Latest market study on "Global Tea Extract Market to 2027 - Analysis and Forecasts by Source (Black Tea, Green Tea, Oolong Tea, Others); Application (Food, Beverages, Pharmaceuticals, Cosmetics); Nature (Organic, Conventional); Form (Powder, Liquid), and Geography", The global tea extract market is accounted to US$ 2,520.0 Mn in 2018 and is expected to grow at a CAGR of 6.8% during the forecast period 2019 - 2027, to account to US$ 4,500.7 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

Tea is considered as the most popular and commonly served beverage in the globe. Tea extracts are defined as the concentrated form of tea and is extracted from black tea, green tea, and oolong tea, among others. Tea extracts such as green tea are high in antioxidants and promote heart health. Europe accounted for the largest share of the global tea extracts market. The growth of the market in this region is primarily attributed to the growing demand for tea extracts in applications such as food, beverages, and cosmetics. Additionally, the growing inclination toward a healthy lifestyle, along with the high purchasing power of consumers, is also fueling the market growth in this region. Increasing focus of manufacturers toward research and development to bring new and improved variety of products has also stimulated the demand for tea extracts. Companies such as Robertet Group, ADM WILD Europe GmbH & Co.KG and Finlays have established a strong presence in the region, and they are aiming to broaden their market share.

The health benefits related to the tea extract is exhibits anti-oxidants, anti-allergic, anti-viral and anti-spasmodic properties owing to which it is widely preferable by consumers. The black tea helps to lower the incidence of several diseases such as neurological disease, diabetes, cardiovascular disease, cancer and others and also ensures oral health. The conventional farming for the tea extract is one of the most practiced farming methods which involves use of fertilizers, pesticides and other chemical compounds to cultivate the crop. The conventional form of farming technique is widely adopted among the farmers in order to obtain higher yield and availability of product at low cost. The liquid form of tea extracts is an aqueous solution of tea extracts as a concentrated product. The powdered form of tea extracts is mixed along with water along with several preservatives to form aqueous tea concentrates. This concentrates can then be used in several application bases such as food, beverages, pharmaceuticals, and other end-uses. Tea extracts are added in various beverages so as improve the taste, flavor, and nutritional profile of the beverage. Recent product innovations in the beverages have led to the introduction of many new products and flavors in beverages, which in turn is boosting the tea extracts market for beverages. The trend towards a healthy lifestyle and disease prevention are some of the major leading to high demand for tea extracts beverages.

The increasing health concerns and shift towards health benefits among consumers and the growing demand for tea extracts from food, beverages and pharmaceutical industries are some of the major factors which is driving the market. However, the availability of substitutes for the tea extract in the developed and the developing countries such as coffee extract and plant extracts may hamper the growth of the tea extract market at a global level. Nevertheless, the increasing use of tea extracts in in a wide range of applications such as cosmetic is providing an opportunity to the major global tea extract market players. ADM WILD Europe GmbH & Co.KG, Martin Bauer Group, Goodricke Group Limited, Allen Flavors Inc. are some of the major players operating in the global tea extract market.

The global tea extract market by geography is segmented into five regions, including North America, Europe, Asia Pacific, Middle East and Africa, and South America. Europe region is expected to account for the largest share of the global tea extract market in 2018, followed by North America and Asia Pacific. In addition, some of the major players in the tea extract market include ADM WILD Europe GmbH & Co.KG, Allen Flavors, Inc., Amelia Bay, Damin Food (Zhangzhou) Co., Ltd., Dohler, Finlays, Fujian Xian Yang Biotechnology Co., Ltd., Goodricke Group Limited, Martin Bauer Group, Quala, Robertet Group, ShanShan Tea, Shenzhen Shenbao Huacheng Tech.Co., Ltd., Synergy Flavors, Tata Global Beverages, Unilever and Zhejiang MingHuang food shares development co., LTD, among others.

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