Global Black Tea Extracts Market was valued US$ 100.01 Mn in 2019 and is expected to reach US$ XX Mn by 2026, at a CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The major driving factors of global black tea extracts market are high growth include rising health conscious consumers, increasing purchasing power, and rise in per capita health expenditure. In addition, increased disposable income and changing consumer preferences toward ready-to-drink beverages are drive the market during forecast period. Availability of substitute product like green tea is restring the global black tea extracts market growth.
The black tea extracts market is segmented into form, product, application, and region. In terms of form, global black tea extracts market is classified into powder, liquid, and encapsulated. Based on product, global black tea extracts market is divided into hot water soluble, and cold water soluble. Further application, global black tea extracts market is split functional food, beverages, cosmetics, and beauty supplements.
In terms of application, beverage supplements market is changing the consumers begin to avoid high sugar content products such as carbonated soft drinks for drinks they perceive as having healthier drinks such as tea. Based on forms, powdered form of black tea extracts is expected to be the fastest-growing segment, in terms of revenue, owing to the superior health benefits offered by the product and rising product sales through e-commerce platforms. On the basis of product, hot water soluble product segment is expected to dominate the market in terms of revenue, on account of high demand for the product for use as an ingredient in the nutraceutical products.
Based on regions, the global black tea extracts market is divided into five main regions are America, Europe, Asia-pacific, Latin America and Middle East & Africa. In terms of region, Asia Pacific is expected to be a dominant for black tea extracts owing to the larger production and consumption trend observed in the region. Moreover, North America is expected to be the largest importer of the product for use in the cosmetic applications, ready-to-drink beverages, and other beauty supplement industries. The major factors are increasing demand for ready-to-drink beverages as an alternative to other herbal drinks on account of the nutritious health benefits.
Some of the key players in the global black tea extracts market are Synthite Industries Limited, Finlay, Martin Bauer Group, Amax NutraSource, Inc, Kemin Industries, AVT Natural Products Ltd., and Cymbio Pharma Pvt. Ltd.
The objective of the report is to present comprehensive analysis of Global Black Tea Extracts Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Black Tea Extracts Market dynamics, structure by analyzing the market segments, and project the Global Black Tea Extracts Market size. Clear representation of competitive analysis of key players by Global Black Tea Extracts Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Black Tea Extracts Market make the report investor’s guide.
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Scope of Global Black Tea Extracts Market:
Black Tea Extracts Market, by Form:
Black Tea Extracts Market, by Product:
• Hot Water Soluble
• Cold Water Soluble
Black Tea Extracts Market, by Application:
• Functional Food
• Beauty Supplements
Black Tea Extracts Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
Key players operating in Global Black Tea Extracts Market:
• Synthite Industries Limited
• Martin Bauer Group
• Amax NutraSource, Inc
• Kemin Industries
• AVT Natural Products Ltd.
• Cymbio Pharma Pvt. Ltd.
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