Tea Extracts Market Size, Scope, Growth Opportunities Forecast 2022-28

According to Precision Business Insights (PBI), the latest report, the tea extracts market is expected to be worth USD 3.0 billion in 2022, growing at a 7.10% CAGR from 2022 to 2028. Demand for tea extracts is fueled partly by rising consumer interest in natural and healthy products, increased consumer knowledge of population health, and a shift in the food sector toward using vegetable ingredients as flavorings and other additives. Thus, it is anticipated that natural or organic tea extracts will become increasingly popular. Additionally, an article published in November 2018 by Anticancer Research claimed that consuming oolong tea extracts aids in preventing breast cancer. These extracts cause DNA cleavage in breast cancer cells, which harms them and slows their growth. According to research from the American Breast Cancer Organization released on February 4, 2021, about 13% of American women are at risk of developing breast cancer over their lifetime. Thus, it is anticipated that tea extracts will become more and more popular as a means of preventing these diseases in the years to come.

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Green Tea Segment to Dominate the Tea Extracts Market:
The green tea segment is expected to account for a larger revenue share in the global tea extracts market, with a value share worldwide. It is projected to grow at a 7.5% CAGR between 2022 and 2028. As a healthy substitute for coffee, green tea is already famous worldwide. Tea extracts are among the most popular drinks among customers because of their anti-inflammatory and antioxidant properties. The market opportunity is further boosted by increased consumption of upscale meals and the acceptance of functional foods. Innovative ways to use green tea extract in cosmetics have increased the market's potential for growth.

Asia Pacific Tea Extracts Market:
The Asia Pacific market is expected to increase in the global tea extracts market over the forecast period. It is projected to grow at a CAGR of 7.6% in the coming years. The region's essential players are integrated across the value chain. Over the next coming years, product growth is projected to be fueled by significant players in the Asia Pacific region and increasing disposable income, shifting consumer preferences toward ready-to-drink beverages, and growing disposable income. A significant portion of businesses is concentrating on adopting cutting-edge methods to create goods especially tailored for the end-use sectors, which is anticipated to propel the growth in product consumption during the foreseeable period.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global tea extracts market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,In December 2020, Layn Natural Ingredients acquired Chengdu Wagott Biotech, China's largest exporter of green tea extract. With the help of this expansion the company aims to expand its botanical extract Portfolio.

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Detailed Segmentation
The tea extracts market is segmented based on application, category, form, type and geography.
Based on the application, the market is segmented into the following:
• Food
• Beverages
• Pharmaceuticals
• Cosmetics

Based on the category, the market is segmented into the following:
• Organic
• Conventional

Based on the form, the market is segmented into the following:
• Liquid
• Powder

Based on the type, the market is segmented into the following:
• Green Tea
• Black Tea
• Oolong Tea
• Lemon Tea
• Others

Key players' profiles in the tea extracts market report are Finlay Tea Solutions UK Ltd., Akbar Brothers (Pvt) Ltd., Martin Bauer GmbH & Co KG, Tata Global Beverages Limited, Amax NutraSource Inc., Cymbio Pharma Pvt Ltd., Kemin Industries, Inc., AVT Natural Products Ltd., The Republic of Tea, Inc., and Nestle S.A.

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This release was published on openPR.