The global tea polysaccharides market is driven by factors such as an increase in demand for organic and plant-based food ingredients by the food & beverages and nutraceutical industry.
PORTLAND, Ore., Sept. 14, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Tea Polysaccharides Market by Type [Oolong Tea, Black Tea, Green Tea, and Others], Form [Powder & Liquid], and Application (Food & Beverages Industry, Nutraceuticals Industry, and Others), Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global tea polysaccharides industry generated $886.7 million in 2022, and is anticipated to generate $1.9 billion by 2032, witnessing a CAGR of 7.7% from 2023 to 2032.
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Tea polysaccharide (TPS) is one of the main bioactive constituents of tea and is beneficial for health. Tea polysaccharides are commonly used for the production of a variety of teas such as green tea, black tea, and oolong tea.
Prime determinants of growth
The global tea polysaccharides market is driven by factors such as growing demand for functional & natural ingredients and increasing awareness of health benefits. However, the limited capacity and scalability for tea polysaccharides businesses restricts market growth. Moreover, the expansion of tea polysaccharides facilities into new markets and locations offers new opportunities in the coming years.
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size in 2022 | $886.7 million |
Market Size in 2032 | $1.9 billion |
CAGR | 7.7 % |
No. of Pages in Report | 250 |
Segments covered | Type, Form, Application, and Region |
Drivers |
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Opportunities |
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Restraints |
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The black tea segment to maintain its leadership status throughout the forecast period
Based on type, the black tea segment dominated the market in 2022 accounting for less than half of the market share and is expected to dominate the market during the forecast period. This is owing to its rich flavor and possible health advantages, has gained appeal among health-conscious customers. This rise in demand for black tea and its extracts offers prospects for its incorporation into a wide range of goods, including nutritional beverages, supplements, and cosmetics formulations. The green tea segment is projected to manifest the highest CAGR of 8.4% from 2023 to 2032.
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The powder segment to maintain its lead position during the forecast period
On the basis of the form, the powder segment dominated the market in 2022 accounting for more than two-thirds of the market share and is expected to maintain its dominance during the forecast period. The versatility of tea polysaccharides powder in composition and ease of usage makes it appealing to producers. The increased understanding of the potential health advantages of tea polysaccharides, including antioxidant and immune-boosting qualities, has pushed their inclusion into a variety of food, beverage, and nutraceutical products.The liquid segment is projected to manifest the highest CAGR of 8.3% from 2023 to 2032.
The food and beverages industry segment to maintain its lead position during the forecast period
On the basis of the application, the food and beverages segment dominated the market in 2022 accounting for less than two-thirds of the market share and is expected to maintain its dominance during the forecast period. The usage of tea polysaccharides is increasing as manufacturers are incorporating a broad range of food & beverage items, including immunity-boosting teas, energy bars, and nutritional supplements.The nutraceuticals segment is projected to manifest the highest CAGR of 8.4% from 2023 to 2032.
Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for less than two-fifths of the global tea polysaccharides market revenue and is likely to dominate the market during the forecast period. Functional food products are widely used for weight management, clinical nutrition, and cardio health in many European countries. An increase in investments by several small and midsized food manufacturing companies in developing countries has increased the requirement for organic ingredients such as tea polysaccharides.However, Asia-Pacific region held the major CAGR of 8.7% in 2032.
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Leading Market Players: -
- Xi'an Sunhealth Biotech Co., Ltd
- Wellgreen Technology Co., Ltd
- Seebio Biotech (Shanghai) Co., Ltd
- Finlays
- International Flavors & Fragrances Inc.
- Mark T. Wendell Tea Company
- RFI Ingredients, LLC.
- Martin Bauer Group GmbH & Co. KG
- Hunan Nutramax Inc.
- Tea Source.
The report provides a detailed analysis of these key players in the global tea polysaccharides market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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