New York, March 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tea Extracts Global Market Report 2023" - https://www.reportlinker.com/p06311733/?utm_source=GNW
, Halssen & Lyon GmbH, Harrisons Tea, Synergy Flavors, FInlay Tea Solutions Ltd., Tata Global Beverages, Givaudan, Dehe Bio-tech CO. Ltd., Hainan Qunli, Sichuan Yujia Tea, ADM WILD Europe GmbH & Co.KG, Allen Flavors Inc., Amelia Bay, Damin Food (Zhangzhou) Co. Ltd., Dohler, Goodricke Group Limited, Quala, Robertet Group, ShanShan Tea, and Shenzhen Shenbao Huacheng Tech.Co. Ltd.
The global tea extracts market grew from $3.87 billion in 2022 to $4.21 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The tea extracts market is expected to grow to $5.48 billion in 2027 at a CAGR of 6.8%.
The tea extract market consists of sales of epicatechins, epicatechin gallate, and flavanols.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The tea extract is used to promote weight loss, blood sugar regulation, and disease prevention.Tea extracts refer to supplements that are derived from the tea plant.
It contains concentrated compounds of antioxidants, polyphenols, vitamins, and flavonoids. Tea extracts have been linked to a variety of health benefits, including supporting heart, liver, and brain function, as well as enhancing skin appearance and lowering cancer risk.
North America was the largest region in the tea extracts market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the tea extracts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of tea extracts are black tea, oolong tea, green tea, and other types.Black tea extracts refer to extracts made from black tea.
Black tea uses the Camellia Sinensis bush to make black tea.Caffeine and other stimulants and antioxidants are present in black tea.
The different types of nature include organic and conventional, which have various forms such as powder and liquid. The numerous applications include food and beverages, pharmaceuticals, cosmetics, and others, and are distributed through several channels, including online and offline.
The rise in demand for dietary supplements is expected to propel the growth of the tea extract market going forward.Dietary supplements are a vast range of ingestible goods that are distinguishable from regular foods and pharmaceuticals, which are utilized all over the world.
Tea extracts, especially green tea extracts, are commonly utilized in the manufacturing of dietary supplements.Tea extract dietary supplements aid in blood sugar regulation, blood pressure regulation, weight management, disease prevention, and workout recovery.
For instance, according to the National Library of Medicine, in the six weeks leading up to April 5th, 2020, during the first wave of the pandemic, sales of dietary supplements increased by 43% ($435 million) in the United States, compared to the same period in 2019.Also, in October 2021, according to a Consumer Survey on Dietary Supplements, conducted by The Council for Responsible Nutrition (CRN), a US-based trade association for the dietary supplement and functional food industry, 80% of Americans were using dietary supplements, which increased from 73% in 2020.
Therefore, an increasing demand for dietary supplements is driving the growth of the tea extract market.
New product innovations have emerged as the key trend gaining popularity in the tea extracts market.Major companies operating in the tea extract market are focused on new product innovations to meet consumer demand and strengthen their position.
For instance, in February 2021, Finlays, a Kenya-based company that works on tea extraction facilities, launched their new premium natural tea extracts range called the Wellbeing Collection based on brush-to-bottle technology.This new range of premium, natural, and sustainably-sourced tea extracts is designed to help brand owners tap into consumer demand for healthy, natural, and sustainable products.
This prevents the degradation of valuable oxygen-sensitive ingredients such as antioxidants.
In August 2020, Florida Food Products, a US-based clean-label food and beverage ingredient company, acquired Amelia Bay LLC for an undisclosed amount.Through this acquisition, FFP’s position in the clean label ingredients industry is strengthened by the addition of a beverage platform to its comprehensive array of natural goods in the meat, savory, health, and wellness markets.
Amelia Bay LLC is a US-based manufacturer of brewed liquid tea extracts.
The countries covered in the tea extracts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The tea extracts market research report is one of a series of new reports that provides tea extracts market statistics, including tea extracts industry global market size, regional shares, competitors with a tea extracts market share, detailed tea extracts market segments, market trends and opportunities, and any further data you may need to thrive in the tea extracts industry. This tea extracts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06311733/?utm_source=GNW
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