Premier companies in global matcha tea market must expedite product launch initiatives, particularly in Asia Pacific on account of substantial consumption for stronger market foothold.
ROCKVILLE, MD / ACCESSWIRE / March 18, 2020 / Wellness teas have been mainstreamed owing to greater consumer predilection for healthier lifestyle. Matcha tea is another wellness tea which will garner significant impetus through the forecast period (2019-2025). The matcha tea market is projected to grow 1.6X through 2025. Middle-aged consumers remain the key demographic for matcha tea manufacturers, concludes the new Fact.MR report.
"While matcha tea remains preferred by middle-aged consumers, it continues to gain popularity among young females as well. Further, continual evolution of packaging forms such as ‘on-the-go matcha tea' is fostering the demand. Rising investments by existing players continues to strengthen the matcha tea market," reports Fact.MR.
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Matcha Tea Market - Key Findings
- Unsweetened matcha tea variant is projected to experience double-digit CAGR through 2025.
- Matcha tea in the form of stand up pouches remains highly sought after among consumers.
- Ginger, coconut, and chocolate are popular flavored variants of matcha tea.
- Gains in matcha tea market remain concentrated in Asia Pacific.
- North America will constitute significant market share during the forecast period.
Matcha Tea Market - Key Driving Factors
- Demand for wellness teas from patients suffering from chronic diseases such as diabetes is boosting the demand for matcha tea.
- Greater health awareness of consumers will continue to fuel the demand for matcha tea through 2025.
- Consumers in Asia Pacific prefer matcha tea over green tea which is complementing the market growth.
- Initiatives by key manufacturers to offer customized matcha tea is adding to its popularity.
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Matcha Tea Market - Key Restraints
- Global match tea market is still in nascent stage thereby limited knowledge of new entrants is hampering market growth.
- Low consumer awareness in developed regions will obstruct the growth of matcha tea market.
Competitive Landscape
Major players profiled in this Fact.MR study include, but are not limited to, Tata Global Beverages Ltd., Unilever PLC, ITO EN Ltd., Starbucks Corporation, Nature's Way Products, Tenzo Tea, Green Foods Corporation, Encha Organic Matcha, AOI Tea Company, and Vicony Teas Company. Majority of leading players opt for product launches to fortify their position in global matcha tea market. For instance, Starbucks introduced their new spring products collection (2019) and lower price range product called ‘matcha hack' (2018) as part of their key strategic agenda.
About the Report
This 170-page study offers in-depth commentary on the matcha tea market. The study provides compelling insights on the matcha tea market on the basis of product type (unsweetened, sweetened, flavored), nature (organic, conventional), packaging (cartons, sachets, stand up pouches, tins), sales channel (direct sales, indirect sales) across five regions (Asia Pacific, North America, Latin America, Europe, Middle East & Africa).
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SOURCE: Fact.MR