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.
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.
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.
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.
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.