The global White Tea Extract market is expected to reach a market valuation of US$ 1,321 million by 2023, recording a CAGR of 6.1% from 2023 to 2033.
Young Camellia sinensis plant leaves and buds are used to make white tea extract. The processing needed for white tea extract is less compared to green and black tea extracts. Together with polyphenols, the white tea extract also contains tannins, flavonoids, and fluorides. These extracts provide a variety of benefits, including antibacterial and antioxidant characteristics. They also lower blood pressure, blood lipids, blood sugar, and blood sugar levels while boosting immunity. The market for white tea extract is seeing increased demand as people place more emphasis on eating and drinking healthily.
| Attribute | Details |
|---|---|
| White Tea Extract Market Size (2023E) | US$ 1,321 million |
| White Tea Extract Market Projected Size (2033F) | US$ 2,381 million |
| Value CAGR (2023 to 2033) | 6.1% |
| Top 3 Countries Marketing Share | 62% |
The leading market players are concentrating on product innovation to give consumers a wide variety of white tea, which might assist increase the market for white tea extract, as a result of the rising consumer demand for tastes and textures.
In our new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights into key factors driving demand for White Tea Extract.
| Market Statistics | Details |
|---|---|
| Jan–Jun (H1), 2021 (A) | 6.0% |
| Jul–Dec (H2), 2021 (A) | 5.8% |
| Jan–Jun (H1),2022 Projected (P) | 5.7% |
| Jan–Jun (H1),2022 Outlook (O) | 6.1% |
| Jul–Dec (H2), 2022 Projected (P) | 6.0% |
| Jul–Dec (H2), 2022 Outlook (O) | 5.8% |
| Jan–Jun (H1), 2023 Projected (P) | 5.4% |
Growing consumer interest in the health benefits that might enthrall a sizable customer population internationally is a major driver anticipated to fuel revenue expansion in the global market over the ensuing years. A few other factors that are anticipated to boost demand for these extracts globally include rising occurrences and prevalence of chronic diseases like diabetes, cancer, etc., as well as rising usage of white tea extract in therapeutic application in the pharmaceutical and cosmetic industries.
However, some of the key issues that may impede the expansion in terms of revenue in the target market are the availability of substitutes on the market and product recalls because of the inclusion of toxic ingredients.
Since that white tea extract is an organic, non-GMO product that has a number of health benefits that can appeal to a sizable customer base, demand for it may rise in the future. Consumers are focusing on utilizing organic and non-GMO products that offer protection from harmful microorganisms and aid in the improvement of their immunity as a result of their increased awareness of microbial diseases and the causes of those diseases.
The immune system may be strengthened by white tea extract's antioxidant and antibacterial properties, which also assist defend against numerous germs and viruses. The market for white tea extract may grow as a result of the consumers' potential preference for using white tea.
The region with the highest CAGR is anticipated to be Asia Pacific during the projection period. While disposable income is growing, consumer behavior is changing. This is expected to remain a strong economic driver. The rapid expansion of online distribution channels and growing consumer health consciousness are anticipated to boost regional product demand even further in the upcoming years. Consumer behavior shifts and rising disposable income, particularly in developing nations like China and India, are anticipated to continue to be positive growth drivers.
In 2021, Europe dominated the market. In industrialized economies like the United Kingdom and Germany, it is anticipated that consumer awareness of personal hygiene and health would increase. Also, consumers in the area have very significant spending power and favor luxury goods while making purchases. SPECIAL and KUSMI TEA have introduced white tea capsules. Also, consumers in the area have very significant spending power and favor luxury goods while making purchases. KUSMI TEA and SPECIAL.T introduced white tea capsules in March 2019.
The forecast term is expected to have the fastest CAGR for cosmetics and toiletries. It is anticipated that white tea's anti-inflammatory and antioxidant characteristics will increase its use in skincare products. Among the well-known white tea-based skincare companies are Kiss My Face, Giovanni Cosmetics, and Korres Natural Products. Premium white tea toiletry items are offered to customers by renowned hospitality organizations like Marriott International, Inc. In addition to candles, air fresheners, and oil & smell diffusers, they also provide white tea formulas.
In terms of revenue, conventional products had the biggest market share. These items are reasonably priced and come in a variety of gentle, mild, and delicate scents, including fruity and flowery aromas like citrus, melon, grassy, peach, and apricot as well as vanilla, honey, herbs, and chocolate. Furthermore, over the projected period, the conventional product segment is anticipated to be driven by low pricing and easy access to the products through various offline channels, including supermarkets and grocery shops.
White Tea Extract market is only slightly fragmented. The major market players are concentrating on expansion tactics like mergers and acquisitions and extending their distribution networks to increase their market position. The manufacturers in the market used a variety of competitive methods, including product releases, free-from claims, and organic and natural origin claims.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ million for Value and Metric Ton for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia, South Asia; Oceania; and the Middle East and Africa |
| Key Countries Covered | United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC countries, North Africa, South Africa, others. |
| Key Segments Covered | Application, Variety, Flavor, and Region |
| Key Companies Profiled | Zhejiang Tea Group Co. Ltd.; Shaanxi Iknow Biotechnology Co. Ltd.; Vicony Teas Company; Changsha Botaniex Inc.; Carrubba INC; Wollenhaupt; Lanzhou Waltlets Biotech co. Ltd; Arihant Tea Company; Solanki Tea Co. Private Limited |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The White Tea Extract Market is valued at US$ 1,321 million for 2023.
The White Tea Extract Market valuation is expected to be US$ 2,389 million in the year 2023.
The value of CAGR for the White Tea Extract Market is estimated to be 7%.
The cosmetics industry would garner significant market value share by 2023.
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White Tea Extract Market
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