Black Tea Extracts Market 2023 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the black tea extract market was USD 132.5 million in 2022, and it is anticipated to grow at a CAGR of 4.8% during the forecast period. The rise in awareness regarding synthetic flavors is driving the growth of the market significantly. Black tea extracts are derived from the powdered leaves of black tea. The increasing popularity of ready-to-drink beverages as a substitute for soda and other fruit drinks is driving the growth of the market. Changing consumer preferences towards nutritious food supplements over synthetic ingredients are likely to drive market growth in the upcoming years. The increasing popularity of green tea in China, Japan, and South Korea is driving the growth of the market significantly.

Impact of Covid-19

COVID-19 brought a slowdown in the black tea extract market along with every other market. COVID-19, due to the economic uncertainties, observed a change in consumer behavior where everyone was bothered about essential things for survival only. Initially, due to disruption in the supply chain, COVID-19 acted as a hindrance to growth, but later on, when people had to stay at home and had to follow the stringent lockdowns and social distancing, they started to consume more of the product, which brought a positive shift in the market.

Growth Drivers

The increasing demand for herbal dietary supplements is driving the growth of the market, and increasing consumption of healthy beverages all across the globe is working in the favor of the market. There is an increasing demand for nutritional enrichment and calorie-reduction products. Increasing demand comes from the age group of people between 18 and 34. There is a growing demand for black tea extract-based beverages in restaurants all over the world. Black tea extracts are used for the purpose of oxidation, to achieve a rich flavor. Increasing use of black tea for improving mental alertness, to get relief from headaches, for anxiety patients, to prevent Parkinson diseases, and in cases of dementia, stroke, and high and low blood pressure

Green tea had already gained traction across the globe as a healthy alternative to caffeinated drinks. Its antioxidant properties, associated with anti-inflammatory characteristics, have made tea extracts one of the most preferred beverages for consumers. An increase in consumption of premium foods and the increasing popularity of functional foods also boost the opportunity for the market. Innovative applications of tea extract in cosmetics and the food industry are also growing the market significantly.

Segmentation

Application

·         Food

·         Beverages

·         Pharmaceuticals

·         Others

Type

·         Organic

·         Conventional

Form

·         Liquid

·         Powder

Regional Outlook

·         North America

·         Asia-Pacific

·         Europe

·         Latin America

·         Middle East and Africa

Black Tea Extract Market Application Segmentation

On the basis of application, the black tea extract market is segmented into the food, pharmaceutical, cosmetics, and beverage industries. The food segment is expected to register the highest growth during the forecast period. In the food industry, some of the key players are trying their best to bring tea flavor to the food, such as bakery products, confectionary products, frozen desserts, and dairy products. The familiarity of this flavor among consumers is driving the growth of the market; therefore, the segment has been expected to grow at a comparatively higher rate during the forecast period. Black tea extract has gained popularity in the pharmaceutical market due to its potential health benefits. It contains antioxidants, like polyphenols, which are being studied for their possible use in medications or supplements targeting various health conditions such as inflammation, heart health, and even cancer prevention.

There is an increasing use of black tea extracts in products like serums, creams, and masks due to their potential to improve skin issues. It provides safety against UV damage, and it improves overall skin health. The polyphenols present in the black tea extract are known for their ability to fight against free radicals and support skin rejuvenation.

Black Tea Extract Market Type Segmentation

On the basis of type, the black tea extract is segmented into Organic, and conventional. Organic black tea extract is derived from organically grown tea-leaves, free from synthetic pesticides, and fertilizers. Organic Black tea extract is expected to dominate the black tea extract market significantly during the forecast period.

 Regional Outlook

On the basis of the regions, the market is segmented into 5 parts: Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. North America holds the largest market share in the black tea extract market. North America is expected to be the largest importer of black tea extract because of its use in cosmetic applications and ready-to-drink beverages. High demand for ready-to-drink beverages in the region is growing the market in the region. Due to high caffeine consumption and its related products, the market is growing in the region. Owing to its large production and consumption trends in the region, Europe holds a significant position in the black tea extract market and is expected to remain the same during the forecast period.

The presence of key players in the European region, along with increased disposable income and ready-to-drink beverage consumption, are the factors behind the growth of the market. Many companies are focusing on innovative techniques to manufacture products and customize them exclusively for the end-use industry, which is likely to drive growth during the forecast period. Asia Pacific region is expected to grow with lucrative growth opportunities, for black tea extract markets, and is expected to maintain its position during the forecast period. Rising population in countries like China, and India along with South Korea is the main market for the consumption of black tea extracts. Rise in health awareness with an increase in per capita disposable income is also anticipated to fuel the growth of the market during the forecast period.

Key Players

·         Archer Daniels Midland

·         Dupont

·         Kemin Industries

·         Givaudan

·         Synergy

·         Frutarom

·         A Holliday and Co.

·         Martin Bauer Group

·         Indena Spy

·         Futureceuticals

·         Phyto Life Sciences Pvt. Ltd.

·         Taiyo International

·         Harrison Tea

·         Halssen and Lyyon GMBH

·         Nutrasource INC.

·         Other Players

Global Black Tea Extracts Market research report presents a strategic analysis of the global Black Tea Extracts Market and a forecast for its development in the medium term, taking into account the impact of COVID-19 on it.

This report delivers market size, regional and country market data, segmentation growth, market share, competitive landscape, company’s Black Tea Extracts revenue analysis, strategies of domestic and global market players, opportunities analysis, strategic market growth analysis, and technological innovations. It analyses historical and current market data to accurately gauge its future growth potential. This market report provides in-depth analysis and insight of market drivers, challenges, trends & opportunities. At the same time, comprehensive coverage of major vendors (recent product development & industrial activities, company overview, insights on business strategy & financial performance, company SWOT analysis) is provided to give competitive overview. This study presents most detailed (COVID-19 updated) and in-depth analysis about the global Black Tea Extracts market, covering all global regions and countries. The report provides intricate dynamics for each of the countries covered, offering unmatched value, accuracy and expert insights.

Report Purpose

The purpose of the report is to portray the state of the global Black Tea Extracts Market and to present real and expert-verified data and insights about the market values, volumes, dynamics, segmentation and prices. It also offers forecast for the market development in the short and medium term and the impact COVID-19 has and will have on it. Further, it covers in-depth analysis of the key market players, industry trends and insights, growth drivers and challenges and all other factors, influencing the growth of market.

Scope of the Report

The report on the global Black Tea Extracts Market presents:

·         Historical Data: Market data including volume, growth rate, value, and dynamics; Market segmentation (by product, by region and by country; etc.) for the last five years;

·         Strategic Insights for companies looking to launch new products to diversify their business, exploring leading countries to establish supply chain, and top countries to increase company export and go global

·         Comprehensive Regional Market Data: volume, growth rate, value, market share and dynamics of for the last five years (broken down by region);

·         Market Dynamics: Analysis of the factors impacting the market including demand drivers, industry trends and challenges and the short and the medium-term impact of COVID-19 presently and in near future;

·         Analysis and forecast for the global economy and demographics;

·         Supply chain and value chain analysis, risk analysis of supply side and demand side;

·         Market Forecast for next ten years (market share, year-on-year growth, volume, value and segmentation by region);

·         Company profiling of key market players covering company’s Black Tea Extracts revenue, sales and market share;

·         Comprehensive coverage of competitive landscape offering market positioning and snapshot of key business strategies;

·         Porter’s Five Forces analysis;

How Can You Benefit from This Report?

In this report you can:

·         Track and identify key market trends and insights and key drivers behind recent market changes and see the impact COVID-19 has and will have on the market in both the short and the medium term;

·         Get access to reliable and verified market data, with which aids you to make confident business decisions;

·         Analysis of market numbers, such as volume, value, forecasts, dynamics, segmentation and market structure – past, present and future;

·         Gain competitive intelligence about the market at low cost as compared to other reports;

·         Understand growth potential countries and regions, opportunities, growth drivers and barriers on the market;

·         Own data spreadsheet for comparison at global, regional and for individual country, covered in the report;

·         Analyse countries with highest and lowest demand for Black Tea Extracts and countries in each region which will grow at highest growth in next five years.

·         Strategically plan business strategy based on verified market data and expert insights;

·         Identify revenue generation opportunities in the countries and regions within the market;

·         Get market trend data of last 10 years and how market growth will unfold in next ten years;

·         Market share analysis and positioning of leading market players;

·         Get an assessment of competitive intensity, fragmentation and environment and understand competitive threats;

·         Get hands on data your competitors might already have and be acting upon;

·         Assess your position on the market, choose a new product line market to enter or get to know a completely new market;

·         Save money, time and resources by not purchasing/collecting data and compiling them by yourself;

·         Extensive analysis of all required market data in one place;

·         Empower your marketing, branding, strategy, product and business development, consumption and supply functions with valuable market insights;

·         Assess market attractiveness and BPS analysis for region and country and strategies business activities;

·         Develop your own market entry or market expansion strategy or validate your current strategy;

·         Get easy to read, perceive and understand report.

What Kind of Decisions You Can Make Based on the Data in This Report?

This report detailed and all-inclusive data on Black Tea Extracts Market, providing valuable support to make vital decisions regarding:

·         Strategic planning;

·         Industry analysis;

·         Target Market/Marketing and sales;

·         Regional and country assessment and opportunity analysis;

·         Market entry into new product group or country;

·         Pricing of existing and new products;

·         New product development and Innovation in existing products;

·         Supply chain management;

·         Market evaluation;

·         Mergers, Expansions, Joint Ventures and acquisitions.

Who Is This Report for?

This report is intended to give broad overview of market to people who already are working on this market:

·         C-suite Level executives;

·         Directors;

·         Industry strategists;

·         Marketing professionals;

·         Business development professionals;

·         Product developers;

·         Product marketers and strategists;

·         Product managers;

·         Project managers;

·         Suppliers;

·         Traders;

This report also caters to people who are not involved in the market, representatives of investors, consultants, advisors and financial institutions:

·         Management consultants;

·         Investment managers;

·         Financial professionals;

·         M&A managers.

Regional Coverage

The report on the global Black Tea Extracts Market breaks down the world into the following regions & countries and covers every single one of them:

Report Customization

If the report as is does not serve your market research needs, get it customized at free of cost, as per your own specific requirements. Feel free to contact us for more information!