Global Black Tea Extract Market Insights Forecasts to 2033

• The Global Black Tea Extract Market Size was Valued at USD 138.7 Million in 2023
• The Market Size is Growing at a CAGR of 4.66% from 2023 to 2033
• The Worldwide Black Tea Extract Market Size is Expected to Reach USD 218.8 Million by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Black Tea Extract Market Size is Anticipated to Exceed USD 218.8 Million by 2033, Growing at a CAGR of 4.66% from 2023 to 2033. Growth in the market is expected to be driven by the growing popularity of ready-to-drink beverages as an alternative to soda and other fruit drinks. Moreover, shifting consumer preferences away from synthetic chemicals and toward nutrient-dense dietary supplements has also driven the growth of the market.

BLACK TEA EXTRACT MARKET REPORT OVERVIEW

The most often consumed tea worldwide is black tea. The following elements are abundant in black tea extract: vitamin C, zinc, iron, magnesium, copper, manganese, potassium, fluoride, and calcium. In addition to being anti-allergic, anti-viral, and anti-spasmodic, black tea extract has more antioxidant content than black tea extract. The powdered form of black tea leaves is used to make black tea extract. The plant known as Camellia sinesis is the source of these leaves.

The market for black tea extract is being driven by rising consumer awareness of the health benefits of tea drinking, which include improved cardiovascular health, enhanced immune system function, and potential cancer prevention. The extract is widely used in many different industries, including the food industry. Rising demand for natural and organic components is one of the major market trends; in response, organic black tea extracts have been developed to appeal to consumers who are health-conscious. The quality and effectiveness of black tea extracts are also being improved by developments in extraction methods, such as enzymatic and supercritical fluid extraction, which is propelling the market's expansion.

Black tea extracts' anti-aging and anti-inflammatory qualities are making them popular in the personal care and cosmetics sectors. In order to address issues like wrinkles, dullness, and irritation, manufacturers are putting them into skincare products, hair care products, and cosmetics. As customers look for natural options in their beauty regimens, this trend is anticipated to drive market expansion.

India is the world's second-largest producer of tea and black tea, with an estimated 1350 million kilograms produced year. The country is self-sufficient in meeting its export commitments as well as its internal needs.  With almost 18% of the world's tea consumption going to India, the country is also the biggest consumer of black tea. In addition to serving a sizable home market, Indian teas are exported to a number of countries, ranking them as the world's fourth largest exporter.

Report Coverage

This research report categorizes the market for the black tea extract market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the black tea extract market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the black tea extract market.

DRIVING FACTORS:

“Growing consumer awareness of health issues has positively impacted market expansion”

The increasing inclination towards ready-to-drink beverages as a substitute for carbonated drinks and fruit-based beverages is responsible for the market's consistent expansion. The market for black tea extracts is anticipated to grow even more as a result of this change in consumer behavior. A major opportunity for black tea extracts is the growing interest in functional meals and dietary supplements with health benefits. Their use in fortified food and beverage formulations, as well as in different supplement formulations, is driven by their potential benefits, which include enhanced cognitive function, weight control, and immune system support. The market for black tea extract is primarily expanding due to increased consumer awareness of the negative effects of artificial Flavors. The market for black tea extract is also anticipated to have a surge in demand throughout the projected period due to the growing popularity of herbal dietary supplements and fortified, creative beverages.

RESTRAINING FACTORS

“High cost of production can impede the growth of the market”

High production costs and changes in the price of raw materials are two important variables that could limit the market's ability to increase in revenue.

Market Segmentation

The global black tea extract market share is classified into product, form, and application.

Which segment is expected to hold the largest share of the global black tea extract market during the forecast period?

“It is projected that the hot water-soluble segment can have the largest market share over the course of the forecast period”

Based on product, the global black tea extract market is classified into hot water-soluble, and cold water-soluble. Low concentrations, such 0.35 to 0.45g in 100 ml of water, are typically used for hot water-soluble products. In contrast to cold-water-soluble beverages, hot-water-soluble products include distinct kinds of antioxidants since the content of antioxidants changes depending on the extraction temperature. The product is often offered in powdered form in a variety of flavors for use in beverage preparation. The powdered form's improved qualities, including its simplicity of use and storage, have further raised demand for it. Hot water-soluble products are better than other drinks because they retain more nutrients and bioactive components.

Which form is dominating the global black tea extract market?

“Powder form is the most dominating category due to rising consumer demand for personal care products is anticipated to develop the growth of the market”

Based on form, the global black tea extract market is classified into powder, liquid, and encapsulated. The cosmetics business uses powder form, and because of the growing demand for organic and personal care products, powder form is expected to increase at the fastest rate. Because consumers are increasingly choosing to use nutrient-dense ready-to-drink alternatives, the product is mostly found in powdered form in these types of beverages. Powdered extracts can be utilized in hot or cold-water soluble products for therapeutic purposes, as they dissolve easily and provide varying antioxidant benefits depending on the temperature. Moreover, high growth is anticipated to be explained by elements like global transportation and stocking simplicity.

Why cosmetic industry is a leading sector of the global black tea extract?

“The cosmetics industry is predicted to increase at the fastest rate over the projected period of time due to the addition of organic components and rising public awareness”

Based on the application, the global black tea extract market is classified into food & beverages, cosmetics, and pharmaceuticals. The addition of organic components and growing public awareness of the negative effects of synthetic substances are expected to propel the cosmetics business to the fastest growth rate throughout the projected timeframe. In comparison to other personal care items, it is projected that the product's application in perfumes would have the most market share over the forecast period. Astringent, humectant, antifungal, and skin conditioner are just a few of the qualities that the extracts provide. It is anticipated that growth would be driven by the product's demand in the cosmetics industry. Black tea extracts are also expected to expand at a faster rate during the forecast period due to consumers' growing awareness of environmental issues when making purchases.

Regional Segment Analysis of the Global Black Tea Extract Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Which region is expected to hold the largest share of the black tea extract market over the forecast period?

“Asia-Pacific region is holding the highest share of the global black tea extract market during the forecast period”

Given the increased production and consumption trend seen in the region, Asia Pacific is anticipated to be a major player in the black tea extract market. The expansion of the product is expected to be driven by the presence of key companies in the Asia Pacific region, rising disposable income, and shifting customer preferences toward ready-to-drink beverages. Since many businesses are concentrating on producing products that are specifically tailored for end-use sectors, the rise in product consumption is anticipated to be driven by these creative manufacturing techniques during the course of the projected period.

Why North America is growing at the fastest CAGR in the global black tea extract market?

In terms of using the product for ready-to-drink beverages, cosmetic applications, and other beauty supplement industries, North America is expected to be the most significant importer. Given their nutritional advantages over other herbal drinks, the area saw a significant increase in demand for ready-to-drink beverages.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global black tea extract market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Amax NutraSource, Inc.
• Kemin Industries
• AVT Natural Products Ltd.
• Cymbio Pharma Pvt. Ltd.
• Phyto Life Sciences Pvt. Ltd.
• Blueberry Agro Products Pvt. Ltd.
• Synthite Industries Limited
• Finlays
• Martin Bauer Group
• Kemin Industries
• Cymbio Pharma Pvt. Ltd.
• Teawolf
• Teawell
• Teavigo
• Teanin
• Others

Key Market Developments

• In June 2022, Clipper Tea, a British-based Certified B-Corp tea brand dedicated to creating a better cup of tea, is providing the next generation of tea lovers with sought-after experiences and fashionable flavors.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global black tea extract market based on the below-mentioned segments: 

Global Black Tea Extract Market, By Product

• Hot Water- Soluble
• Cold Water-Soluble

Global Black Tea Extract Market, By Form

• Powder
• Liquid
• Encapsulated

Global Black Tea Extract Market, By Application

• Food & Beverages
• Cosmetics
• Pharmaceuticals

Global Black Tea Extract Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa