The Tea Extracts Global Market Report 2023, provides comprehensive information on the tea extracts market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Tea Extracts Global Market Report 2023, the market size is expected to grow from $3.87 billion in 2022 to $4.21 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The tea extracts market size is expected to grow to $5.48 billion in 2027 at a CAGR of 6.8%.
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New product innovations have emerged as the key trend gaining popularity in the tea extracts market. Major companies operating in the tea extract market are focused on new product innovations to meet consumer demand and strengthen their position. For instance, in February 2021, Finlays, a Kenya-based company that works on tea extraction facilities, launched their new premium natural tea extracts range called the Wellbeing Collection based on brush-to-bottle technology. This new range of premium, natural, and sustainably-sourced tea extracts is designed to help brand owners tap into consumer demand for healthy, natural, and sustainable products. This prevents the degradation of valuable oxygen-sensitive ingredients such as antioxidants.
The tea extracts market is segmented:
1) By Type: Black Tea, Oolong Tea, Green Tea, Other Types
2) By Nature: Organic, Conventional
3) By Form: Powder, Liquid
4) By Application: Food and Beverages, Pharmaceuticals, Cosmetics, Other Applications
5) By Distribution Channel: Online, Offline
North America was the largest region in the tea extracts market in 2022.
The table of contents in TBRC’s tea extracts market report includes:
- Executive Summary
- Tea Extracts Market Characteristics
- Tea Extracts Market Trends And Strategies
- Tea Extracts – Macro Economic Scenario
- Tea Extracts Market Size And Growth
- Tea Extracts Market Segmentation
- Tea Extracts Market Regional And Country Analysis
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- Tea Extracts Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Tea Extracts Market
- Tea Extracts Market Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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