Black Tea Extracts Market Size To Reach $10.24 Billion By 2030

Black Tea Extracts Market Growth & Trends

The global black tea extracts market size is expected to reach USD 10.24 billion by 2030, registering a CAGR of 3.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market for black tea extracts is anticipated to grow with the rising awareness among population regarding the health benefits offered by the product. In addition, rising groceries, retail stores, and supermarkets, which offer the products, are expected to trigger the market growth.

Black tea extracts are used in dietary supplements owing to the superior concentration of vitamins and minerals. The product contains antioxidants and polyphenols, which are responsible for improving metabolism and inhibiting the bacterial growth. It is also effective in reducing lifestyle induced diseases such as diabetes and blood pressure as it helps in reducing the stress levels in the body.

Black tea extracts industry is anticipated to grow on account of efforts undertaken by manufacturers to engage in backward integration coupled with the adoption of contract farming as a tool to improve the yield. The adoption of contract farming aids in stabilizing the fluctuating market conditions and changing consumption patterns, which in turn is expected to aid the black tea extracts market growth. In addition, manufacturers are inclined toward using innovative extraction methods such as UAE, MAE, and SCFE to increase the concentration of polyphenols in the extract in an attempt to increase the customer base.

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Black Tea Extracts Market Report Highlights

• The powder form dominated the market and accounted for a revenue share of 44.3% in 2023. The demand for powdered black tea extracts in the cosmetics industry is high owing to the rising usage of organic & personal care products.

• Hot water soluble accounted for the largest revenue share of 57.1% in 2023. Hot water soluble is convenient for creating instant hot tea beverages.

• The beverages segment dominated the market with a revenue share of 33.0% in 2023. The consumers are highly interested in versatile and convenient beverage options and black tea extracts serve that purpose.

• The functional food segment is projected to grow at a significant CAGR of 3.6% over the forecast period. Black tea extracts have a variety of health benefits that complements the functional food industry.

• Asia Pacific black tea extracts market dominated the market with a revenue share of 65.6% in 2023. Countries in the region such as China and India have a rich history of consuming black tea, giving them familiar of its possible advantages.

Black Tea Extracts Market Segmentation

Grand View Research has segmented the black tea extracts market on the basis of on form, product, application and region:

Black Tea Extracts Form Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Powder

• Liquid

• Encapsulated

Black Tea Extracts Product Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Hot Water Soluble

• Cold Water Soluble

Black Tea Extracts Application Outlook (Revenue, USD Million, 2018 - 2030)

• Functional Food

• Beverages

• Cosmetics

• Beauty Supplements

• Others

Black Tea Extracts Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • Saudi Arabia

  • South Africa

List of Key Players in the Black Tea Extracts Market

• Synthite Industries Ltd.

• Martin Bauer Group

• James Finlay Limited

• AVT Naturals

• Phyto Life Sciences P. Ltd.

• Amax NutraSource, Inc.

• Teawolf LLC.

• Cymbio Pharma Pvt. Ltd

• BLUEBERRY AGRO

• The Archer-Daniels-Midland