Matcha product manufacturers will focus on widening the scope of applications for matcha to include food and personal care products to appeal to a wider consumer demographic during the pandemic.
DUBAI, UAE / ACCESSWIRE / July 29, 2020 / Future Market Insights: The matcha market is expected to witness steady demand for the foreseeable future, despite the threat of the coronavirus outbreak. Matcha is known among users for its polyphenol ingredients, which have proven to have a positive impact on lung function. As the coronavirus largely affects the respiratory system, the demand for matcha nutraceuticals and food products is likely to rise for the duration of the pandemic.
"Matcha comprises high levels of vitamins, minerals, antioxidants, and fibers which aids consumers in weight loss and healthier metabolism. Consequently, stronger demand for functional foods during the coronavirus outbreak will support demand for matcha during and after the pandemic," says the FMI analyst.
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Matcha Market - Primary Takeaways
- Pan-fried matcha is gaining popularity, owing to extensive applications in tea products to boost flavor attributes.
- Culinary grade matcha is witnessing faster growth, aided by use in bakery and instant snack products.
- Asia Pacific is a leading market for matcha, aided by high levels of production and exports in China and Japan.
Matcha Market - Growth Factors
- Growing awareness about chronic ailments such as heart disease, cancer, obesity, and diabetes is contributing to matcha consumption.
- Niche applications of matcha in the personal care industry are creating key growth opportunities.
Matcha Market - Major Constraints
- Strict government policies with regards to the production of matcha, particularly in Japan restrict profitability of the industry.
- High dependence on climate conditions often results in price volatility, which hinders market growth.
The Projected Impact of Coronavirus
The matcha industry is expected to be moderately impacted by the coronavirus pandemic. The risk of contagion has resulted in a shortage of workers in the matcha cultivation industry. Lockdown restrictions have impacted harvests in 2020, which will hurt supplies in the short term. On the other hand, the nutritional and immunity boosting benefits of matcha products will help to sustain demand throughout and after the crisis period.
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Competition Landscape
The matcha market comprises players including but not limited to The Republic of Tea, ITO EN Ltd., Matchaah Holdings Inc., Tata Global Beverages Ltd., McCormick & Co. Inc., Starbucks Corp., The AOI Tea Company, Hain Celestial Group Inc., and Unilever plc.
Market players are investing in the development of new, novel products in the nutraceutical, food, and personal care sectors. In addition, cultivation of organic matcha will also gain prominence in the near future.
For instance, Gion Tsujiri has collaborated with Toshi Yoroizuka and Mister Donut, to create a range of matcha donuts for consumers in Japan. Z Natural Foods has unveiled a new organic matcha green tea latte powder. Further, Sephora has revealed a range of 11 matcha-based personal care products including lip balms, face masks, and shampoo.
More About the Study
The FMI study provides detailed insights on matcha market. The market is broken down in terms of grade (ceremonial, classic, café, and culinary), nature (organic and conventional), end use (food processing, beverage processing, personal care, food service, institutional, and household), packaging (bulk bags, cartons, sachets, standup pouches, and tins) and sales channel (direct and indirect sales) across eight key regions (North America, Latin America, Western Europe, Eastern Europe, China, Japan, South East Asia & Rest of Asia Pacific, and MEA).
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SOURCE: Future Market Insights