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Tea Polyphenol Market To Grow At A CAGR Of 7.4% From 2014 To 2020: Grand View Research, Inc.

San Francisco, March 16, 2016 (GLOBE NEWSWIRE) --

Global tea polyphenol market size was estimated at USD 209.3 million in 2012 and the market is expected to grow at a CAGR of 7.4% over the forecast period. Rising consumer awareness regarding the various advantages of the ingredient coupled with increasing health consciousness of consumers are key factors driving the market.

Tea polyphenols have become popular over the past few years as they help in prevention of various neurodegenerative diseases including Parkinson’s and Alzheimer’s. Their rising popularity has significantly resulted in the market demand at 4,850.0 tons in 2012 and is expected to be 9,169.9 tons by 2020.

Increasinggeriatric population in developed economies of Asia Pacific and Europe including UK and Japan coupled with rising demand for nutraceutical products such as tea polyphenols due to growing health concerns among consumers, is anticipated to drive demand. The global market is estimated to reach a value of USD 367.7 million by 2020.

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Green tea polyphenols constitute of about 30-40% of extractable polyphenols which are used mainly for treating skin cancer, weight management and sickle cell disease. Their rising popularity has resulted in the product accounting for 72.5% of the total market as of 2012. The market is also anticipated to witness significant gains over the forecast period at a CAGR of 8.8% owing to its increasing consumption, particularly among the working population.

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Increasing cases of diabetes, particularly among the younger population, has resulted in a growing demand for oolong tea as it helps in lowering the effect of diabetes. The segment accounted for over 15% of the overall market volume in 2012. Black tea polyphenols contain lower concentration of polyphenols and hence are anticipated to grow at a CAGR of 6.3% over the forecast period exceeding a value of USD 20.0 million by 2020.

Functional beverages including bottled juices, bottled water, energy drinks and bottled tea captured over 40% of the total market share in 2013. Growing consumption of functional beverages containing the ingredient is expected to fuel demand at a CAGR of 8.8 % from 2014 to 2020.

Functional food was the second largest application capturing over 30% of the total polyphenols market in 2013. Dietary supplements including liquid & powder extracts and capsules are anticipated to grow at a CAGR of 7.1 % from 2014 to 2020. Growing demand for dietary supplements owing to increasing prevalence of obesity is expected tp bolster demand.

Asia Pacific tea polyphenols market accounted for 40% of the overall volume in 2013, and is anticipated to grow at a CAGR of 9.2% over the projected period. Increasing ageing population, rising health concerns and abundant availability of raw materials in Japan are likely to be the major drivers of the market in the near future.

North America and Europe together accounted for over 50% of the industry in 2013. Growing demand for the ingredient among consumers in Asia Pacific is expected to result in these regions losing out their market shares over the forecast period. Prominent players in the market include Naturex, Indena S.P.A, Tianjin Jianfeng Natural Products Co, Ltd, Lyn Natural Ingredients Corp and Ajinomoto Omnichem Natural Specialities.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Source:Grand View Research