Tea Extract Market is expected to reach US$ 4,500.7 Mn by 2027 with a CAGR of 6.8% from 2019 to 2027

According to The Insight Partners study on the "Tea Extracts 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.

Tea is considered as the most popular and commonly served beverage in the globe. Tea extracts are defined as the concentrated form of tea and is 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.

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The market for global tea extracts market is concentrated with some very well-established players. Some of the key players in the global tea extract market are ADM WILD Europe GmbH & Co.KG, Allen Flavors, Inc., Amelia Bay, Damin Food (Zhangzhou) Co., Ltd., Dohler, Finlays, Fujian Xian Yang Biotechnology Co., Ltd., Goodricke Group Limited, Martin Bauer Group, Quala, Robertet Group, ShanShan Tea, Shenzhen Shenbao Huacheng Tech.Co., Ltd., Synergy Flavors, Tata Global Beverages, Unilever and Zhejiang MingHuang food shares development co., LTD, among others.

Tea extracts are defined as the concentrated form of tea and are extracted from black tea, green tea, and oolong tea, among others. Tea is considered the most popular and commonly served beverage in the globe. Tea extracts such as green tea are high in antioxidants and promote heart health. Tea extracts are used in various industries such as food and beverages, cosmetics, and pharmaceuticals to enhance the nutritional value of the products. The tea extracts are available in organic and conventional forms. The market size for organic tea extract has surged over the past few years due to the increasing demand for certified organic products by consumers.

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Growing demand for tea extracts from food, beverages and pharmaceutical industries is impacting the growth of tea extracts market

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 the food items, these extracts are also known to impart certain health benefits to the products. 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 its usage in food and beverage industry, 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 extracts are also used to promote the growth of the plant and to produce several cosmetic products meant for skin and hair which includes cream, cleansers, toners, serums and others. Hence, the demand for tea extracts has increased in several industries with an increased focus towards research and development activities among manufacturers which is further expected to lead to the growth of tea extracts market.

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