Rising purchasing parity of consumers coupled with changing life style has increased the consumption of tea polyphenols over the last few years and it is anticipated to fuel the market growth in near future. Growing health concerns over the last few years resulted in increasing demand for green tea and other nutraceutical products, which in turn expected to drive tea polyphenols market over the forecast period. Innovation in functional beverage’s industry owing to rising demand for healthy drinks is anticipated to drive the market growth over the next six years. Growing dietary supplements demand coupled with increasing awareness towards the health benefits from tea polyphenols consumption is anticipated to complement the market growth over the foreseeable period. Tea polyphenols have ability to cure health problems like obesity, heart diseases, cancer and diabetes. These advantageous factors are likely to augment the market growth in near future.
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Product Insights
All tea polyphenols are extracted from the same plant called Camellia Sinensis but processed differently in order to achieve required level of oxidation. Green tea polyphenols are zero oxidized leaves, black tea polyphenols are completely oxidized tea leaves, whereas oolong tea polyphenols are semi oxidized.
Green tea polyphenols market is the most dominant product segment followed by oolong and black tea polyphenols. Increasing obesity and cancer patient during the last few years has been driving green tea polyphenols market at a good pace, and the trend is expected to continue over the forecast period. Oolong tea polyphenols are consumed mainly to avoid diabetes which is the most threatened disease over the last five years. Increasing diabetes patients across the globe is anticipated to increase the consumption of oolong tea polyphenols which in turn expected to drive the market over the forecast period.
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Application Insights
Functional foods and beverages was the largest and fastest growing application segment for tea polyphenols market over the recent past, and the trend is expected to continue over the forecast period. Increasing demand for functional foods and health drinks has been driving tea polyphenols market in this sector. In addition, growing health concerns and rising disposable income of consumers motivating them to spend more on health beneficial products which is expected to boost the market demand over the forecast period. Dietary food supplements industry is the second major market for tea polyphenols owing to increasing health problems like obesity, diabetes and heart diseases.
Regional Insights
Asia Pacific was the largest market for tea polyphenols over the recent past in terms of production and consumption. Owing increasing population in countries such as China and India, the demand for tea polyphenols is expected to grow at a good pace over the forecast period. Increasing disposable income and changing life styles of consumers in this region coupled with growing concern towards health is also a key driving factor for tea polyphenols market.
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North America is expected to witness significant growth on account of increasing demand from foods & beverages industry in this region. However, Europe has been witnessing sluggish growth over the past few years due to some side effects of green tea polyphenols consumption.
Competitive Insights
Tea polyphenols market is highly concentrated with less number of manufacturing companies leading the global market of tea polyphenols over the last decade. Scope for new entrants in tea polyphenols market is very less, so there is a huge scope for existing players to increase their capacity levels to fulfill the increasing demand across the globe over the forecast period. Additionally, improving R&D activities by major key players to use tea polyphenols in medical sector is anticipated to open new opportunities to this market over the next six years. Some major players in this market include Ajinomoto OmniChem, Amax NutraSource Inc., Indena Spa and Guilin Layn Natural Ingredients Inc.
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