For many tea enthusiasts, a single day without tea feels incomplete. It’s a widely accepted and enjoyed refreshment drink across the globe. Tea is available in different flavors and varieties, including black, green, white, oolong, herbal, and more. In addition to traditional brewed tea, tea extracts have also gained popularity. This blog unveils findings about tea extracts and their market expansion statistics.
Tea extracts are a concentrated form of green or black tea that is derived from the leaves of the Camellia sinensis plant or other herbal ingredients. Antioxidants called polyphenols and flavonoids are found in it. Antioxidants help in protecting cells against damage from particular substances that may increase the risk of cancer and other disorders.
The global tea extracts market was valued at USD 3,083.86 million in 2022 and is projected to reach USD 6,094.81 million at a CAGR of 7.1% during the forecast period.
Tea extract relaxes the nervous system and mind and reduces blood sugar and cholesterol levels, which helps in maintaining human cardiovascular health, lowering the risk of cancer and Alzheimer's.
A growing preference among customers and the food business for vegetable ingredients such as flavoring or flavoring compounds understanding of health and organic products propels the market growth.
Rising adoption of tea extracts in various industries, including cosmetics, food and beverage, and medicines, is likely to boost tea extracts market demand.
Further, a surge in demand for functional foods is likely to accelerate market growth throughout the projection period.
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By Type: Green tea held the largest revenue share in 2022 because it is becoming increasingly popular as a result of demand for organic weight loss solutions and growing public health awareness.
By Application: The food segment dominated the market in 2022 owing to the increased consumption of beverages globally. A rise in the demand for tea extract is one of the primary drivers of the tea extract industry.
The negative socioeconomic effects of tea cultivation are becoming more well-known in the West. To address these issues, various standards systems are being established. Codes of conduct mandate that suppliers stick to standards for food safety, workplace conditions, and environmentally friendly production methods. Suppliers’ focus on delivering low-quality bulk tea and on the niche market containing high-quality and premium-priced goods increases the product's value. In the northern and western EU countries, the certified niche items are well-known.
The tea extract market is experiencing remarkable growth, driven by rising consumer demand for convenient, healthy, and natural products. As the popularity of tea extracts continues to rise, it is essential for market participants to stay up-to-date on evolving consumer preferences and capitalize on the market's potential for growth and innovation.
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