Overview and Scope
Matcha is a type of powdered green tea that is finely ground from high-quality shade-grown tea leaves that are carefully harvested, steamed, dried, and stone-ground into a fine powder. Matcha is often used to make matcha lattes, beverages, matcha tea, culinary recipes, and personal care products.
Sizing and Forecast
The matcha market size has grown rapidly in recent years. It will grow from $3.48 billion in 2023 to $3.84 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to increased awareness and popularity, increased consumer demand, increased availability of cheaper matcha alternatives, increased food processing use, and increased beverage sector application.
The matcha market size is expected to see rapid growth in the next few years. It will grow to $5.78 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to global industrialization, economic growth, increasing usage in personal care, increasing focus on health benefits and all-natural ingredients. Major trends in the forecast period include innovative market strategies, innovations in packaging materials, sustainable and eco-friendly practices, use of automation and advanced processing techniques, innovative solutions launch.
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Segmentation & Regional Insights
The matcha market covered in this report is segmented –
1) By Product: Regular, Flavored
2) By Form: Powder, Liquid
3) By Grade: Café, Ceremonial, Classic, Culinary
4) By Distribution Channel: Hypermarket And Supermarket, Specialty Retail Stores, Online Retail Stores, Other Distribution Channels
5) By Application: Regular Tea, Matcha Beverages, Food, Personal Care, Other Applications
Asia-Pacific was the largest region in the matcha market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the matcha market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising demand for food and beverages is expected to propel the growth of the matcha market going forward. Food and beverages are consumable substances that provide nourishment, sustenance, and pleasure to individuals. Matcha plays a significant role in food and beverages because of its distinct flavor, vibrant color, nutritional value, and cultural significance. Matcha’s versatility allows it to be incorporated into various recipes, catering to multiple tastes and preferences while providing potential health benefits. For instance, in April 2022, according to a report shared by Common Thread Collective, a US-based e-commerce growth agency, global sales of food and beverages reached $435.3 billion in 2021 and $506 billion in 2022. Furthermore, the worldwide revenue for food and beverages is expected to reach $857 billion by 2025. Therefore, the rising demand for food and beverages is driving the growth of the matcha market.
Key Industry Players
Major companies operating in the matcha market report are Nestle S.A., Unilever PLC, Starbucks Corporation, McCormick and Company Inc., ITO EN Ltd., The Hain Celestial Group Inc., Akira Matcha, The Republic of Tea, Clearspring Ltd., The AOI Tea Company LLC, Green Foods Corporation, Marukyu-Koyamaen Co. Ltd., Two Hills Tea, Tea Spot Inc., Foodchem International Corporation, Tenzo Tea Inc., Aiya Co. Ltd., My Matcha Life Products Inc., Encha Ceremonial Grade, Grace Matcha, Matchaful, Breakaway Matcha, Kettl, Matchaeologist, MatchaBar, MatchaKari.
The matcha market report table of contents includes:
1. Executive Summary
2. Matcha Market Characteristics
3. Matcha Market Trends And Strategies
4. Matcha Market – Macro Economic Scenario
5. Global Matcha Market Size and Growth
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32. Global Matcha Market Competitive Benchmarking
33. Global Matcha Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Matcha Market
35. Matcha Market Future Outlook and Potential Analysis
36. Appendix
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