Extracts Of Tea Market

The global market for extracts, essences, and concentrates of tea or mate is expected to continue its upward consumption trend, with forecasted growth in both volume and value terms from 2022 to 2030. China leads in consumption volume and value, while Spain is the key exporter. The United States is the largest importer, with significant growth potential in countries like Taiwan, Malaysia, and Mexico. Overall, the market is poised for growth, driven by increasing demand worldwide.

Market Forecast

Driven by increasing demand for extracts, essences and concentrates of tea or mate worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market volume to 1.1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.0% for the period from 2022 to 2030, which is projected to bring the market value to $9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Extracts, Essences And Concentrates Of Tea Or Mate

In 2022, approx. 840K tons of extracts, essences and concentrates of tea or mate were consumed worldwide; approximately equating 2021. Over the period under review, consumption recorded a modest increase. As a result, consumption attained the peak volume of 884K tons. From 2015 to 2022, the growth of the global consumption failed to regain momentum.

The global extracts of tea market value was estimated at $5.6B in 2022, approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Global consumption peaked at $5.7B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Consumption By Country

China (141K tons) constituted the country with the largest volume of extracts of tea consumption, accounting for 17% of total volume. Moreover, extracts of tea consumption in China exceeded the figures recorded by the second-largest consumer, the United States (60K tons), twofold. The third position in this ranking was held by India (46K tons), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +4.3%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+1.7% per year) and India (+2.9% per year).

In value terms, China ($1.4B) led the market, alone. The second position in the ranking was taken by India ($333M). It was followed by Japan.

In China, the extracts of tea market increased at an average annual rate of +6.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: India (+3.0% per year) and Japan (-0.1% per year).

The countries with the highest levels of extracts of tea per capita consumption in 2022 were Canada (459 kg per 1000 persons), the UK (300 kg per 1000 persons) and France (247 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Canada (with a CAGR of +9.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Extracts, Essences And Concentrates Of Tea Or Mate

Global extracts of tea production totaled 942K tons in 2022, rising by 2.7% on 2021 figures. The total output volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 with an increase of 16%. As a result, production reached the peak volume of 972K tons. From 2015 to 2022, global production growth remained at a lower figure.

In value terms, extracts of tea production rose modestly to $5.6B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by 23% against the previous year. Over the period under review, global production hit record highs at $5.7B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (153K tons), Spain (110K tons) and Canada (58K tons), with a combined 34% share of global production. India, Japan, Indonesia, Nigeria, Pakistan, Brazil, Germany, the UK, Bangladesh and Thailand lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +4.9%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Extracts, Essences And Concentrates Of Tea Or Mate

In 2022, approx. 225K tons of extracts, essences and concentrates of tea or mate were imported worldwide; surging by 7.8% on the previous year. Over the period under review, imports recorded a relatively flat trend pattern. Over the period under review, global imports attained the peak figure at 230K tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, extracts of tea imports reached $1.4B in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 16% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports By Country

In 2022, the United States (78K tons) represented the key importer of extracts, essences and concentrates of tea or mate, mixing up 35% of total imports. Germany (12K tons) held a 5.3% share (based on physical terms) of total imports, which put it in second place, followed by Canada (4.6%). The Philippines (8.9K tons), Chile (8.1K tons), Ireland (6.8K tons), the Netherlands (6.3K tons), the United Arab Emirates (5K tons), France (4.6K tons), Spain (4.3K tons), Singapore (4.2K tons) and Japan (4K tons) followed a long way behind the leaders.

The United States experienced a relatively flat trend pattern with regard to volume of imports of extracts, essences and concentrates of tea or mate. At the same time, Chile (+33.8%), the Philippines (+14.3%), the United Arab Emirates (+9.7%), Singapore (+6.8%), Ireland (+4.6%), France (+3.6%), Canada (+3.2%) and Japan (+2.9%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in the world, with a CAGR of +33.8% from 2012-2022. By contrast, Spain (-2.8%), the Netherlands (-7.3%) and Germany (-8.0%) illustrated a downward trend over the same period. While the share of Chile (+3.4 p.p.) and the Philippines (+2.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the Netherlands (-3.5 p.p.) and Germany (-7.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($239M) constitutes the largest market for imported extracts, essences and concentrates of tea or mate worldwide, comprising 18% of global imports. The second position in the ranking was taken by the Netherlands ($100M), with a 7.4% share of global imports. It was followed by France, with a 6% share.

In the United States, extracts of tea imports expanded at an average annual rate of +3.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (+0.6% per year) and France (+5.8% per year).

Import Prices By Country

The average extracts of tea import price stood at $6,015 per ton in 2022, declining by -2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 8.9%. Over the period under review, average import prices attained the peak figure at $6,153 per ton in 2021, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($17,610 per ton), while the Philippines ($2,213 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Extracts, Essences And Concentrates Of Tea Or Mate

In 2022, overseas shipments of extracts, essences and concentrates of tea or mate increased by 11% to 327K tons, rising for the third consecutive year after three years of decline. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 11% against the previous year. As a result, the exports reached the peak of 339K tons. From 2014 to 2022, the growth of the global exports remained at a lower figure.

In value terms, extracts of tea exports expanded sharply to $1.4B in 2022. The total export value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 20% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports By Country

Spain was the key exporter of extracts, essences and concentrates of tea or mate in the world, with the volume of exports amounting to 107K tons, which was approx. 33% of total exports in 2022. It was distantly followed by Canada (50K tons), the United States (19K tons) and Germany (16K tons), together creating a 26% share of total exports. China (14K tons), Thailand (11K tons), India (11K tons), Mexico (9.8K tons), Malaysia (9.4K tons), the Netherlands (8.6K tons), Ireland (7.1K tons), Taiwan (Chinese) (6.8K tons) and Poland (5.7K tons) took a relatively small share of total exports.

Spain experienced a relatively flat trend pattern with regard to volume of exports of extracts, essences and concentrates of tea or mate. At the same time, Taiwan (Chinese) (+9.9%), Malaysia (+9.6%), Mexico (+9.3%), India (+7.6%), Poland (+7.0%), the Netherlands (+4.7%), Germany (+4.1%) and China (+3.8%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in the world, with a CAGR of +9.9% from 2012-2022. Ireland and Canada experienced a relatively flat trend pattern. By contrast, the United States (-1.9%) and Thailand (-7.6%) illustrated a downward trend over the same period. While the share of Mexico (+1.7 p.p.), Malaysia (+1.7 p.p.) and India (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the United States (-1.8 p.p.), Canada (-2.3 p.p.), Spain (-3.6 p.p.) and Thailand (-4.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($263M), China ($186M) and the United States ($150M) appeared to be the countries with the highest levels of exports in 2022, with a combined 42% share of global exports. Ireland, Germany, India, Canada, Spain, Malaysia, Thailand, Taiwan (Chinese), Mexico and Poland lagged somewhat behind, together accounting for a further 38%.

Taiwan (Chinese), with a CAGR of +16.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average extracts of tea export price amounted to $4,383 per ton, falling by -4.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2021 when the average export price increased by 12%. As a result, the export price reached the peak level of $4,572 per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($30,452 per ton), while Spain ($481 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+11.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform