Tea Extract Market Size Worth USD 4,500.7 Million, Globally, By 2027 at 6.8% CAGR | The Insight Partners

The global tea extract market is accounted to USD 2,520.0 Mn in 2018 and is expected to grow at a CAGR of 6.8% during the forecast period 2019 to 2027, to account to US$ 4,500.7 Mn by 2027. The report includes key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

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The List of Companies - Tea Extract Market
ADM WILD Europe GmbH & Co.KG
Allen Flavors Inc.
Amelia Bay
Damin Food (Zhangzhou) Co
Dohler
Finlays
Goodricke Group Limited
Martin Bauer Group
Robertet Group
Shanshan Tea

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.

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.

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 the food items, these extracts are also known to impart certain health benefits to the products.

For instance, the green tea extract adds brightness, hardness, stickiness, astringency, and sweetness in the formation of bread.

Further, 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.

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This release was published on openPR.