Matcha Products Market Size 2020- Popularity and Emerging Trends in the Market
Market Overview
Matcha
products are powders derived from processed green leaves and grown in China and
Japan. It contains high levels of antioxidants, minerals, amino acids, and
vitamins. The global matcha products market report by Market Research Future
(MRFR) contains insights on the various ups and downs on the industry as well
as trends and opportunities for the period of 2019 to 2024 (forecast period).
The outbreak of the COVID-19 virus and its impact has been discussed in the
report.
Market Scope
The
Global Matcha Products Market is poised to expand at 7.3% CAGR over the
forecast period. It was valued at USD 3.2 billion in 2018. The shift from tea
to other applications such as foods, beverages, bakery items, and others can
provide scope for growth to the market. Health benefits of consumption of
matcha and huge prevalence of lifestyle diseases can bode well for the market
and drive sales. The increasing wave of health-consciousness can facilitate
market growth.
The
outbreak of the COVID-19 pandemic is likely to fuel sales of matcha products as
consumers stay indoors. In addition, efforts by customers to enhance their immunity
levels can bode well for the market. Potential of matcha to lower stress levels
and improve brain functioning can lead to procurement of matcha-based foods and
beverages.
Segmentation
The
Global Matcha Products Market has been segmented by grade and application.
By
grade, the global matcha products market has been bifurcated into ceremonial,
standard, and culinary. The standard grade is expected to gain revenues in the
market due to affordable prices of its products and its heavy consumption as
compared to ceremonial.
Based
on application, the global matcha products market has been classified into
beverages, sweet & savory snacks, bakery & confectionery, dairy &
frozen desserts, and others. Beverages and bakery & confectionery
applications can evoke a huge demand in the market. The penchant of customers
for trying exotic foods and a palate for new tastes can bode well for the
market till the end of the forecast period.
Regional Analysis
The
Global Matcha Products Market has been studied with regards to four key
regions—North America, Europe, Asia Pacific (APAC), and Rest-of-the-World
(RoW).
APAC
is expected to lead the global matcha products market due to traditional use of
matcha for tea in China and Japan. Huge level of anti-oxidants can drive
customers towards purchasing these items. In addition, prevalence of diseases
due to lifestyle changes will lead to huge sales of matcha due to its health
benefits. Consumption of low-calorie beverages as well as establishment of
cafes and restaurants which serve matcha products lead to a bullish growth for
the market in the region.
North
America is set to grow at a rapid pace during the forecast period due to a
sizeable vegan population and inclination towards healthy products. The move by
various cafes and beverage chains attempting to capitalize on the trend of
health-consciousness has launched matcha-based items. High awareness levels may
also play a vital role in the global matcha products market.
Competition Outlook
Mizuba
Tea Co., Ippodo Tea Co., ITO EN, LTD, AIYA, Midori Springs Ltd., Andrews &
George Co Ltd, Kissa Tea GmbH, TEAJA Organic, Matcha Maiden, and The AOI Tea
Company are key players of the global matcha products market.
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