A recent report by Fact.MR establishes that the market for matcha tea is expected to surpass US$ 5 Bn in the projected forecast period 2021-2031. As per the report, a CAGR of nearly 10% has been projected for the market in the forthcoming decade.
From 2016 to 2020, matcha tea sales expanded at a CAGR of around 8%, closing in at nearly US$ 2 Bn by the end of the historical period. Growth prospects have been further accelerated with the onset of COVID-19, as consumers increasingly opt for healthy beverage consumption.
Analysis concludes that matcha tea applications will abound in sectors such as skincare, desserts and healthcare industries respectively. Their antioxidant and nutritional properties are boding well for matcha tea sales. Also, manufacturers are focusing on offering the products in different packaging. This, in turn, has increased the reliability and usability factor of matcha tea.
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Key Takeaways from the Market Study
- By type, organic matcha tea sales to expand at 7% CAGR through 2031
- India and China to collectively account for over 60% market revenue
- Standup pouches and sachets to be favored, jointly contributing over 50% revenue
- By flavor, unsweetened matcha tea sales likely to expand at nearly 10% CAGR until 2031
- Matcha tea sales across the U.S to expand at nearly 9% CAGR, amid high green tea consumption
- By sales channel, indirect sales, especially online platforms, to register maximum matcha tea distribution
- Sales of matcha tea in Asia to surpass a CAGR of 5% in the projected forecast period
“Increasing proportion of diabetic patients is prompting healthcare companies to advocated unsweetened matcha tea consumption, prompting key players to expand manufacturing in this category,” remarks the Fact.MR analyst.
How is Rising Consumption of Wellness Beverages Spurring Matcha Tea Demand?
Consumption of wellness teas is increasingly becoming mainstream, as consumers exhibit high affiliation towards health and wellness. Matcha tea is one of these tea variants which has garnered traction in the recent past, expected to grow 2.5x until 2031.
While the middle-aged consumer groups have been observed to be the most important drinkers of matcha tea, it is also becoming popular amongst the millennials, especially women.
This constant upsurge in matcha tea demand has also led to the evolution of more convenient forms of the product, for instance, on-the-go matcha tea. On the go matcha tea brands such as Jade Monk and U Matcha have acquired significant consumer attention in the recent past.
How is Consumption of Matcha Tea Rising across the U.S?
While penetration of matcha is comparatively limited across North America and Europe, in recent years, consumers have exhibited rising preference for healthy beverage consumption. Sales in the U.S are poised to expand at almost 9% CAGR.
Around 30% of households in New York and 29% in California have green tea in their regular grocery purchases. A lifestyle survey conducted by the Tea Association of the U.S establishes that almost 15% of the tea consumed is green tea. Hence, prospects appear bright across this landscape.
Category-wise Analysis
Why is Unsweetened Matcha Tea Experiencing High Growth?
Unsweetened matcha tea is anticipated to tower over other variants. Unsweetened matcha tea is specifically targeted at diabetic customers. Hence, healthcare practitioners are increasingly advocating for its extensive consumption.
Some of the most sought after flavored variants of matcha tea include chocolate, coconut and ginger. According to the report published by Fact.MR, unsweetened matcha tea is likely to expand at a CAGR of almost 10% until 2031.
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Competitive Landscape
Key players for matcha tea include AIO Tea Company, ITO EN ltd., Tata Consumer Products., Starbucks Corporation, Unilever PLC, Encha, Sasaki Green Tea Ltd, Mizuba Tea Co, Tenzo Tea, Green Food Corporation, Marukyu Koyamaen Co Ltd, Kissa Tea, Midori Spring Ltd. For instance, in June 2021, Starbuck Corporation launched 47 Jimoto Frappuccino blended beverage series to celebrate its 25th anniversary in Japan. These beverages pay tribute to the different cultures and tastes of Japan.
While matcha tea market is in the introductory phase of its lifecycle in most countries, key players are focusing on new product launches.
- In 2019, ITO EN Ltd. launched its new product under the brand name matcha LOVE.
- In 2018, Starbucks launched a new product as a matcha hack to provide matcha tea at lower prices.
- In 2019, Starbucks launched its New Springs products collection with different flavors of matcha tea.
Key Segments Covered
Product Type
- Unsweetened Matcha Tea
- Sweetened Matcha Tea
- Flavored Matcha Tea
Nature
- Organic Matcha Tea
- Conventional Matcha Tea
Packaging
- Matcha Tea Cartons
- Matcha Tea Sachets
- Matcha Tea Stand up Pouches
- Matcha Tea Tins
Sales Channel
- Direct Matcha Tea Sales
- Indirect Matcha Tea Sales
- Matcha Tea Sales through Modern Trade
- Matcha Tea Sales through Convenience Stores
- Matcha Tea Sales through Online Retailers
- Matcha Tea Sales through Other Retail Formats
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