Market Synopsis:
As per Market Research Future (MRFR)’s assessment, the global matcha tea market is expected to reach USD 5.62 Bn market towards the end of 2023. It is also estimated to thrive at a CAGR of 9.69% during the forecast period 2017 to 2023. Matcha tea is effective and efficient in treating largely prevalent health disorders such as cardiovascular diseases, obesity, high blood sugar levels, etc. The awareness about its benefits has attracted a larger customer base. The matcha tea market is far from maturity and is poised to expand at a healthy pace over the next couple of years.
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The tea has its origin in the Asia countries, but its adoption by the western countries is projected to lead the expansion of the matcha tea market across the review period. Key players are focusing on the production of innovative products for intensifying their brand visibility. In addition, the fusion of matcha tea and other products such as beverages, desserts, etc. is another factor responsible for generating matcha tea demand. However, the production process of matcha tea remains labor-intensive for retaining its premium quality which requires massive capital investment. This, in turn, is likely to increase the cost of the end products, thus, restricting market growth.
Market Segmentation:
By application, the global matcha tea market has been segmented into beverages, nutraceuticals and others. Among these, the beverages segment is likely to dominate the matcha tea market in the forthcoming years. Meanwhile, the nutraceutical segment is poised to expand at a relatively higher CAGR over the assessment period.
By formulation, the matcha tea market has been segmented into plain and flavored. The flavored segment currently has a larger consumer base and is prognosticated to retain its dominance in the upcoming years.
By distribution channel, the global matcha tea market has been segmented into store based and non-store based. The store based segment is prognosticated to penetrate a larger share of the market in the foreseeable future.
Regional Analysis:
By region, the global matcha tea market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific houses the origin of matcha tea and is likely to retain its prominence by holding major share of the global market. Japan is expected to ace the growth of the regional matcha tea market.
Europeans have been witnessed to have a higher preference for healthy diet and drinks. Matcha tea market participants have capitalized on the thriving health-conscious population in the region to accelerate revenue creation. The regional market is anticipated to secure the pole position in the global matcha tea market through the projection period.
Competitive Dashboard:
Some of the key players profiled in the report are Tata Global Beverages Ltd (India), Nestlé SA (Switzerland), The Unilever Group (U.K.), Aiya Co. Ltd. (Japan), AOI Tea Company (U.S.), ITO EN, LTD. (Japan), and Marukyu Koyamaen Co. Ltd. (Japan).
Industry News:
In January 2019, Tempo Tea, a functional beverage company, has launched a trio of sparkling teas which include sparkling matcha with raspberry and lime, sparkling rooibos tea with hibiscus and strawberry, and, sparkling black tea with blood orange and ginseng.
In November 2018, Kickback Cold Brew, an innovator in the CBD-beverage industry, has announced the launch of its new line of CBD-infused loose-leaf teas. The lineup includes Matcha’cha and Peachy Dreams.
In July 2018, MatchaBar, which is on a mission to bring matcha to people, has closed a funding of USD 8 Mn.
In April 2018, Pinkberry®, a franchise of frozen dessert restaurants, has launched ‘A Perfect Matcha’ that features the new Green Tea Lemonade frozen yogurt topped with mango, pineapple, and sprinkled with matcha powder.
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