At 7.3% CAGR, Asia Pacific Tea Extracts Market is Projected to be Worth US$ 2,011.41 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific tea extracts market was valued at US$ 1,148.35 million in 2023 and is expected to reach US$ 2,011.41 million by 2031, registering a CAGR of 7.3% from 2023 to 2031. Growth of cosmetic and personal care industry and wide application scope of tea extracts are among the critical factors attributed to drive the Asia Pacific tea extracts market growth.

In Asia Pacific, the expenditure on skincare and makeup products is increasing which plays a major role in boosting the business of the cosmetic and personal care industry worldwide. The beauty and personal care sector are significantly growing in Asia countries such as India, China, Japan, and South Korea. As per World Bank data, consumer expenditure in India increased from US$ 1.9 trillion in 2018 to US$ 2.4 trillion in 2022. According to the Korea Customs Service statistics, skincare cosmetics was the largest import category, representing 41.8%, or US$ 711 million of total cosmetic imports, in 2022. Natural ingredients such as tea extracts are significantly employed in cosmetic and personal care products owing to their beneficial properties. The antioxidant-rich qualities of tea-based skin care products help fight free radicals and environmental stressors, resulting in healthier and more radiant skin. Tea extracts are also well-known for their calming and anti-inflammatory properties, which makes them ideal for a variety of skin types—including sensitive and acne-prone skin. The antioxidant properties of tea extracts enhance skin appearance while preventing aging. Vitamin E, present in tea extracts, contributes to hydration, cell regeneration, and nourishment.

With rising popularity and demand, advanced skincare products infused with tea extracts are being introduced by manufacturers who are constantly improving their compositions. For example, in 2021, Nature's Sunshine Products launched a clean beauty line—l'amara—which uses green tea extract and soothing algae. Similarly, Ustawi debuted the Green Tea Matte Finish Moisturizer in the same year. The demand for tea extracts has also increased among cosmetic manufacturers owing to the expanding influence of social media, growing demand for natural products, and rising promotion of tea-based skincare products. Thus, the growth of the cosmetic and personal care industry is projected to open lucrative growth opportunities for the tea extracts in the personal care industry over the forecast period.

On the contrary, disruptions in supply chain hamper the growth of Asia Pacific tea extracts market.

Based on type, the Asia Pacific tea extracts market is segmented into green tea, black tea, oolong tea, and others. The green tea segment held 52.2% market share in 2023, amassing US$ 599.44 million. It is projected to garner US$ 1,075.38 million by 2031 to register 7.6% CAGR during 2023–2031.

In terms of form, the Asia Pacific tea extracts market is bifurcated into powder and liquid. The liquid segment held 66.8% share of Asia Pacific tea extracts market in 2023, amassing US$ 766.67 million. It is anticipated to garner US$ 1,310.69 million by 2031 to expand at 6.9% CAGR during 2023–2031.

By application, the Asia Pacific tea extracts market is segmented into food and beverages, bakery and confectionery, dairy and frozen dessert, beverages, other food and beverages, dietary supplements, personal care and cosmetics, and others. The food and beverages segment held 32.1% market share in 2023, amassing US$ 368.22 million. It is projected to garner US$ 623.36 million by 2031 to register 6.8% CAGR during 2023–2031.

By category, the Asia Pacific tea extracts market is bifurcated into conventional and organic. The conventional segment held 76.4% market share in 2023, amassing US$ 877.30 million. It is projected to garner US$ 1,520.85 million by 2031 to register 7.1% CAGR during 2023–2031

By country, the Asia Pacific tea extracts market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia-Pacific. Our regional analysis states that the Rest of Asia-Pacific captured 35.5% share of Asia Pacific tea extracts market in 2023. It was assessed at US$ 408.01 million in 2023 and is likely to hit US$ 670.18 million by 2031, registering a CAGR of 6.4% during 2023–2031.

Key players operating in the Asia Pacific tea extracts market are Finlays, Botanic Healthcare Group, Martin Bauer GmbH & Co KG, Firmenich International SA, Givaudan SA, International Flavors & Fragrances Inc, Kerry Group Plc, Archer Daniels Midland Company, Sensient Technologies Corp, Kemin Industries Inc, Medikonda Nutrients, Virginia Dare Extract Co Inc, Lipoid-Kosmetik, Florida Food Products, and Dohler GmbH, among others.

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