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Black Tea Extracts Market Reach $153.0 Million By 2025 With CAGR of 4.8%: Grand View research, Inc.

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Black Tea Extracts Market Reach $153.0 Million By 2025 With CAGR of 4.8%: Grand View research, Inc.

February 17
11:15 2020
Black Tea Extracts Market Reach $153.0 Million By 2025 With CAGR of 4.8%: Grand View research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc. The global black tea extracts market size was estimated at USD 94.1 million in 2016. The increasing popularity of ready-to-drink beverages as a substitute to sodas and other fruit drinks is anticipated to drive the market growth.

The global black tea extracts market is expected to reach USD 153.0 million by 2025, growing at a CAGR of 4.8%, according to a new report by Grand View Research, Inc. The market for black tea extracts is anticipated to grow with the rising awareness among population regarding the health benefits offered by the product. In addition, rising groceries, retail stores, and supermarkets, which offer the products, are expected to trigger the market growth.

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U.S. black tea extracts market

Black tea extracts are used in dietary supplements owing to the superior concentration of vitamins and minerals. The product contains antioxidants and polyphenols, which are responsible for improving metabolism and inhibiting the bacterial growth. It is also effective in reducing lifestyle induced diseases such as diabetes and blood pressure as it helps in reducing the stress levels in the body.

Further key findings from the report suggest:

  • Powdered form of black tea extracts is expected to be the fastest-growing segment, in terms of revenue, indicating a CAGR of 5.1% from 2017 to 2025 owing to the superior health benefits offered by the product and rising product sales through e-commerce platforms

  • Hot water soluble product segment is expected to denote a CAGR of 4.3%, in terms of revenue, on account of high demand for the product for use as an ingredient in the nutraceutical products.

  • Asia Pacific is anticipated to emerge as the fastest-growing region, indicating a CAGR of 5.9% from 2017 to 2025 on account of growing population coupled with rising sales of the product in the region.

  • A large number of black tea extract producing companies are present in Asia Pacific on account of favorable climatic conditions and inexpensive resources, which is anticipated to drive the production in the regional market.

  • The demand in volume for black tea extracts in the manufacture of beverages, such as RTDs, accounted for 45.8% of the global consumption in 2016, in terms of volume, on account of high demand for such products by the younger population

  • Key companies in the industry are involved in the production of advanced tea extracts in accordance with the requirements listed by the consumer industries. The companies involved in the manufacturing of black tea extracts are adopting innovative technologies to increase yield.

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Global black tea extracts market

Black tea extracts industry is anticipated to grow on account of efforts undertaken by manufacturers to engage in backward integration coupled with the adoption of contract farming as a tool to improve the yield. The adoption of contract farming aids in stabilizing the fluctuating market conditions and changing consumption patterns, which in turn is expected to aid the market growth. In addition, manufacturers are inclined toward using innovative extraction methods such as UAE, MAE, and SCFE to increase the concentration of polyphenols in the extract in an attempt to increase the customer base.

Access complete Black Tea Extracts Report By Grand View research, Inc.

Grand View Research has segmented the black tea extracts market on the basis of form, product, application, and region:

Form Outlook (Volume, Tons; Revenue, 000’ USD; 2014 – 2025)

  • Powder

  • Liquid

  • Encapsulated

Product Outlook (Volume, Tons; Revenue, 000’ USD; 2014 – 2025)

  • Hot Water Soluble

  • Cold Water Soluble

Application Outlook (Volume, Tons; Revenue, 000’ USD; 2014 – 2025)

  • Functional Food

  • Beverages

  • Cosmetics

  • Beauty Supplements

Regional Outlook (Volume, Tons; Revenue, 000’ USD; 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

  • Asia Pacific

    • China

    • Japan

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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Website: https://www.grandviewresearch.com/industry-analysis/black-tea-extracts-market