iCrowdNewswire Jan 13, 2021 2:42 PM ET
Asia Pacific is the leading market for matcha products and is expected to grow substantially over the forecast period 2017-2024. In Asia Pacific region, Japan and China are the major consumers of matcha products and matcha-based beverages. High demand in the beverage industry for an alternative of conventional tea has increased the demand for matcha products in this region.
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Furthermore, stringent regulations for cultivation of tea leaves to manufacture matcha powder and high processing cost is expected to hinder the growth rate of the market in upcoming years. Considering these factors, Asia Pacific is projected to grow at a CAGR of 7.0 % during the forecast period 2017-2024.
Furthermore, the market is projected to propel at a high CAGR during the forecast period based on its diverse and potential application in beverage and nutraceutical industry.
Major Key Players
The key players profiled in the Matcha Products Market are AIYA (Japan), AOI Tea Company (Canada), Ippodo Tea Co., Ltd (Japan), Encha (Japan), TEAJA Organic (Canada), Midori Spring LTD. (Japan), ITO EN, LTD. (Japan).
The global matcha products market is segmented on the basis of application, which includes food, beverage, cosmetic & personal care, nutraceuticals, others. Among all, beverages show a high share followed by food and nutraceuticals. Increased purchasing power and high demand for nutrient rich beverages are the driving factors for this segment to grow.
In Asia Pacific region, Japan and China are the major consumers of matcha products and matcha-based beverages. Moreover, North America region is expected to grow in the matcha products market during the forecast period 2017-2024. Owing to rising population and consumer shift towards nutrient-rich food and beverages. Furthermore, Australia, India & Singapore are expected to show a high market share of the global matcha products market in Asia Pacific region.
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