Saudi Arabia Tea Extracts Market
Saudi Arabia Tea Extracts Market Size to Expand at Steady CAGR of 7.9% during 2022–2028
Published | 29 November 2022
Saudi Arabia tea extracts market is flourishing because of an increasing demand for personal care industry, shift in consumer lifestyle, and rapid growth of tea extracts in the dietary supplements industries
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Saudi Arabia Tea Extracts Market size to grow at a steady CAGR of 7.9% during the forecast period between 2022 and 2028. Major factors for expansion of Saudi Arabia tea extracts market include increasing consumption of new flavors, affordability, and health benefits, such as weight loss associated with tea intake. Consumers' growing health awareness, rising disposable income, and increasing per capita health expenditure are also expected to drive the market expansion. The availability of natural compounds in black tea extracts, as well as the health advantages associated with it, is expected to drive the market expansion. The burgeoning demand for natural ingredient-based beverages coupled with the increasing popularity of ready-to-drink tea, sparkling beverages, and cold brew as leading manufacturers offer such drinks containing tea extracts is fueling the growth of the market. An increasing focus of key competitors on introducing innovative beverages containing tea extracts is further driving the market expansion during the forecast period. However, rising trend of coffee consumption and fluctuating prices of raw materials are anticipated to limit the growth of Saudi Arabia tea extracts market.
Saudi Arabia Tea Extracts Market – Overview
The tea extract market comprises businesses (organizations, sole traders, and partnerships) selling tea extracts to aid weight loss, blood sugar management, and disease prevention. Tea extracts are herbal supplements extracted from the tea plant such as Camellia Sinensis. It contains high levels of antioxidants, polyphenols, vitamins, and flavonoids. Tea extracts have been associated with numerous of health benefits, including improved heart, liver, and brain function, skin appearance, and a lower risk of cancer. The country's demand for ready-to-drink beverages is expanding due to changing consumer lifestyles and tight work schedules. For most users, tea is a stress reliever, offering a quick break from their hectic work schedules and lifestyle. Customers prefer ready-to-drink tea because it reduces time and allows them to enjoy it anywhere and at any time. As the demand for ready-to-drink tea and other beverages grows across Saudi Arabia, manufacturers of tea extracts will have profitable opportunities.
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Saudi Arabia Tea Extracts Market – By Type
By type, Saudi Arabia tea extracts market is segregated into Green Tea Extract, Black Tea Extract, Oolong Tea Extract, Lemon Tea Extract, and White Tea Extract segments. The black tea extract segment holds the highest market share during the period in analysis. Black tea extracts are made from powdered black tea leaves that are extracted from the Camellia Sinensis plant. Black tea is processed, fermented, and oxidized, providing a distinct color and flavor. Black tea is a good source of vitamin C, zinc, iron, and calcium. It also has anti-allergic and antiviral effects and is high in antioxidants, polyphenols, and theaflavins, all of which have significant health advantages. With an expansion in application base in numerous end-use industries, such as food, cosmetics, beverages, and medicines, the market size for black tea is expanding.
Impact of COVID-19 on Saudi Arabia Tea Extracts Market
Covid-19 adversely affected food and beverages market particularly tea extracts market due to stringent lockdown imposition, supply disruptions leading to reduced consumption across the region. Manufacturers face difficulties in the purchase of raw materials and the supply chain. The global trade was halted for a few months due to the pandemic, which hampered the international flow of tea extracts. The supply chain and production procedures were also a challenge for the end-use sectors of tea extracts. As a result, sales of tea extracts were temporarily curtailed during the pandemic. However, post COVID-19 pandemic is expected to boost the market expansion owing to consumers changing lifestyle and eating habits and high adoption of health beverages.
Major players operating in Saudi Arabia tea extracts market include Tata Consumer Product Limited, Unilever, Vahdam, Celestial Seasonings, Stash Tea, Bigelow Tea, Mighty Leaf Tea, Yogi, Dupont, and Archer Daniels Midland. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Saudi Arabia Tea Extracts Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Tea Extracts Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Saudi Arabia Tea Extracts Market, By Type (Green Tea Extract, Black Tea Extract, Oolong Tea Extract, Lemon Tea Extract, White Tea Extract); By Form (Powder, Liquid); By Category (Organic, Conventional); By Application (Food & Beverages, Pharmaceuticals, Cosmetics); By Distribution Channel (Store Based, Non-Store Based), Trend Analysis, Competitive Landscape & Forecast, 2022–2028
Publish Date: November 2022
Spurring demand for tea extracts in the dietary supplements and personal industries and growing shift in consumer lifestyle are projected to propel the expansion of Saudi Arabia Tea Extracts Market during the forecast period between 2022 and 2028.
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