Green Tea Extract Market: Recent Industry Developments and Growth Strategies Adopted by Players
The report offers a detailed evaluation of the global EGCG market. It offers insights into market dynamics such as drivers, restraints, and opportunities. It also provides a holistic perspective of the market’s growth for various segments in terms of value as well as volume. An in-depth analysis of the competitive landscape forms an important part of the report.
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Overview of the Global Green Tea Extract Market
The shifting focus towards ethnic foods and natural ingredients is driving the global EGCG market. EGCG is widely used in the prevention of neurodegenerative diseases such as Parkinson’s and Alzheimer’s disease and in the treatment of lifestyle diseases such as diabetes and cancer. The rising incidence of these diseases is, therefore, fuelling the growth of the global market. Moreover, rising awareness amongst consumers regarding the benefits of EGCG is likely to increase the global demand for green tea extracts.
On the basis of applications, the market is segmented into RTD tea, functional foods, dietary supplements, energy drinks, cosmetics and anti-ageing creams, and others. The functional foods segment is expected to flourish owing to increasing application of EGCG as treatment of medical conditions such as chronic fatigue syndrome, endometriosis, neurodegeneration, cancer, and HIV. The rising awareness about the benefits of EGCG amongst consumers has increased the demand for these extracts in other applications such as nutricosmetics and bakery products.
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Geographically, the global EGCG market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Asia Pacific is expected to register significant growth owing to the rising geriatric population in Japan and increasing health consciousness among consumers. Moreover, the region is the leading producer and supplier of EGCG and other tea extracts to the U.S. and Europe market. China is expected to emerge as the most lucrative green tea extract market by revenue in the APAC region. In North America, the U.S. will be the leading contributor in terms of revenue.
The global EGCG market is characterized by high competitive rivalry. The market is highly price sensitive owing to overproduction of raw materials and increasing consumer demand for high purity products at low prices. However, growing academic research to discover new areas of application of green tea extracts and increasing focus towards product differentiation are likely to open up notable opportunities for EGCG manufacturers.
Companies Mentioned in the Global Green Tea Extract Market
Some of the key companies in the global EGCG market are Tate & Lyle, DSM, BASF, Danone, Changsha Sunfull Bio-tech Co. Ltd, and Blue California.
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