Matcha Tea Market Overview
Matcha tea is a form of green tea made from young tea leaves. Matcha tea has various health benefits; it reduces weight, decreases cholesterol levels, cures headaches and body pain, and prevents the chances of heart attacks. Due to these, the consumers’ inclination towards this tea is driving the Matcha Tea Market.
The rise in focus on adopting a healthy lifestyle with multiple health benefits is a chief driver of the market. The market is noticing rapid growth due to its health benefits. This factor is expanding the market’s growth rate. The tea helps lower cholesterol levels. Therefore, it is recommended by health physicians to their customers for daily consumption. This is propelling the market’s growth in the forecast period. Matcha tea also has a large product variety, leading customers to a wide selection. The change in lifestyle of the present generation is also driving the matcha tea market share.
The COVID-19 pandemic has shown a positive effect on the market. The awareness among the people to live a healthy life has driven the market in this period. Their inclination toward healthy beverages, including matcha tea, has propelled the market. The increased demand for matcha tea positively impacted the market growth during the global health crisis. The demand will remain constant until the forecast period.
The Matcha Tea Market will obtain a CAGR of 7.88 % and a value of USD 5.23 billion by 2030 in the forecast period.
Competitive Analysis
The role of the government bodies in almost every country is estimated to be valuable to restore normalcy and create a growth outlook. The earmarked budget for innovation is set to rise with companies realizing the impact of having a progressive product assortment. The development of novel production processes is likely to enhance market strength further. The market price is estimated to derive momentum from improvement in operating systems within the market. As the market players understand the advantages of a lean operation framework, the market is estimated to transform considerably. The stabilization of demand and supply forces is estimated to open up opportunities for expansion in the forecast period. The forging of novel international trade relations is estimated to bolster the market's capabilities in the upcoming period. The fast-paced adoption of online services and selling platforms is estimated to reinforce market progress in the upcoming years. The consolidation of market competition is predicted to usher in a new development phase in the impending period.
The renowned companies in the matcha tea market are Nestlé SA (Switzerland), The Unilever Group (U.K.), Tata Global Beverages Ltd (India), Aiya Co. Ltd. (Japan), ITO EN, LTD. (Japan), AOI Tea Company (U.S.), and Marukyu Koyamaen Co. Ltd. (Japan).
Market Segments
The matcha tea market research is segregated into application, form, type formulation, and distribution channels.
The application fragment comprises regular tea, food, cosmetics, matcha beverages, and personal markets. The beverage segment dominates the market.
The form segment is categorised into instant premixes, ready-to-drink, and powder forms.
The type segment has traditional, sweetened, and unsweetened options.
The formulation segment is divided into plain and flavored. The flavoured segment holds the largest market share of the matcha tea market.
The distribution channel is comprised of store-based distribution channels and non-store-based distribution channels. The store-based distribution channels have specialty stores, hypermarkets, supermarkets, and many others.
Regional Analysis
According to its geographical status, the matcha tea market covers regions such as the European region, Asia-Pacific, the North American region, Latin America, the Middle East, and the rest of the world.
The Asia Pacific region occupies the largest matcha tea market share value, and it is estimated to obtain a high CAGR in the forecast period. The second-largest market share is captured in the European region, and it is the fastest-growing region. Latin America captures the third-largest market share due to higher growth opportunities and health awareness. It is propelling the regional market, followed by the North American region and the Middle East, respectively.
Industry News
In April 2022, the Spring tea harvest season started at a matcha producing base in Fusheng Township of Shaoxing. Since 1993, the township has cooperated with Japanese enterprises to introduce steamed tea and matcha production lines. The tea company in Fusheng Township owns 10,000 mu of standardized tea gardens with a matcha output of 800 tonnes, which helped the 500 local farmers increase their income.
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