What Are the Key Sources of Tea Polyphenols Market Growth? Berkem, Arjuna Naturals, ADM, Cymbio, FutureCeuticals, Amax NutraSource Inc., Martin Bauer Group
As more studies bring to light the positive effects tea polyphenols can have on the human body, tea polyphenols market has come to gather increased impetus. The world is now searching means to fighting chronic diseases like cancer, diabetes, obesity and cardiovascular disorders by leading a healthy lifestyle. Tea consumption, which has been mainstream in countries like China and Japan for centuries but has been adopted by the western world much more recently, has demonstrated significant benefits in this regard.
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Tea polyphenols market from functional beverage application would surpass over USD 170 million by 2024. The production and consumption of functional beverages have gained importance as they provide health benefit beyond basic nutritional functions. Beverages are by far most active category owing of convenience and possibility to meet buyer demands. They detoxify the body along with providing essential vitamins and minerals thus, propelling market growth.
Green tea polyphenols industry from cosmetic application may observe gains up to 6.5% in the estimated timeframe. Global organic cosmetic industry was valued at 12.5 billion in 2017 and is expected to grow at 7%. The extracts are utilized in cosmetic products due to its antioxidant abilities for detoxifying from free radicals and treating dull & dry skin. Changing preferences of consumers for organic toner, moistures, and face serums would drive tea extract product demand.
Per capita tea consumption in Turkey has been found to be the highest in 2016 and it is anticipated that countries of Asia Pacific especially, China, India, Japan and Australia will be driving the tea polyphenols market over 2018-2024 with a CAGR of nearly 8.5%. According to Food and Agriculture Organization of the United Nations, global tea consumption will register a steady rise in demand in the next decade and especially in the countries with emerging economies like China and India. China is expected to surpass India in tea production but rapid growth in per capita income in the two countries is anticipated to be positively reflected in tea polyphenols market revenue.
Cancer, the disease that has shaken the medical world and the incidence of which been increasing at an alarming rate has been found to be inversely related to tea consumption. Tea polyphenols market stands to gain significant revenue as it is increasingly coming to light through various epidemiological studies that the potential health benefits associated with tea consumption can partially be attributed to the antioxidative characteristics of tea polyphenols.
Higher prices of green tea polyphenols compared to other beverages including oolong and black tea with little buyer awareness towards product might hinder industry growth. Other restrictive factors include high production cost incurred owing to environmental and transportation with being a labor-intensive industry. This can be overpowered by increasing capital by industry players to expand their product portfolio.
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Global tea polyphenols market share is consolidated and highly competitive with key industry players including
Archer Daniels Midland Company, DuPont, Ajinomoto OmniChem Sabinsa Corporation, FutureCeuticals, Martin Bauer Group, INDENA SPA, Berkem, Amax NutraSource Inc., Sun Time Tea Company, Shaanxi Dongyu Tea, Tea’s Me Company. Manufacturers are investing heavily in product development activities to innovate new products for retaining their existing consumer base and to capture higher market share.
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