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2024 Global Matcha Market Size, Share, Trends And Growth Analysis Report
Matcha Global Market Report 2024
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According to The Business Research Company's, The matcha market size has grown rapidly in recent years. It will grow from $3.48 billion in 2023 to $3.84 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to increased awareness and popularity, increased consumer demand, increased availability of cheaper matcha alternatives, increased food processing use, and increased beverage sector application.
The matcha market size is expected to see rapid growth in the next few years. It will grow to $5.78 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to global industrialization, economic growth, increasing usage in personal care, increasing focus on health benefits and all-natural ingredients. Major trends in the forecast period include innovative market strategies, innovations in packaging materials, sustainable and eco-friendly practices, use of automation and advanced processing techniques, innovative solutions launch.
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Market Drivers and Trends:
The rising demand for food and beverages is expected to propel the growth of the matcha market going forward. Food and beverages are consumable substances that provide nourishment, sustenance, and pleasure to individuals. Matcha plays a significant role in food and beverages because of its distinct flavor, vibrant color, nutritional value, and cultural significance. Matcha's versatility allows it to be incorporated into various recipes, catering to multiple tastes and preferences while providing potential health benefits. For instance, in April 2022, according to a report shared by Common Thread Collective, a US-based e-commerce growth agency, global sales of food and beverages reached $435.3 billion in 2021 and $506 billion in 2022. Furthermore, the worldwide revenue for food and beverages is expected to reach $857 billion by 2025. Therefore, the rising demand for food and beverages is driving the growth of the matcha market.
Product innovations are a key trend gaining popularity in the matcha market. Major companies operating in the matcha market are focused on developing innovative products to strengthen their position in the market. For instance, in January 2022, Aiya Co Ltd, a Japan-based matcha-producing company, launched matcha infused tea line, a collection of organic ceremonial matcha-infused Japanese green teas grown in Kagoshima, Japan. Each box contains ten pyramid tea bags that protect the delicate leaves for a superior brew. Organic matcha-infused Gyokuro, organic matcha-infused sencha, and organic matcha-infused Genmaicha are three premium Japanese green teas in the collection that provide consumers with a unique and delightful tea taste experience.
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Major Key Players of the Market:
Nestle S.A., Unilever PLC, Starbucks Corporation, McCormick and Company Inc., ITO EN Ltd., The Hain Celestial Group Inc., Akira Matcha, The Republic of Tea, Clearspring Ltd., The AOI Tea Company LLC, Green Foods Corporation, Marukyu-Koyamaen Co. Ltd., Two Hills Tea, Tea Spot Inc., Foodchem International Corporation, Tenzo Tea Inc., Aiya Co. Ltd., My Matcha Life Products Inc., Encha Ceremonial Grade, Grace Matcha, Matchaful, Breakaway Matcha, Kettl, Matchaeologist, MatchaBar, MatchaKari.
Matcha Market 2024 Key Insights:
• The matcha market size is expected to see rapid growth in the next few years. It will grow to $5.78 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%.
• Matcha Market Growth Fueled By Soaring Demand In The Global Food And Beverage Industry
• Product Advancements Drive Momentum In The Matcha Market
• Asia-Pacific was the largest region in the matcha market in 2023
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