Tea Extracts Market to Witness Huge Growth during Estimated Time Period due to its Prominent Applications

The research report " Global Tea Extracts Market: By Source (Black Tea, Green Tea and Oolong Tea), By Form (Powder, Liquid), By Category (Organic, Conventional) By Application (Food, Beverages, Pharmaceuticals, Cosmetics and Others), and Geography – Global/Region/Country Forecast to 2027", The global tea extracts market is anticipated to witness a CAGR of 7.1% over the forecast period 2021-2027.

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Food Sector is anticipated to propel the huge growth in Tea Extract Market:
The market for tea extracts estimated to be valued at US$ 1,376.4 Mn in 2020 and poised to grow at 7.09% CAGR over the forecast period (2021-2027). Green tea extract, white tea extract and black tea extract are different tea extracts available commercially. Oolong Tea segment accounted a significant share in global tea extracts market and projected to grow at 5.53% CAGR over 2021 to 2027 and projected to reach US$ (V) Mn by 2027. Black Tea segment projected to grow at a CAGR of 5.0% over 2021 to 2027 and projected to reach US$ 179.8 Mn by 2027.

Tea extract consists of bioactive ingredients such as caffeine, aflavin, epigallocatechin and polyphenols. Tea extract has several health benefits to provide as it is associated with antioxidant. Tea extract is classified as green tea, oolong tea and black tea. Tea extracts are used in different industries such as cosmetics, pharmaceuticals and food and beverages for enhancing the nutritional food value. Growing demand of tea extracts in these different applications will lead towards the market growth. The global tea extracts market anticipated to grow at high CAGR rate owing to the factors such as demand for tea extracts in cold beverages. Another market driving factor is increasing preference towards ready to drink beverages as a substitute to full drinks and sodas. Lifestyle change and awareness among people about health benefits of green tea is another key fostering factor of market growth. Due to increase obesity and other health issues, people are the aware for benefit of the green tea and its products because green tea contains between 30% and 40% water extractable polyphenolswhich has antioxidant and anti-inflammatory activities and reduce blood pressure and cholesterol. People of the developed and developing countries drink green tea in beverages and it is also used in the baked products such as muffins, cakes, breads. Green tea also used in cosmetics products because it is good for the skin, it is an antibacterial agent and contain vitamins. These all the beneficial effect of green tea growing the demand of green tea extracts among the people However, huge intake of tea can cause side effects.

North America account for huge market revenue share in the global tea extracts market:
Global tea market is categorized into prominent regions such as Europe, Latin America, Middle East, Africa, North America and Asia Pacific. Among all these prominent regions, North America becomes the huge market revenue share obtainer and is anticipated to be the biggest importer of the tea extract products for use in the food industries cosmetic applications and ready-to-drink beverages. Increasing intake of tea extract is observed in Europe and North America since last few years. Asia Pacific also comes among the highest tea extract manufacturer. Intake of black tea is recorded hugely in developing economies like India and China.

Tea extracts production companies more focused for the new innovation and development:
Advances in research and technological innovations greatly contribute to increase the tea production to meet the increasing demand of end users. There are some key player of tea extracts who spent more amount for R&D divisions such as Dupont de Nemours, Inc. R&D expenses was US$ 955 Mn in 2019, Givaudan spent 8.5% or US$ 537 Mn for research and advancement in product manufacturing. Now a days every industry implement the innovative ideas to create new products to rise the demand of their products and also increasing usage of these products in food & beverages industries for various products preparations.

Competition Assessment:
This market report provides tea extract market dynamics, current trends, drivers and future opportunities. It also covers possible challenges for the stakeholders working in the market. Furthermore, it also identifies competitive analysis, which includes giving information on key players along with their profiles. A few of the leading key players of operating in global tea extracts market include ADM, DuPont de Nemours, Inc., International Flavors & Fragrances Inc., Givaudan, Sensient Technologies Corporation, Firmenich SA, Carbery Group Ltd. (Synergy Flavors), Finlays, Martin Bauer Group, Indena SPA, Kemin Industries and Amax NutraSource, Inc.

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