(MENAFNEditorial) Matcha Tea Market - by Main Ingredients (Wheat, Rice), Functionality (Organic), Distribution Channel (Non-Store Based), Form (Dried and Fresh), Type (Spaghetti) and Region - Forecast to 2023
Market Overview:
Due to the large number of health advantages associated to matcha tea consumption, the market is growing at an incremental pace of development on the global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Matcha tea Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.
Rising health awareness and increasing consumption of unconventional healthy beverages have prompted the growth of matcha tea in the daily diet of individuals. The sector is driven in a major way by the demand directed from the nutraceuticals and pharmaceutical sectors. Increasing disposable income across the regions is one of the contributing factors for the growth of this market. Escalating applications of match tea in the personal care and cosmetics industries are the main drivers to the development of this segment. Growth of the functional foods market has also provided an impetus for the increased demand of this sector. High cultivation of matcha tea plantation in Japan is supporting high sale from the country and players in the matcha tea market are found to generate high revenues from Asia Pacific region.
Rapid globalization and consumer's awareness through advertisements have lately boosted up the sales of the product across the globe. Health conscious consumers are found to have more inclination towards matcha tea based on the health advantages obtained from it. Additionally, growing demand for herbal cosmetics prepared from plant extracts is supporting the sale of matcha tea as a key ingredients in the cosmetic products. Increasing awareness about the demerits of use of harmful chemical containing cosmetics is supporting the sale of natural ingredient based cosmetics on a global level. Owning to the potential application of matcha tea in various sectors, it's demand is experiencing a surge.
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Latest Industry Updates
Sept 2017 Vivid's Matcha launched new flavors in its matcha green tea. Since, players in the matcha tea market are involved in competition, they are often identified to use unique strategy to make their position more significant in the market. The company's product launch will ensure attracting consumer towards their product line.
Oct 2017 owning to continuous demand from the consumers end for to bring back the conventional tea formula, Unilever launched their first matcha green tea offering from its recently launched Pure Leaf brand. This strategy will ensure the strengthening of their product portfolio and also in attracting a huge consumer base.
Jan 2016 Aiya Co. Ltd. launched its new premium and ceremonial grade matcha products. The company is also following the strategy of product promotions to increase awareness about their offerings to strengthen their business portfolio in the matcha tea range.
Nov 2016 Nestle S.A. company introduced Nescafe Dolce Gusto Uji Matcha capsule to expand their product offerings in the matcha tea range. The company took forward this step of new product launch based on the increasing global demand for matcha tea.
Major Key Players:
The competition seems fierce with the growing demand for matcha tea across the globe. Players are found to indulge in various strategies to increase the sale of their product globally. Major strategies followed by the competitors are identified to be product promotions through various channels such as e-commerce platforms. Competitors also are using product innovations as their key strategy to introduce product differentiation and make their offerings in matcha tea line stand out from others.
The key players profiled in matcha tea are Nestlé SA (Switzerland), Tata Global Beverages Ltd (India), The Unilever Group (U.K.), AOI Tea Company (U.S.), Aiya Co. Ltd. (Japan), ITO EN, LTD. (Japan), Marukyu Koyamaen Co. Ltd. (Japan).
Market Segments:
The global matcha tea market has been divided into formulation, application, distribution channel and region.
On The Basis Of Formulation: Plain and Flavoured
On The Basis Of Application: Beverages, Food, Personal Care, Nutraceuticals and Others
On The Basis Of Distribution Channel: Store based and Non-store based
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Regional Analysis:
The global matcha tea market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global matcha tea market is highly dominated by Asia Pacific region due to high matcha tea plantation in the region. The consumption of matcha tea is found to be high in Japan and hence the market has strong potential in APAC region. Based on the increasing awareness advantages of matcha tea consumption, the market is experiencing high growth in the Europe and North America region. The application of matcha tea in nutraceuticals is anticipated to grow at a high rate based on the functional and nutritive property of the product.
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