Global Matcha Market
The global matcha market is expected to witness a CAGR of 8.3%, and is projected to reach USD 5.3 billion by 2023. The growth in the market is attributed to the rising awareness regarding the health benefits of matcha products coupled with growing preference for natural products across the globe. Moreover, easy availability of matcha products is also driving the growth in the market. The report segments the matcha market by Grade (Ceremonial, Classic, Culinary, Others), Application (Regular Tea, Beverages, Food, Others), and Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa (MEA)). The report studies the global matcha market over the forecast period (2017-2023).
Matcha is finely ground powder prepared from shade-grown tea leaves known as tencha. The green tea plants of matcha are sheltered to avoid the exposure to direct sunlight, resulting in an increase in the chlorophyll production. Matcha was traditionally used in Japanese tea ceremonies and is now popularly used in food and beverages across the world owing to its various health benefits.
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Key findings from the report:
- The global matcha market is expected to reach USD 5.3 billion by 2023
- Based on the Grade, the classic grade segment held the major share of the global market in 2016
- On the basis of Application, the regular tea segment is projected to grow at the highest CAGR during the forecast
- Asia-Pacific held the largest share of the global market in 2016 and is expected to grow at highest CAGR during 2017-2023
- The key players dealing in matcha market are AIYA, DoMatcha, Midori Spring LTD, The AOI Tea Company, Ippodo Tea Co., Ltd, Encha, Jade Monk LLC, and ITO EN INC. among others
Health Benefits of Matcha Products Propelling the Market Growth
The growth in the matcha market is mainly attributed to the rising awareness regarding the health benefits of matcha products. Matcha is a source of vitamin A, C, E, K vitamin B-complex, and trace minerals. It contains high level of antioxidants which protect cells against free radicals and strengthen the immune system. Matcha tea also contains the amino acid, L-theanine, which possesses anti-anxiolytic properties. Unlike teas where the leaves are discarded after use, matcha tea is made from the finely grounded powder, which is consumed along with the tea. The tea powder contains high content of chlorophyll, which acts as a detoxifier and helps in cleansing the blood.
Matcha Market – Regional insight
Asia-Pacific held the largest share of the global market in 2016 and is expected to grow at highest CAGR during 2017-2023. The growth in the region is mainly driven by the traditional use of matcha tea in countries such as Japan and China. Moreover, the market is also expected to grow at a steady rate in emerging markets of India and Australia. The North American market is expected to grow at a steady rate during the forecast period, owing to the increasing awareness regarding the health benefits of matcha products and easy availability of matcha products in the region.
Health Benefits Propelling the Growth of Global Matcha Market, to Witness a CAGR of 8.3% During 2017-2023