Global Matcha Tea Market is expected to exhibit a strong 9.69% CAGR over the forecast period from 2019 to 2023, according to the latest research report from Market Research Future (MRFR). The global matcha tea market is mainly driven by the growing demand for its antioxidant-rich properties, which help consumers control their blood pressure, cholesterol, and weight. The global matcha tea market is given a thorough look over in the MRFR report, which uses the previous growth trajectory of the matcha tea market to compile and present the likely growth trajectory of the market over the forecast period. The major drivers and restraints affecting the global matcha tea market are also assessed in the report to provide readers with a comprehensive overview into the market’s growth dynamics.
Matcha tea is a type of green tea rich in vitamin C, zinc, selenium, magnesium, chromium, and antioxidants. Matcha is even richer in antioxidants and vitamin C than regular green tea, which has made it a consumers’ favorite in several parts of the world. The presence of zinc, magnesium et al. in matcha tea is a vital driver for the market, as these elements help keep blood pressure problems at bay, apart from providing stronger immunity and better weight control. The growing demand for natural products that can help users ward off lifestyle problems such as obesity, blood pressure, and diabetes is likely to be a major driver for the global matcha tea market.
Matcha tea originated in Asia Pacific; as a result, it is widely consumed in Eastern Asia, which is likely to remain the major regional market for matcha tea over the forecast period. However, the demand for matcha tea is also increasing in Western economies such as the U.S., Canada, and the UK. This is likely to remain a key driver for the global matcha tea market over the forecast period.
Leading players in the Matcha Tea Market include Marukyu Koyamaen Co. Ltd., ITO En. Ltd., Aiya Co. Ltd., AOI Tea Company, The Unilever Group, Tata Global Beverages Ltd., and Nestle SA. Major players in the global matcha tea market are currently focusing on developing matcha tea in an environmentally sustainable manner. Tea farming is a major source of income for East Asian farmers, which is likely to give numerous companies an opportunity to prosper in the matcha tea market in the coming years. Numerous smaller companies are also likely to join the global matcha tea market in the coming years due to the market’s increasingly lucrative economic prospects. This could lead to some merger and acquisition activity in the matcha tea market in the coming years, as larger players look to keep the competition in their control.
In October 2019, Nestle launched a limited edition of matcha-flavored KitKat chocolates in several key GCC markets, including the UAE, Saudi Arabia, and Kuwait.
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Global Matcha Tea Market is segmented on the basis of application, formulation, distribution channel, and region. By application, the global matcha tea market is segmented into beverages, nutraceuticals, and others. The beverage segment holds the dominant share in the global matcha tea market and is likely to remain the dominant revenue generator over the forecast period. However, the nutraceuticals segment is expected to exhibit a higher CAGR over the forecast period. By formulation, the global matcha tea market is segmented into plain and flavored. The flavored segment is likely to remain the largest segment of the market over the forecast period.
By distribution channel, the store-based segment is likely to retain its dominance over the non-store-based segment in the global matcha tea market over the forecast period.
Asia Pacific is likely to dominate the global matcha tea market over the forecast period, exhibiting a CAGR of 9.69% CAGR. However, Europe is likely to be the fastest growing regional market for matcha tea, exhibiting a stellar 10% CAGR over the forecast period.
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