Tea extracts market to reach $5.88 billion by 2031, driven by natural and organic trends.
From GlobeNewswire: 2024-10-23 09:35:00
The Tea Extracts Market Size and Forecast shows a value of US$ 3.58 billion in 2023, projected to reach US$ 5.88 billion by 2031. Asia Pacific led the market in 2023, driven by rising disposable incomes and awareness of antioxidant properties. Manufacturers are innovating new products to cater to premium and health-conscious consumers.
The trend towards natural and organic products is increasing, with consumers preferring food and beverages free of synthetic ingredients. Herbal and natural products are gaining popularity for their perceived health benefits. Manufacturers are launching tea extracts for use as antimicrobials, antioxidants, and shelf-life extenders in food and beverages to prevent diseases.
The cosmetics and personal care industry is growing, with natural ingredients like tea extracts being utilized for their antioxidant-rich and anti-inflammatory properties. Tea-based products help fight free radicals, resulting in healthier skin. Consumers are increasingly looking for products with natural ingredients that offer multiple benefits for skin health and appearance.
Green tea extracts dominate the market, driven by their health benefits and rising popularity as a key ingredient in dietary supplements, functional foods, and cosmetics. The demand for green tea extracts is high due to their versatility and association with improved metabolism and reduced risk of chronic diseases. Food & beverages lead in applications, driven by consumer demand for natural, functional ingredients that support a healthy lifestyle.
Leading players in the tea extracts market include Botanic Healthcare Pvt Ltd, Finlays, Martin Bauer GmbH & Co KG, and others. The market is competitive, with players focusing on providing high-quality products and adopting strategies like new product launches and collaborations to stay ahead. The market is projected to continue growing as consumer demand for natural and functional ingredients in food, beverages, and personal care products rises.
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