DUBLIN, October 25, 2024 (Globe Newswire) — “Tea Extracts Market Size and Forecast, Global and Regional Shares, Trends, and Growth Opportunities Analysis Report Covers: Types, Categories, Format, Applications, and Geography report has been added to ResearchAndMarkets.com’s offering.
The tea extract market size is expected to reach USD 3.58 billion in 2023 and USD 5.88 billion by 2031. It is estimated to register a CAGR of 6.4% from 2023 to 2031.
The tea extract market is witnessing significant growth due to increasing consumer demand for natural ingredients with a focus on health. These extracts are rich in bioactive compounds such as catechins, polyphenols, and flavonoids and are increasingly used in beverages, nutritional supplements, functional foods, and personal care products. This market is characterized by a shift towards organic and sustainably sourced tea extracts.
According to the personal care association Cosmetics Europe, the European personal care and cosmetics market was valued at approximately USD 94 billion in 2022. The personal care and cosmetics industry adds up to US$30 billion to the European economy. Similarly, spending on skin care and makeup products is increasing in the Asia-Pacific region, which plays a major role in boosting the business of the cosmetics and personal care industry across the globe.
The beauty and personal care sector is growing significantly in Asian countries such as India, China, Japan, and South Korea. According to World Bank data, consumer spending in India grew from USD 1.9 trillion in 2018 to USD 2.4 trillion in 2022. According to statistics from the Korea Customs Service, skin care cosmetics were the largest imported item, accounting for 41.8% or US$711. In 2022, the total value of cosmetics imports will reach $1 million.
Based on application, the tea extract market is segmented into food and beverages, nutritional supplements, personal care and cosmetics, etc. The food and beverage segment held the largest market share in 2023. The food and beverage applications segment of the tea extract market is a key driver of global demand. Consumers around the world are seeking products with natural ingredients and additional functional properties that support a healthy lifestyle.
Some of the major companies operating in the tea extract market are Finlays, Botanic Healthcare Pvt Ltd, Firmenich International SA, Givaudan SA, International Flavors & Fragrances Inc, Kerry Group plc, Archer Daniels Midland Company, Sensient Technologies Corp, Kemin Industries Inc, Medikonda Nutrients (Virginia) included. Dare Extract Co Inc, Lipoid-Kosmetik, Florida Food Products, Dohler GmbH and others. Players operating in the Tea Extract market are focused on offering innovative and healthy products at affordable prices to meet customer demand.
Reasons to buy:
Progressive industry trends in the Tea Extracts market that help players formulate effective long-term strategies Business growth strategies adopted by developed countries and developing markets Quantitative analysis of the Tea Extracts market from 2021 to 2031 Various Estimating the demand for Tea Extract across industries Porter’s Five Forces Analysis Efficacy of buyers and suppliers operating in the industry to predict the market growth To understand the competitive market scenario and the demand for Tea Extract across the globe Recent developments Market trends and outlook combined with factors driving and restraining the growth of the Tea Extracts market. Detailed overview and segmentation of the Tea Extract market and the industry Dynamics Promising Tea Extract Market Size Growth Opportunities in Different Regions
key attributes
Report attribute details No. Number of pages 213 Forecast period 2023 to 2031 Estimated market value in 2023 (USD) $3.58 billion Estimated market value to 2031 (USD) $5.88 billion Average annual growth rate 6.4% Target region world
Covers key topics
1. Introduction
2. Executive summary
3. Research method
4. Tea extract market landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.3 Ecosystem analysis
5. Tea Extract Market – Key Market Trends
5.1 Tea Extract Market – Key Market Trends
5.2 Market Drivers
5.2.1 Growing demand for natural ingredients in food and beverages
5.2.2 Wide application range of tea extract
5.3 Market constraints
5.3.1 Supply chain disruption
5.4 Market opportunities
5.4.1 Growth of the cosmetics and personal care industry
5.5 Future trends
5.5.1 Growing trends in organic and clean label products
5.6 Effects of drivers and restraints
6. Tea Extract Market – Global Market Analysis
6.1 Tea Extract Market Revenue (USD Million), 2021-2031
6.2 Tea Extract Market Forecast Analysis
7. Tea Extract Market Analysis – By Type
7.1 Green tea
7.2 Tea
7.3 Oolong tea
7.4 Others
8.Tea Extract Market Analysis – By Category
8.1 Conventional
8.2 Organic
9.Tea Extract Market Analysis – By Form
9.1 Powder
9.2 Liquid
10.Tea Extract Market Analysis – By Application
10.1 Food and Drinks
10.2 Dietary supplements
10.3 Personal care and cosmetics
10.4 Others
11. Tea Extract Market – Geographical Analysis
11.1 Overview
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Middle East and Africa
11.6 Latin America
12. Competitive environment
12.1 Heatmap analysis
12.2 Corporate positioning and concentration
13. Tea Extract Market – Industry Landscape
13.1 Overview
13.2 Organic growth strategy
13.3 Inorganic growth strategy
14. Company profile
14.1 Finlay
14.2 Botanic Healthcare Group
14.3 Martin Bauer GmbH & Co KG
14.4 Firmenich International SA
14.5 Givaudan SA
14.6 International Flavors & Fragrances, Inc.
14.7 Kelly Group plc
14.8 Archer Daniels Midland Company
14.9 Sensient Technologies, Inc.
14.10 Kemin Industries Co., Ltd.
14.11 Mediconda Nutrients
14.12 Virginia Dare Extract Co.
14.13 Lipoid cosmetics
14.14 Florida Foods
14.15 Dorer Company
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