The global Green Tea Extract market is projected to rise with a CAGR of 7% during the forecast period i.e. 2018-2023. Among the various types of Green Tea Extract, accounted for Lion Share in 2017 and is anticipated to grow at a highest CAGR during the forecast period i.e. 2018-2023. The North America and Europe region is dominating the Green Tea Extract market.
There are various reasons for the increase in demand of Green Tea Extract, such as the general population’s awareness towards the need to develop and/or maintain a healthy lifestyle.
What is Green Tea Extract?
Green Tea is a form of tea that is derived from unfermented Camellia sinensis leaves, originating mainly in parts of China and Japan. The Asian countries dominate production, although it has also been manufactured in countries such as Kenya, Turkey and Argentina. Green Tea Extract is the concentrated form of the beverage, used as supplements and for medical purposes.
What are the applications of Green Tea Extract?
Green Tea extract is said to have many benefits such as being a good source of anti-oxidants, which further helps to improve the heart health.
Green Tea contains caffeine, a stimulant which is used by many people such as business professionals and athletes to keep up with their day to day activities. The tea extract is used as a supplement for people who are deficient in catechins.
Market Research & Market Trends:
- Black Coffee has shown similar benefit as compared to green tea extract:
- Supplements are in the demand for the benefits they provide such as fat loss and per work out energy. Recent study has shown that black coffee has similar benefit like green tea. In addition black coffee is in demand as one of the ingredient in pre work out supplement. Thus for pre work out supplement, green teat extract will face a tough competition from black coffee.
- Kenya tea farmers to realize diminishing returns:
- Kenya is one of the largest producers of tea, aside from Asian countries, with black tea and green tea being most prominent. The farmers have produced more than demanded, causing excess supply and reducing prices. The government needs to support the farmers by finding suitable export markets, else these farmers may shift to other crops in the future which will further hamper the production of green tea in India.
- PepPod, a new supplement that is derived from green tea, arrives in the market:
- The composition of the newly available tablet does not contain any sugar or synthetic chemicals. Until now, green tea supplements have always contained some chemicals and sugar/ sweeteners, although we can expect changes in the composition of the offerings, based on the consumer demand.
Who are the key players in the Green Tea Extract Market?
The key players in the Green Tea Extract market are Nutrigold, Zhou, Hard Rhino, Bulk Supplements, PharmaFreak, Evlution Nutrition, NLA For Her, JYM Supplement Science, RSP Nutrition and various other companies.
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