the global level during the forecasted period. The liquid form of tea extracts is an aqueous solution of tea extracts as a concentrated product. The powdered form of tea extracts is mixed with water along with several preservatives to form aqueous tea concentrates. These concentrates can then be used in several application bases such as food, beverages, pharmaceuticals, and other end-uses. The liquid form of tea extracts is known to possess a strong aroma and taste and possess a rich nutritional profile.

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Tea is considered the most popular and commonly served beverage in the globe. Tea extracts are defined as the concentrated form of tea and are extracted from black tea, green tea, and oolong tea, among others. The global tea extract market, by source, has been segmented into black tea, green tea, oolong tea, and others. The black tea segment dominated the global tea extract market in 2018. Moreover, the green tea segment is anticipated to grow at a faster pace over the projected period. Green tea extract has emerged as a natural solution to all health-related issues. This factor is propelling the growth of the green tea extract market over the forecast period.

Tea extracts are being widely used in the production of several food items such as dairy products, cereals, cakes, instant noodles, meat & meat products, and confectionery. Besides adding taste, flavor, and aroma to food items, these extracts are also known to impart certain health benefits to the products. For instance, green tea extract adds brightness, hardness, stickiness, astringency, and sweetness to the formation of bread. Further, the consumption of black tea is also associated with several health benefits such as lowering the incidence of acute and chronic diseases and ensuring heart health, which makes it a convenient form of tea used across several food and beverage applications. Other than convenience food items, tea extracts are also used in functional and fortified food and beverages such as dietary supplements, nutritional bars, and drinks to enhance the nutritional aspect of the product. Apart from usage in food and beverage applications, tea extracts are widely used in the pharmaceutical industry owing to the presence of a highly bioactive constituent, which causes biochemical and pharmacological effects.

Tea Extract Market: Competitive Landscape and Key Developments

ADM WILD Europe GmbH & Co.KG, Allen Flavors, Inc., Amelia Bay, Damin Food (Zhangzhou) Co., Ltd., Dohler, Finlays, Fujian Xian Yang Yang Biotechnology Co., Ltd., Goodricke Group Limited, Martin Bauer Group, Quala are among the key players profiled during the study of the Tea Extract market. In addition, several other essential market players were also studied and analyzed to get a holistic view of the market and its ecosystem.

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