Black Tea Extract Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1278
Black Tea Extract Market size may grow significantly over the forecast timeframe. Strong application scope in food additives and cosmetic industry may drive product demand. It contains compounds, theaflavins such as EGCG which reduces inflammation and fight against free radicals. It contains about 2% to 4% caffeine.
Global tea market was valued at over USD 40 billion in 2015 and may reach up to USD 50 billion by 2024, registering over 3% growth. The total production over 5 million tons and consumption was over 4.5 million tons in 2015 and this may increase steadily owing to strong consumer demands for flavored tea and low cost compared to other beverages.
Strong application scope in food additives industry may favor black tea extract market size. Global food additives market was valued at over USD 30 billion in 2015 and may exceed USD 45 billion in sales by 2024, with gains at over 3.5%. U.S. accounted for over 80% consumption which reduces C-reactive protein growth in the body, alleviating cardiovascular diseases.
Global cosmetics market may surpass USD 675 billion by 2024 at gains over 6.5%. Asia Pacific accounted for over 35% of the total market share in 2015 due to the changing lifestyles and increase in beauty consciousness among the consumers. Black tea extract gel reduces skin redness after the exposure to UV light. In addition, it minimizes skin cancer probability on account of its antioxidant properties. Black tea extract is used to enhance skin health and reduces visible symptoms of aging. The theaflavins reduces inflammation and soothes skin. In addition, it increases hair thickness by decreasing dihydrotestosterone, thereby reducing hair loss due to caffeine content.
Increasing herbal medicines demand may positive influence black tea extract market size. Functional food with herbal ingredients are witnessing a significant consumption growth over the forecast timeframe. Black tea extract serves as an herbal medicine, as it significantly minimizes the risk of oral cancer for those who intake tobacco products or smokes cigarettes. It also prevents cancer by hindering malignant tumors growth. Tannins present can fight viruses such as dysentery, influenza, cold, flu and hepatitis. Catechin, a form of tannin helps in suppressing tumors. Alkylamine antigens helps in increasing the immune response.
Global dietary supplements market size was over USD 120 billion in 2015. Increasing consumer awareness towards nutritional enrichment and calorie reduction mainly in China, Italy, and the U.S. should drive industry growth in food & beverage sector and favor black tea extract market growth. Positive outlook towards sports nutrition on account of increase in active lifestyle should promote dietary supplements consumption. Black tea extract is consumed for weight loss supplements as it is cost-effective.
Black tea extract can be used as pills including powder, or as tinctures mixed with water and alcohol. Powder form is mainly used in Japan and may show significant growth. These are used in flavoring dishes like soups and desserts. Liquid form is achieved by fermenting dry leaves by a solvent processing, ensuring product safety and quality.
North America, led by the U.S. black tea extract market size, is likely to hold a comparatively high share in terms of market value owing to higher product consumption. U.S. imported over 120 kilo tons of tea in 2015.
Asia Pacific, driven by India and China black tea extract market size, may register gains owing to increase in health awareness along with rise in per-capita disposable income, thereby influencing regional growth. China and India accounted for over 85% of the total tea produced in 2015.
Black tea is majorly produced in Kenya and accounted for over 25% of the total export in 2015. Kenya exports its product in UK, Egypt, and Pakistan. Favorable trend in packaging and marketing initiatives should drive regional growth. Most of the manufacturing companies are vertical integrated across the value chain, thereby enhancing the production process.
Global black tea extract market share is competitive. Key players operating in black tea extract industry include Kemin, AVT Natural, Synthite, Martin Bauer Group, and Finlays. Other prominent companies include Phyto Life Sciences, Autocrat LLC, Cymbio Pharma, Blueberry Agro Products, Amax and NutraSource.
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