In a recent study, ESOMAR-certified consulting firm Future Market Insights (FMI) projects a favorable demand outlook for the global matcha market during the forecast period 2021 to 2031. The global matcha sales are poised to total US$ 2.28 Bn in 2021, exhibiting a stellar 10.2% CAGR.
Increasing applications of matcha in diverse end-use sectors such as food and beverage, personal care, and foodservice are driving sales in the market. Apart from this, growing preference for non-alcoholic beverages among millennials is providing tailwinds to market sales.
Matcha is termed as a 'superfood' in the food industry as it is packed with vital nutrients and minerals. Loaded with antioxidants, vitamin A and C, and minerals such as potassium, calcium, and magnesium, matcha is becoming a frequently used product in households.
Health benefits derived from matcha are key factors propelling sales in the market. Matcha can potentially combat cholesterol, liver damage and improves the calorie-burning process, making it an ideal choice of beverage among weight watchers.
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In addition, matcha has anti-inflammatory properties that catechins that help in countering hormonal acne. This factor is driving applications of matcha in skincare and personal care products such as moisturizers, lotions, cleansers, and serums, further augmenting the market growth.
Growing consumers' preference towards plant-based and clean ingredients in packaged food products such as snacks, ready-to-drink beverages, and desserts are encouraging product innovations in the matcha market.
As per FMI's analysis, the U.S. is anticipated to emerge as a lucrative market. Rising demand for plant-based and organic products, coupled with presence of leading players in the country will augment market growth.
- Sales of culinary grade matcha are estimated to remain high through 2031, owing to increasing applications in food and beverages.
- Organic match will emerge as the most preferred type.
- Foodservice segment is anticipated to dominate the end-use segment, due to high demand for matcha-based dishes and beverages in restaurants and cafes.
- Stand-up pouches will account for the maximum market share, due to convenient and easy storage features.
- Indirect sales will hold maximum market share in terms of sales channel type.
- The U.S. is anticipated to experience high demand in the matcha market, owing to growing consumer preference towards plant-based food products. As per the market survey, North America is expected to exhibit a positive 8.7% CAGR through 2031.
- The U.K. will exhibit high demand for matcha-based products, due to increasing applications in personal care products and household consumption. FMI projects the European matcha market to grow at a healthy 9.4% CAGR.
- Being one of the leading exporters of matcha tea, Japan will emerge as an attractive market, with innovative product developments and key players in the market.
- South Korea is expected to account for 4.7% of the total market share.
ITO EN Ltd., Tata Global Beverages Ltd., Starbucks Corporation, The Hain Celestial Group Inc., Unilever PLC, Aiya-Co. Ltd., The AOI Tea Company, McCormick & Company, Inc., Matchaah Holdings Inc., The Republic of Tea, Clearspring Ltd., Andrews & George Company Limited, Green Foods Corporation, Marukyu-Koyamaen Co. Ltd., and Foodchem International Corporation are some leading players profiled by FMI.
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Leading players comprise ITO EN Ltd., Tata Global Beverages Ltd., Starbucks Corporation, Unilever PLC, McCormick & Company, Inc., holding 15-20% of the total market share.
Key companies operating in the global matcha market are investing in acquisitions and collaborations to expand their product offerings in various regions. Apart from this, product innovations and launches will be prominent growth strategies among leading players through 2031. For instance:
- In July 2021, Starbuck Coffee Company partnered with Caribbean Coffee Traders Limited (CCTL) to open its first store in the island of Barbados. The new coffeehouse opened at Haggatt Hall in St. Michael introduces customers to the Starbucks coffeehouse experience by offering a variety of aromas and locally sourced products with a signature Starbucks twist.
- In October 2020, Canadian private equity firm Clearspring Capital Partners acquired a majority stake in Regal Confections, a Canadian distributor of global sweets and chocolate confectionery brands. The acquisition will potentially strengthen Regal's product portfolio and aid the company's growth.
Matcha Market by Category
By Grade Type:
By Nature Type:
By End-Use Type:
- Food Processing
- Beverage Processing
- Personal Care
- Tea Shops/Cafe
By Packaging Type:
- Bulk Bags
- Stand Up Pouches
By Sales Channel Type:
- Direct Sales
- Indirect Sales
- Convenience Stores
- Specialty Stores
- Online Retailing
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Key Questions Answered in the Report
- What is the current matcha market value?
The global matcha market is forecast to reach US$ 2.28 Bn in 2021.
- At what rate did the matcha market grow between 2016 and 2020?
The global matcha market experienced healthy growth between 2016 and 2020, registering a positive 8.4% CAGR.
- What are the key trends driving matcha sales?
Growing preference for non-alcoholic beverages among millennials, coupled with increasing applications of matcha in skincare and food & beverage industries are driving matcha sales.
- What will be the matcha market share in Europe?
The European matcha market is poised to expand at an impressive 9.4% CAGR.
- What is the current market share of South Korea in the global Matcha market?
South Korea is anticipated to hold 4.7% of the global matcha market share.
The post Worldwide Market of Matcha is Expected to Grow at a Steady CAGR of 10.2% During -2031 appeared first on Future Market Insights.
Original Source of the original story >> Worldwide Market of Matcha is Expected to Grow at a Steady CAGR of 10.2% During -2031
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