The increasing awareness regarding the benefits of matcha tea is expected to boost the growth of the market, states Fortune Business Insights, in a report, titled “Matcha Tea Market Size, Share & Industry Analysis, By Product (Instant Premixes, Powder, Ready to drink), By Application (Matcha Beverages, Personal Care & Cosmetics, Food Products, Regular Tea), By Grade (Classic, Ceremonial, Culinary) Others and Regional Forecast, 2021-2028.” The launch of innovative products is predicted to enable speedy expansion of the matcha tea market.
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Introduction of Home Brewed Matcha Teas to Bolster Growth
Prominent companies in the market are focused on launching organically procured matcha teas to give their customers an authentic taste, which, in turn, can boost the growth of the market. For instance, in October 2017, Pure Leaf, a renowned brand of Unilever, launched its first-ever home brewed matcha teas. Through the latest product, Unilever aims to strengthen its position in the market. Matcha is marvelously milled green tea powder obtained from specialized processing of high-grade green tea leaves. The exotic and distinct flavor of matcha and its health benefits is expected to fuel product demand. Knowledge about the presence of nutritional elements in matcha, such as magnesium, vitamin C, Zinc, Selenium, and others, can encourage the market’s growth. However, low awareness about the product among people living in developing economies is expected to dampen the market’s development.
Key Strategies by Companies to Consolidate Business
Key companies operating in the global matcha tea (ingredient) market focus on launching innovative products to maintain their position. Matcha Maiden, Tata Global Beverages Ltd., Ippodo Tea Company, and Mizuba Tea are key companies operating in the global matcha tea market. Moreover, rising consumers focus on healthy lifestyles to push market growth. Epigallocatechin gallate (EGCG), present in matcha, is a phenolic antioxidant that can help prevent diseases.
The regular tea segment is projected to hold the prominent matcha tea market share due to its higher adoption. Antioxidant, energy-boosting, stress-relieving, and detoxifying properties present in matcha tea encourage consumers to opt for it as a regular tea, which is likely to boost the segment’s growth. Furthermore, the low-calorie content present in matcha tea is also a significant reason for its demand in the regular tea segment.
Culinary grade is expected to experience rapid growth in the forthcoming years due to its high adoption in the formulation of various confectionery items, bakery, snacks, and desserts. The classic segment is expected to hold a significant share due to its increased utilization for brewing beverages, coupled with its demand in developed regions due to its health benefits.
High Consumption of Tea to Foster Growth in Asia Pacific
Asia Pacific is expected to expand gradually during the forecast period. The high demand for tea as China, Japan, and India is expected to boost the region. Consumption of tea and leading tea-producing companies in countries such as China, India, Sri Lanka, and others can foster the market’s growth. North America is expected to hold a significant share during the forecast period. The rising inclination towards healthy lifestyle among American consumers is expected to boost growth in North America. The increasing number of matcha-based beverage selling outlets in North American countries such as Canada and the US can further aid the growth of the matcha tea market. Europe is expected to proliferate due to the favorable regulations associated with the trade of certain tea types, such as green tea, matcha, and others in the region.
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