The global market for tea polyphenols is expected to reach USD 367.7 million by 2020, according to a new research report by Grand View Research, Inc. Growing consumer awareness regarding nutritional benefits offered by tea polyphenols is expected to boost market demand over the forecast period. Grand View Research further observes that growing aging population mainly in Japan and Western Europe is expected to drive the market for tea polyphenols over the next six years. In addition, the changing lifestyle has led to increased global prevalence of diabetes and cancer, which has resulted in a shift to consume nutraceutical products including tea polyphenols.
Green tea polyphenols emerged as the leading product segment consumed worldwide and accounted for over 70% of the total market in 2012. Green tea generally contains high amount of polyphenols such as catechins, flavanols, etc. which makes it ideal for the treatment of lifestyle diseases including diabetes, obesity and cancer etc. Green tea generally contains 30% to 40% of water extractable polyphenols. Along with being the largest type, it is also expected to be the fastest growing type tea polyphenols at an estimated CAGR of 8.8% over the forecast period. Green tea polyphenols were followed by oolong tea polyphenols which accounted for just over 16% of the total market in 2012.
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Further Key findings from the study suggest:
- Global tea polyphenols demand is expected to be 9,169.9 tons by 2020, growing at a CAGR of 8.3% from 2013 to 2020.
- Functional beverages were the largest application segment of tea polyphenols and accounted over 40% of the total demand in 2012. Functional beverages are also expected to be the fastest growing application segment with an estimated CAGR of 8.6% from 2013 to 2020. Functional beverages were followed by functional food which accounted for over 30% of the total demand in 2012.
- Asia Pacific dominated the global market and accounted for 40% of the total demand in 2012. Growing aging population, mainly in Japan, coupled with increasing consumer spending on nutraceutical products in China and India has been driving the market for tea polyphenols in the region. As a result, Asia Pacific is also expected to be the fastest growing market for tea polyphenols at an estimated CAGR of 9.2% from 2013 to 2020. Asia Pacific was followed by Europe and North America which together accounted for over half of the global market in 2012.
- The global market is highly concentrated. However, the presence of large unorganized market in Asia Pacific is expected to impact the profitability of Western producers. Some of the major companies involved in producing tea polyphenols include Naturex, Ajinomoto Omnichem Natural Specialties, Indena S.P.A., Lyn Natural Ingredients Corp, Tianjin Jianfeng Natural Products Co. Ltd and Xian Haotian Bio-engineering Technology Co., Ltd among some other companies.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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