Market Trends of Black Tea Extracts Industry
This section covers the major market trends shaping the Black Tea Extracts Market according to our research experts:
Growing Demand for Functional Food
Increasing consumer awareness towards nutritional enrichment and calorie reduction, mainly in Asia-Pacific and North America regions is set to transform the food & beverage sector and favors black tea extract market growth. Moreover, rising consumer consciousness toward personal health is boosting the functional food segment in the market studied. In addition, the rising demand for functional foods in Europe and North America is expected to drive growth over the forecast period.
Asia-Pacific Witness a Significant Growth in the Market Studied
Asia Pacific is expected to be a key industry for black tea extracts due to the larger production and consumption trend observed in the region. Key players located in the region are integrated across the value chain. The presence of major players in Asia Pacific coupled with increased disposable income and changing consumer preferences toward ready-to-drink beverages is likely to drive the product growth over the forecast period. North America is anticipated to be the largest importer of the black tea extract product for use in the cosmetic applications, ready-to-drink beverages, and other beauty supplement industries.
