Global black tea extract market projected to grow to USD 218.8 million by 2033

From GlobeNewswire: 2024-08-04 05:00:00

The Global Black Tea Extract Market is projected to grow from USD 138.7 million in 2023 to USD 218.8 million by 2033, with a CAGR of 4.66%. Black tea extract is rich in essential elements, driving market growth with increased public awareness of its health benefits, such as immune system support and cardiovascular health.

The market is witnessing a rising demand for natural and organic components, leading to the production of organic black tea extracts. The hot water-soluble category is expected to dominate the market, offering antioxidant properties and nutrient retention. Powder form is anticipated to lead the market segment due to ease of use and storage advantages.

In terms of application, the cosmetics industry is set to expand its market share, driven by the addition of organic ingredients and consumer awareness of synthetic materials. Asia-Pacific is expected to hold the largest market share of black tea extract, with North America predicted to grow rapidly, particularly in cosmetics and ready-to-drink beverages.

Key players in the market include Amax NutraSource, Inc, Kemin Industries, AVT Natural Products Ltd., and more. Recent developments include Clipper Tea’s aim to offer trendy flavors and experiences. Market segmentation includes product type, form, application, and region with revenue forecasted until 2033. Major regions covered are North America, Europe, Asia Pacific, South America, and Middle East & Africa.



Read more at GlobeNewswire: Global Black Tea Extract Market Size To Worth USD 218.8