The matcha market is expected to record a CAGR of 10.2% during the forecast period. The market is expected to hold a share of US$ 2.7 billion in 2023 while it is anticipated to cross a value of US$ 7.1 billion by 2033.
Significant Growth Factors:
- The generation that is becoming concerned about their health is taking action to combat both the consequences of pollution and the rising number of diseases. Food items with antioxidant and anti-inflammatory effects are therefore in high demand.
- Matcha encourages suppliers of organic skincare products to utilize it because it prevents acne and other skin issues. Teenagers’ hormonal acne may be treated with matcha powder, which is fueling industry expansion. People constantly searching for organic superfoods and immune booster beverages are expanding the demand for matcha products such as matcha ice lattes and matcha tea.
- The higher influence of social media trends and internet reviews is expanding the growth of matcha tea and other products.
- The expanding bakery and beverage products are fueling the application of matcha in the form of food and beverages. Matcha is also used in drinks as an essential element to enhance the drink with its grassy notes.
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Key Points
- The market in the United States is likely to lead the matcha market in terms of CAGR. The market thrives at a CAGR of 9.9% during the forecast period. The market growth is attributed to the growing health consciousness among people along with the expanding bakery businesses. The regional market is expected to hold a value of US$ 355.0 million by 2033.
- The matcha market in China is expected to record a CAGR of 9.5% between 2023 and 2033. The greater usage of it through the beverage and skincare industries is the cause of the regional expansion. The market is anticipated to reach a value of US$ 1.9 billion by 2033.
- India is leading the market in terms of CAGR and is expected to record a CAGR of 7.9% and is anticipated to reach a valuation of US$ 937.2 million by 2033.
- The ceremonial segment is likely to thrive in the grade type category and is expected to record a CAGR of 10.0% between 2023 and 2033. The variables that led to applications and their potency as a cleanser are attributed to the growth.
- The bulk bags segment is expected to top the packaging category and is anticipated to record a CAGR of 9.6% during the forecast period. The growth of this segment is fueled by considerable flexibility and easy application.
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Competitive Landscape
The key competitors are working to create new grades and enhanced matcha products. Key competitors also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are ITO EN Ltd., Tata Global Beverages Ltd., Starbucks Corporation, The Hain Celestial Group Inc., Unilever PLC, and Aiya-Co. Ltd, The AOI Tea Company, McCormick & Company, Inc., Matchaah Holdings Inc., The Republic of Tea, Clearspring Ltd, Andrews & George Company Limited, Green Foods Corporation, and Marukyu-Koyamaen Co. Ltd.
Recent Market Developments
- McCormick & Company has introduced its new matcha recipes such as pea matcha green tea smoothie, matcha coconut kale smoothie, matcha green tea cake with lemon meringue frosting, and matcha green tea with ginger and citrus blend.
- Green Foods Corporation has launched its ceremonial matcha green tea with a subtle flavor and sweet scent. The matcha used in this product is cultivated to achieve a bright green color and organic aroma.
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Key Segments
By Grade Type:
- Ceremonial
- Classic
- Café
- Culinary
By Nature Type:
- Organic
- Conventional
By End-Use Type:
- Food Processing
- Beverage Processing
- Personal Care
- Foodservice
- Tea Shops/Café
- Restaurants
- Institutional
- Household
By Packaging Type:
- Bulk Bags
- Cartons
- Sachets
- Stand Up Pouches
- Tins
By Sales Channel Type:
- Direct Sales
- Indirect Sales
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Online Retailing
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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