Neurodegenerative diseases like Alzheimer’s and Parkinson’s have shifted the preference of consumers towards nutraceutical products. These products help prevent the symptoms of the aforementioned illnesses. Tea polyphenols are readily present in green tea, black tea, and oolong tea. Green tea contains catechins, tannins, and flavenols, meant to treat lifestyle diseases, like diabetes and its likes. Awareness regarding health benefits of tea polyphenols has been the prime driver of the tea polyphenols market.
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The market is projected to attain around USD 367.7 million by 2020. It has an expectant growth rate of 7.4% during 2013 to 2020 (forecast period). The market was worth USD 209.3 million in 2012. Its demand volumes should grow at 8.3% CAGR over the forecast period.
Market products comprise green tea, oolong tea, and black tea. All these are derived from the same plant, Camellia Sinensis. Among these, green tea was the most consumed product, accounting for over 72% of the overall volumes in 2012. It is also the fastest growing segment, with an estimated 8.8% CAGR in the next seven years. Oolong tea captured more than 15% of the total volumes in 2012. Black tea should surpass USD 25 million by 2020, at 6.3% CAGR in the forecast period.
Applications of the tea polyphenols market include dietary supplements, functional foods & beverages, cosmetics, natural colors, etc. Functional beverages were the largest application in 2012 and occupied over 40% of the total demand. They would enjoy a growth rate of 8.6% till 2020. Functional foods were the second largest application in 2012, capturing more than 30% of the overall demand.
Asia Pacific was the largest tea polyphenols market (due to an aging population in Japan) in 2012. It enjoyed 40% volume share the same year. The region will remain the fastest growing market, with 9.2% CAGR in the coming seven years. North America emerged as the second largest market in 2012, accounting for 27% volumes, followed by Europe.
The worldwide tea polyphenols market is competitive and has several players. Additionally, unorganized regions in Asia Pacific will saturate the market. Some prominent players cover Amax NutraSource Inc., Naturex, FutureCeuticals, Layn Natural Ingredients Corp., and Martin Bauer Group.
Information Source: Grand View Research