At 6.1% CAGR, North America Tea Extracts Market is Projected to be Worth US$ 1,699.15 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the North America tea extracts market was valued at US$ 1,055.04 million in 2023 and is expected to reach US$ 1,699.15 million by 2031, registering a CAGR of 6.1% from 2023 to 2031. Wide application scope of tea extracts and rising demand for natural ingredients in food and beverages are among the critical factors attributed to drive the North America tea extracts market growth.

Tea extracts have a wide range of applications in various end-use industries such as food and beverages, pharmaceuticals and nutraceuticals, personal care and cosmetics, and animal feed, among others. Tea extracts are used as natural flavorings, colorants, and preservatives in food and beverage products. Consumers increasingly seek clean-label products, driving the demand for natural ingredients such as tea extracts in food products. Also, there is an increasing demand for various herbal and botanical extracts in the beverage industry. Further, tea extracts are valued for their medicinal properties and health benefits in the pharmaceutical and nutraceutical industries. Tea extracts are considered important owing to their rich concentration of bioactive compounds, including polyphenols, catechins, and flavonoids. These compounds offer numerous health benefits, making tea extracts a popular ingredient in dietary supplements and pharmaceutical products aimed at improving overall well-being. As a result, various manufacturers are launching ingredients in combination with green tea extract for the nutraceutical industry. For instance, in October 2023, Activ'Inside, the nutraceutical ingredient manufacturer in the US, launched ImrpovD3—a new ingredient formulated by vitamin D and green tea extract complex. In addition, in the cosmetics and personal care industry, tea extracts are used in self-grooming products, cosmetics, and other personal care products. Tea extracts are effective in protecting skin from environmental damage, soothing irritation, and reducing the appearance of lines and wrinkles. As a result, tea extracts are gaining popularity in personal care products as a functional ingredient. Tea extracts are also utilized in the animal feed industry to improve the overall health and performance of livestock and pets. The demand for natural and organic animal feed ingredients is driven by the need for sustainable and nutritionally dense feed options.

Thus, the wide range of applications of tea extracts across various end-use industries drives the tea extracts market.

On the contrary, disruptions in supply chain hamper the growth of North America tea extracts market.

Based on type, the North America tea extracts market is segmented into green tea, black tea, oolong tea, and others. The green tea segment held 45.8% market share in 2023, amassing US$ 483.52 million. It is projected to garner US$ 802.99 million by 2031 to register 6.5% CAGR during 2023–2031.

In terms of form, the North America tea extracts market is bifurcated into powder and liquid. The liquid segment held 62.9% share of North America tea extracts market in 2023, amassing US$ 664.13 million. It is anticipated to garner US$ 1,044.51 million by 2031 to expand at 5.8% CAGR during 2023–2031.

By application, the North America 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 30.6% market share in 2023, amassing US$ 323.15 million. It is projected to garner US$ 501.28 million by 2031 to register 5.6% CAGR during 2023–2031.

By category, the North America tea extracts market is bifurcated into conventional and organic. The conventional segment held 71.6% market share in 2023, amassing US$ 755.14 million. It is projected to garner US$ 1,200.60 million by 2031 to register 6.0% CAGR during 2023–2031

By country, the North America tea extracts market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 77.5% share of North America tea extracts market in 2023. It was assessed at US$ 817.13 million in 2023 and is likely to hit US$ 1,309.67 million by 2031, registering a CAGR of 6.1% during 2023–2031.

Key players operating in the North America 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.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com