Market Scenario
Market Research Future (MRFR) asserts that the global matcha products market is estimated to register a CAGR of 7.50% during the forecast period (2022-2030). The augmenting demand for high-quality health drinks is triggering the demand for matcha products across the globe. Matcha is referred to as a fine powder of green tea which is extensively used in the beverage industry for the manufacture of smoothies and green tea. They are rich in antioxidants and helps to cure chronic diseases like obesity and diabetes, which has further inclined the consumers towards consuming matcha products.
Matcha products market size is anticipated to reach USD 3.90 billion by 2030, registering a CAGR of 7.50% during 2022-2030.
Market Potential and Pitfalls
The market’s course is chiefly directed by the superior health benefits along with consumer acceptance for matcha products. These products are rich in antioxidants and help to cure chronic diseases like obesity and diabetes, which has further triggered its demand across the globe. Matcha products have a wide range of product applicability which makes them an important ingredient in nutraceuticals and beverage sector. They are also used as a replacement of conventional tea in the beverage industry which has intensified its demand over the years. Matcha products are also extensively used in the nutraceuticals industry to manufacture supplements rich in antioxidants. This further helps to cure gastrointestinal issues and reduce stress. Moreover, due to the augmenting demand from the cosmetic industry, matcha based face packs, creams, and face wash are attracting a huge consumer base which is contributing to the market growth across the globe.
Health benefits along with energy-boosting properties offered by the consumption of matcha products have increased its demand over the years. Adding a variety of flavours to the matcha tea is also driving a huge consumer base. Moreover, the easy availability of matcha tea products in supermarkets, retail shops, hypermarkets, and online stores have intensified their demand globally.
On the contrary, change in government policies and unfavourable climatic conditions in China and Japan are some of the top barriers considered to dampen the market growth throughout the appraisal period, thereby impacting the price trends.
Competitive Dashboard
The prominent global key matcha products market players comprises Ippodo Tea Co. Ltd (Japan), AOI Tea Company (Canada), AIYA (Japan), ITO EN LTD. (Japan), Midori Spring LTD. (Japan), Encha (Japan), and TEAJA Organic (Canada).
Regional Insights
Geographically, the matcha products market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Considering the global scenario, the matcha products market is dominated by the Asia Pacific region owing to the presence of economies such as China and Japan, who are considered as the major consumers of matcha-based beverages and matcha products. With the increased innovation of matcha products in the food industry, the region is likely to generate high revenues. Moreover, promotional activities and campaigns like seminars and workshops organized by several companies in order to increase their consumer base are benefiting the market growth in this region.
The North American region is likely to experience a significant growth rate owing to the consumer shift towards nutrient-rich food and beverages coupled with increased population. With the increased incidences of chronic diseases like diabetes, cancer, and obesity, the market is estimated to flourish in this region.
Europe is considered another prominent region for matcha products. Economies like Italy, Germany, France, and the UK are likely to contribute major revenue shares, thereby propelling the market growth in this region. Moreover, the rising use of matcha powder in cosmetic and personal care is anticipated to foster the market in this region.
Global Matcha Products Market: Segmental Analysis
The global matcha products market has been segmented based on grade, application, and distribution channel.
By mode of grade, the global matcha products market has been segmented into classic, ceremonial, culinary, and others. Among these, the classic grade is considered to occupy a major matcha products market share as this grade is rich in nutrients and has wide application in matcha and regular tea beverages. Moreover, the classic grade is cheaper compared to culinary and ceremonial grade which trigger its demand.
By mode of application, the global matcha products market has been segmented into beverage, food, nutraceuticals, cosmetic personal care, and others. Among these, the beverages segment experiences a high share in the market closely followed by food and nutraceuticals. The growth is credited to the rising purchasing power coupled with augmenting demand for beverages rich in nutrients.
By mode of distribution channel, the global matcha products market has been segmented into non-store based which includes e-commerce, and store-based which comprises specialty retailers, supermarkets/hypermarkets, convenience stores, and others. Among these, the sale of matcha products through store-based channels is higher owing to the one-stop shopping experience of the consumers.
Industry Updates
In April 2018, Pinkberry announced the launch of their latest green tea lemonade flavor yogurt. The tart flavor is featured as a combination termed A Perfect Matcha which is paired with premium toppings.
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