Tea Extracts Market: Market Outlook
The tea is the second most favorite drink across the globe after coffee. This popular drink is made from the leaves of the camellia Sinensis plant. The tea or tea extracts are available in different forms based on the maturity of the tea leaves. For instance, new leaves are used to manufacture white tea extracts and fully mature tea leaves are used to manufacture black tea extracts.
On a global scale, the application of tea extracts in various industries is increasing. The tea leaves and tea extracts contain bioactive compounds such as caffeine and polyphenol. The presence of antioxidants provides various health benefits to the human body. The tea extracts have recorded the various cardiovascular benefits such as it lowers blood sugar and cholesterol. The consumption of tea extracts also shows the effects on the mind and nervous system. The necessary intake of tea extracts also helps to prevent cancer, it improves the metabolism of the human body and reduces body fat.
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Tea Extracts Market: Market Dynamics
The applications of tea extracts in industries like cosmetics & personal care and nutraceuticals are also increasing. North America and Europe have the largest share in the global cosmetics industry and also their cosmetics and personal care industry have the highest demand for tea extracts. The increasing presence of tea extracts in the functional food and various nutraceutical supplements is expected to boost the demand for tea extracts across the globe. Also, the growing cosmetics industry and its rapid expansion across the globe is anticipated to propel the market growth of tea extracts market over the forecasted period.
Tea extracts also help in the prevention of various diseases such as Alzheimer's and cancer. Besides, tea extracts have an increasing demand for skin care cosmetics products. The most common skin patches such as dark circles and blackheads can be removed by using the tea extracts. The tea extracts are gaining its popularity in the cosmetics industry as it provides the glow to the face.
Global Tea Extracts Market: Market Participants
The market participants in the global tea extracts market identified across the value chain include Archer Daniels Midland Company, Givaudan, Frutarom, Synergy Flavors, Finlays, Martin Bauer Group, Futureceuticals, Cymbio Pharma Pvt. Ltd., Phyto Life Sciences Pvt Ltd., AVT Tea Sources Ltd., Harrisons Tea, Dupont, Synthite Industries Ltd., Kemin Industries, A.Holliday & Co., Finlays, Indena SPA, Amax Nutrasource Inc, Teawolf, Taiyo International, Halssen & Lyon GMBH, among the other manufacturers of tea extracts across the globe.
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Opportunities for the Market Participants in the Global Tea Extracts Market
The demand for ready to drinks beverages is increasing across the globe owing to the changing lifestyle of the consumers and hectic work schedules. The tea is a stress buster for most of the consumers, which allows them a quick refreshment form their tight work schedules and busy lifestyle. The consumers prefer the ready to drink tea as it saves time and allows them to enjoy it anywhere and anytime. Thus manufacturers of tea extracts have lucrative opportunities as the demand for ready to drink tea and other beverages are increasing across the globe.
The established market like North America has an increasing demand for tea extracts owning to the awareness among the consumer about the ill effect of carbonated drinks on human health. The South Asian countries are the leading tea producing as well as tea consuming countries in the world. Green tea and black tea are gaining popularity among the consumers in these regions as the inclination towards healthier products and a healthy lifestyle is increasing. Also, the medicinal importance of the consumption of tea is expected to grow the market in this region.
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Impact of COVID-19 on the Global Tea Extracts Market
As the effects of COVID-19 are felt around the world, food & beverage companies are facing significantly reduced consumption and supply chain disruption challenges. The manufacturers are facing challenges in the procurement of raw material and supply chain. The international has been stopped for a few months during the pandemic, which affected the international movements of the tea extracts. The end-use industries of tea extracts have also faced the same problem with the supply chain and manufacturing practices. Thus the sales of tea extracts have reduced during the pandemic for a while. However the growth of tea extracts market expected to remain steady till the pandemic normalizes across the globe.
