Green tea is one of the most commonly consumed teas in the world. Green tea extract also is a great source of antioxidants. These have been credited with a range of health benefits and their uses are also very extensive. The global market size is expected to reach US $XXMn. by 2027 from US $XXMn. in 2019, at a CAGR of 6.9% during the forecast period. The objective of the green tea extract market report is to help the user understand the market in terms of its definition, segmentation, market potential, key trends, and the challenges that the market is facing with 5 key regions and 39 key countries. The report has profiled fifteen plus key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same.
Global Green Tea Extract Market
Global Green Tea Extract Market Dynamics:
Global green tea extract markets are viewing robust growth thanks to the ongoing drive towards investments and plans for market growth into emerging countries, like China and India. The year 2021 is expected to remain strong for the green tea extract market growth, mainly due to wide applications and strengthening buyer power. Key manufacturers in the food & beverage industry are continuously supporting consumer inclinations and recent food consuming trends to emerge as key players in local markets as well as global markets. Growth in imports and exports of green tea extract together with increasing support sectors are further boosting the market growth.
Tea is the manufactured drink most consumed in the world, because of significant consumption in the Asia Pacific region, mostly China, India, Vietnam, Indonesia, and Japan. Thanks to growing health awareness and increasing incidence of chronic diseases, green tea is the highest consumed among all types of tea. World green tea production is expected to grow at a faster rate than black tea reflecting the growth in China, where the production of green tea is expected to reach 2.99 million tonnes by 2023 as said by the Food and Agriculture Organization (FAO).
New growth opportunities will develop across the green tea extract market value chain with both suppliers and distributors focusing on adapting to shifting consumer inclinations. However, growing competition, demand for high-quality products at low costs act as challenges for the market growth. Also, the lack of awareness about the medicinal benefits of green tea extracts in emerging countries is a factor that is expected to control the growth of the market.
Global Green Tea Extract Market Segmentation:
The report covers the global green tea extract market is segmented by product, application. Among these product segments, epigallocatechin gallate is expected to hold the largest market share of the global market. This is mainly because of extensively used in the prevention of several neurodegenerative diseases such as Alzheimer’s and Parkinson’s disease and for the treatment of numerous lifestyle diseases such as cancer, diabetes, and obesity.
Global Green Tea Extract Market
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Global Green Tea Extract Market Regional Insights:
The report covers the five key regions like North America, Europe, Asia-Pacific, Middle East and Africa, and South America and their major countries. Among these the China, India, U.K, Japan, and South East Asia has dominated the green tea extract market as high green tea consumption in these regions have also forced usage of green tea extract.
Asia Pacific region is expected to hold the largest market share of the global market by 2027. This is mainly because of the growing aging population, increasing awareness about the medicinal aspects of green tea extract, and the introduction of new advanced flavored green tea extract products. Modern-day consumers are demanding for out-of-the-box flavor and ingredient which are indulging yet matching healthy-eating expectations, this fact is driving the market prospects for green tea extracts.
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