New York, United States , Aug. 04, 2024 (GLOBE NEWSWIRE) -- The Global Black Tea Extract Market Size is to Grow from USD 138.7 Million in 2023 to USD 218.8 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 4.66% during the projected period.
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Black tea is the most often consumed type of tea globally. Black tea extract is rich in the following elements: calcium, fluoride, zinc, iron, magnesium, copper, manganese, potassium, and zinc. Growing public knowledge of the health benefits of tea drinking, such as better immune system function, cardiovascular health, and possible cancer prevention, is driving the market for black tea extract. The food sector is one of the many diverse industries that makes extensive use of the extract. One of the main market trends is the increasing demand for natural and organic components; in response, organic black tea extracts have been produced to appeal to consumers who are health-conscious. However, high production costs could hinder the market from expanding.
Browse key industry insights spread across 217 pages with 116 Market data tables and figures & charts from the report on the "Global Black Tea Extract Market Size, Share, and COVID-19 Impact Analysis, By Product (Hot Water- Soluble, and Cold Water-Soluble), By Form (Powder, Liquid, and Encapsulated), By Application (Food & Beverages, Cosmetics, and Pharmaceuticals), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The hot water-soluble category is expected to have the largest share of the market.
Based on product, the global black tea extract market is divided into hot water-soluble, and cold water-soluble. Among these, the hot water-soluble category is expected to have the largest share of the market. For products that dissolve in hot water, low quantities are usually used, such as 0.35 to 0.45g in 100 ml of water. Unlike cold water-soluble drinks, the antioxidant concentration of hot water- soluble products varies with extraction temperature, meaning that different types of antioxidants are present. The product is frequently sold in powdered form in a range of Flavors for use in making beverages. Demand for the powdered form has increased due to its improved properties, such as its ease of use and storage. Products that dissolve in hot water retain more nutrients and bioactive ingredients, making them superior to other beverages.
Powder form is anticipated to be the market segment with the greatest dominance.
Based on form, the global black tea extract market is divided into powder, liquid, and encapsulated. Among these, powder form is anticipated to be the market segment with the greatest dominance. The powder form is used in the cosmetics industry, and it is anticipated to develop at the highest rate due to the rising demand for organic and personal care goods. The product is primarily found in powdered form in nutrient-dense ready-to-drink alternatives since consumers are opting to utilize them more frequently. Because powdered extracts dissolve readily and offer different antioxidant properties at different temperatures, they can be used in hot or cold water-soluble products for medicinal purposes. Furthermore, factors like simple stockings and international transportation are expected to account for substantial growth.
It is anticipated that the cosmetics business will expand its market share.
Based on the application, the global black tea extract market is divided into food & beverages, cosmetics, and pharmaceuticals. Among these, it is anticipated that the cosmetics business will expand its market share. The cosmetics industry is predicted to increase at the fastest rate over the projected period of time due to the addition of organic components and rising public awareness of the harmful effects of synthetic materials. Over the course of the forecast period, it is anticipated that the product's application in perfumes would have the largest market share relative to other personal care products. The extracts have several benefits, including being astringent, humectant, antifungal, and skin conditioner. Growth is expected to be propelled by the cosmetics industry's demand for the product. Throughout the projection period, black tea extract sales are also anticipated to increase more quickly as a result of customers' increased awareness of environmental issues while making purchases.
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Asia-Pacific is expected to hold the largest share of the black tea extract market over the forecast period.
Asia-Pacific is expected to hold the largest share of the black tea extract market over the forecast period. The black tea extract market is expected to be dominated by Asia Pacific due to the region's increasing trend of production and consumption. Rising disposable income, the presence of major corporations in the Asia Pacific area, and changing consumer tastes toward ready-to-drink beverages are all anticipated to contribute to the product's expansion. Over the course of the projected period, it is expected that these innovative manufacturing techniques will be the driving force behind the rise in product consumption, as many businesses are focusing on generating items that are precisely designed for end-use industries.
North America is predicted to grow at the fastest pace in the black tea extract market during the projected timeframe. North America is anticipated to be the biggest importer of the product when it comes to employing it for ready-to-drink beverages, cosmetic applications, and other beauty supplement industries. There was a noticeable spike in demand for ready-to-drink beverages in the area due to their superior nutritional value compared to other herbal drinks.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the black tea extract market include Amax NutraSource, Inc, Kemin Industries, AVT Natural Products Ltd., Cymbio Pharma Pvt. Ltd., Phyto Life Sciences Pvt. Ltd., Blueberry Agro Products Pvt. Ltd., Synthite Industries Limited, Finlays, Martin Bauer Group, Kemin Industries, Cymbio Pharma Pvt. Ltd., Teawolf, Teawell, Teavigo, Teanin, and Others.
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Recent Developments
- In June 2022, the goal of British-based Certified B-Corp tea company Clipper Tea is to make tea better for the next generation of tea drinkers by offering them trendy flavors and sought-after experiences.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global black tea extract market based on the below-mentioned segments:
Global Black Tea Extract Market, By Product
- Hot Water- Soluble
- Cold Water-Soluble
Global Black Tea Extract Market, By Form
- Powder
- Liquid
- Encapsulated
Global Black Tea Extract Market, By Application
- Food & Beverages
- Cosmetics
- Pharmaceuticals
Global Black Tea Extract Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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