Bulk of Matcha Tea Demand Spurred by Unsweetened Tea Sales, Recording 10% CAGR: Fact.MR Study
Published : 28 Jul 2021 Industry: Food & Beverage
A recent report by Fact.MR establishes that the market for matcha tea is expected to surpass US$ 5 Bn in the projected forecast period 2021-2031. As per the report, a CAGR of nearly 10% has been projected for the market in the forthcoming decade.
From 2016 to 2020, matcha tea sales expanded at a CAGR of around 8%, closing in at nearly US$ 2 Bn by the end of the historical period. Growth prospects have been further accelerated with the onset of COVID-19, as consumers increasingly opt for healthy beverage consumption.
Analysis concludes that matcha tea applications will abound in sectors such as skincare, desserts and healthcare industries respectively. Their antioxidant and nutritional properties are boding well for matcha tea sales. Also, manufacturers are focusing on offering the products in different packaging. This, in turn, has increased the reliability and usability factor of matcha tea.
Key Takeaways from the Market Study
- By type, organic matcha tea sales to expand at 7% CAGR through 2031
- India and China to collectively account for over 60% market revenue
- Standup pouches and sachets to be favored, jointly contributing over 50% revenue
- By flavor, unsweetened matcha tea sales likely to expand at nearly 10% CAGR until 2031
- Matcha tea sales across the U.S to expand at nearly 9% CAGR, amid high green tea consumption
- By sales channel, indirect sales, especially online platforms, to register maximum matcha tea distribution
- Sales of matcha tea in Asia to surpass a CAGR of 5% in the projected forecast period
“Increasing proportion of diabetic patients is prompting healthcare companies to advocated unsweetened matcha tea consumption, prompting key players to expand manufacturing in this category,” remarks the Fact.MR analyst.
Key players for matcha tea include AIO Tea Company, ITO EN ltd., Tata Consumer Products., Starbucks Corporation, Unilever PLC, Encha, Sasaki Green Tea Ltd, Mizuba Tea Co, Tenzo Tea, Green Food Corporation, Marukyu Koyamaen Co Ltd, Kissa Tea, Midori Spring Ltd.
For instance, in June 2021, Starbuck Corporation launched 47 Jimoto Frappuccino blended beverage series to celebrate its 25th anniversary in Japan. These beverages pay tribute to the different cultures and tastes of Japan.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global matcha tea market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of product type (unsweetened, sweetened, flavoured), nature (organic, conventional), packaging (cartons, sachets, stand-up pouches and tins), distribution channel (direct sales, indirect sales, modern trade, convenience stores, online retailers, other retail formats) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
Fact.MR’s Domain Knowledge in Food & Beverages
Our food and beverages consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the food and beverages sector. Our expertise in recognizing the challenges and trends impacting the global food and beverages industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Sr. Consultant – Food and Beverages