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.
The matcha market is poised for significant growth, with key insights highlighting key factors contributing to its expansion. Notable trends include increasing health consciousness, thriving bakery businesses, and widespread applications in the beverage and skincare industries.
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 Growth Drivers:
- U.S. Market Leadership: The U.S. market is expected to lead the matcha market with a robust CAGR of 9.9%, reaching a value of US$ 355.0 million by 2033. The growth is attributed to rising health awareness and the flourishing bakery sector.
- China’s Rapid Expansion: The matcha market in China is forecasted to achieve a CAGR of 9.5%, reaching a value of US$ 1.9 billion by 2033. Increased utilization in beverages and skincare industries is a key driver for regional growth.
- Indian Market Surge: India leads in terms of CAGR, projected to record a growth rate of 7.9% and reach a valuation of US$ 937.2 million by 2033.
- Ceremonial Grade Dominance: The ceremonial segment is expected to thrive in the grade type category, recording a CAGR of 10.0% between 2023 and 2033. Applications and its effectiveness as a cleanser contribute to the segment’s growth.
- Bulk Bags Segment Pinnacle: The bulk bags segment is anticipated to lead the packaging category with a CAGR of 9.6%, driven by its flexibility and easy application.
Key Takeaways:
- Regional Growth Dynamics: Regional markets exhibit distinctive growth patterns, with the U.S., China, and India showcasing significant potential.
- Grade-wise Dominance: The ceremonial grade emerges as a dominant category, emphasizing its ceremonial significance and cleansing properties.
- Packaging Innovation: Bulk bags demonstrate market leadership in packaging, reflecting consumer preference for flexibility and ease of use.
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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
Author by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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