The tea extracts are the concentrated form of tea and are widely extracted from green tea, black tea, oolong tea, and others. It is the most popular and commonly served beverage all across the world. Extracts like green tea are extremely high in minerals & antioxidants and also promote good heart health. These are used in several industries, including pharmaceutical, cosmetics, food & beverages, and others to enhance the nutritional content of the products. These extracts are available in both conventional and organic forms. The tea extracts comprise bioactive ingredients such as caffeine, polyphenols, flavin, epigallocatechin, and others.
The growing consumption of convenience food along with the surging multifunctionality of tea is one of the major factors driving the growth of the global tea extracts market. Moreover, the increasing demand for tea extract from the food and beverage sector is positively impacting the market. Tea extracts are widely utilized in the production of several food products like confectionery, meat & meat products, instant noodles, cakes, cereals, and dairy products. Apart from adding taste, aroma, and flavor to the meal, these extracts are considered to impart several health benefits to the food. Extracts are increasingly being used in fortified and functional food & beverages like nutritional bars, energy drinks, and dietary supplements to enhance the nutritional content of the product. However, all these emerging scenarios will significantly bolster the growth of the market globally.
The global tea extracts market can be segmented into application, form, nature, source, and region.
By application, the market can be segmented into cosmetics, pharmaceuticals, and beverages & foods.
By form, the market can be segmented into liquid and powder.
By nature, the market can be segmented into convention and organic.
By source, the market can be segmented into oolong, green, black, and several other teas.
North America accounts for the largest share in the global tea extracts market as the region is considered to be the major producer of several kinds of tea. Moreover, the presence of prominent market players in the region will accentuate the growth of the regional market.
Some of the significant players in the global tea extracts market are Harrisons Tea, Halssen & Lyon GMBH, AVT Tea Sources Ltd., Taiyo International, Phyto Life Sciences Pvt Ltd., Teawolf, Cymbio Pharma Pvt. Ltd., Amax Nutrasource Inc., Futureceuticals, Indena SPA, Martin Bauer Group, A.Holliday & Co., Finlays, Frutarom, Synergy Flavors, Synthite Industries Ltd., Givaudan, Kemin Industries, Dupont, and Archer Daniels Midland. To cite, Givaudan inaugurated a new flagship center in Switzerland in June 2019. The center is about 12000 square meters and is built with the aim to create sustainable and differentiated taste, flavor, fragrance solutions for beauty, food & beverage, personal care, and home care industries.