Global Matcha Tea Powder Market Projected to Reach $25 Billion by 2031
Matcha Tea Powder Market: Introduction
Transparency Market Research delivers key insights on the global matcha tea powder market. In terms of revenue, the global matcha tea powder market is estimated to expand at a CAGR of ~9% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global matcha tea powder market report.
In this market report, TMR predicts the rapid growth in consumption of herbal tea, along with consumer shift toward natural products across the globe to have a noteworthy impact on the overall matcha tea powder market. Considering the numerous health benefits and escalating demand from customers, the global demand for matcha tea powder is witnessing robust growth over the past few years.
Matcha tea is defined as a type of herbal tea that helps end users by offering them several health benefits such as anti-oxidative properties. It may help to stabilize harmful free radicals, which are compounds that can damage cells and cause chronic disease. Consumption of matcha tea aids in improving memory, relieving pain, protecting the liver, promoting heart health, and preventing the risk of several cancers. Thus, intake of matcha tea as a herbal ingredient is a good option to deal with obesity and digestion issues.
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Key manufacturers of matcha tea powder continuously focus on investment in research & development to introduce innovative products. Prominent players in the matcha tea powder market are engaging with clients by offering them customized solutions. Likewise, the introduction of cost effective innovative solutions and advanced technology has encouraged manufacturers to focus on research and development to introduce innovative products. Matcha tea powder blends well with other herbs or with green tea to make an especially refreshing iced tea for summertime. This is likely to drive the growth of the matcha tea powder market.
Rising tea culture and consumption of herbal tea are major reason for the growth of the matcha tea powder market. Matcha tea powder is becoming popular among users, owing to its multiple health benefits and enhanced taste. In addition, ease of availability in the form of dried leaves powder, loose leaf, or paper bag is likely to drive the demand. The promotion of matcha tea in the form of food additive, cosmetics, beverage, and home ingredients for the overall health is likely to propel the demand for matcha tea powder.
In terms of product grade, the matcha tea powder market has been segmented into ceremony and culinary. In recent years, rising usage of culinary grade matcha tea product as a food additive in different types of food and beverages is encouraging the growth of the matcha tea powder market. However, rising consumption of matcha tea is also encouraging the growth of the market in terms of the ceremony segment in recent years.
Based on end use, the matcha tea powder market is likely to be driven by the residential segment. This is due to rising consumption of matcha tea, along with increasing preference for its powder in several food preparations by users in the residential sector. Based on packaging style, the market has been categorized into loose tea and packaged tea. The market on the basis of distribution channel is likely to driven by the online channel as most end users find it to be a convenient channel for shopping as it provides huge discounts while purchasing.
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Matcha Tea Powder Market: Prominent Regions
Geographically, Asia Pacific led the matcha tea powder market in 2020 and the region is expected to retain its dominance during the forecast period. Rising preference for matcha tea powder in countries such as Japan, China, Australia, and Southeast Asia is encouraging the growth of the market. Apart from Asia Pacific, North America also significantly contributes to the growth of the global matcha tea powder market. The U.S. and Canada are considered the major markets for matcha tea powder in North America. In addition, rising awareness regarding several health benefits derived from the consumption of matcha tea is promoting sales in the market.
Matcha Tea Powder Market: Key Players
The competition landscape of the matcha tea powder market is moderately fragmented with leading players accounting for majority of the revenue share. Key players operating in the global matcha tea powder market include Associated British Foods plc, Yamamotoyama Co. Ltd., Encha, and Mizuba Tea Co.
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