According to Future Market Insights (FMI), the United States green tea supplement market value is set to reach US$ 177.9 million in 2023. Over the projection period, sales of green tea supplements are projected to soar at 13.7% CAGR. By 2033, total market value in the United States is expected to reach US$ 642.0 million.
Rising prevalence of lifestyle diseases such as obesity and growing awareness about the potential health benefits of green tea supplements are key factors driving the market forward.
Over time, the eating habits of American people have changed due to their hectic daily schedules. They are opting for more healthy food products such as green tea supplements. Likewise, more people prefer sugar-free food or opt for sugar substitutes.
Naturopaths and dieticians around the globe suggest consumers make oral nutrition supplements a part of their daily nutrition intake.
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Oral nutrition supplements are a potent source of minerals, vitamins, active enzymes, and proteins. Hence, shift towards oral nutrition supplements will create a conducive environment for the expansion of the green tea supplement industry in the United States.
The increased clinical utility of oral nutrition supplements due to their antioxidant properties helps in the treatment of degenerative diseases such as cardiovascular diseases and diabetes. Therefore, the increasing number of health-conscious consumers is escalating the demand for green tea supplements.
For instance, ABE’S Households, a North America-based company, offers household superfood supplements. It is a natural blend of super nutrients that works wonders for cardiovascular health.
The United States has a growing obese population as well. This is allowing food giants to serve the large segment of consumers who are looking to lose weight and are very conscious about their calorie intake. Driven by this, sales of green tea supplements in the country will rise at a robust pace.
Further, innovation hubs and test markets have a huge opportunity for nutrition product manufacturers in the United States. Innovation hubs have become a cornerstone of the innovation ecosystem, serving as the main resource for managing operations and information flow.
Each innovation hub has its own administration, legal structure, and business plan, and it connects organizations from different sectors, nations, and disciplines. This promotes a continual flow of information, which tremendously benefits producers.
Several manufacturers see test markets as a lucrative opportunity since they can test their items in that specific market and gain from the responses and sales. This trial will assist them in adjusting the packaging, quantity, and even the distribution method. This is expected to ultimately reflect increased penetration in the market and satisfaction of the consumer.
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Key Takeaways from the United States Green Tea Supplement Market Report:
- The United States green tea supplement market size is estimated to reach US$ 177.9 million in 2023.
- By 2033, the United States market is projected to exceed a valuation of US$ 642.0 million.
- Green tea supplement sales in the United States are likely to soar at 13.7% CAGR over the forecast period.
- Based on form, capsule segment is anticipated to thrive at 9.5% CAGR during the assessment period.
- Tablet segment is projected to achieve a prominent value share of 52.6% in 2023 in the United States market.
- By distribution channel, store-based retailing segment is forecast to progress at a CAGR of 12.8% through 2033.
“Manufacturers of green tea supplements in the United States are benefiting from the rising demand for functional foods and the growing interest in health and wellness. With the market becoming increasingly competitive, manufacturers must differentiate their products through innovative formulations, attractive packaging, and strategic marketing to capture the attention of consumers and gain a competitive edge.” says a lead analyst at Future Market Insights (FMI)
Who is Winning?
Leading green tea supplement manufacturers profiled in the report include NOW Health Group, Inc., GNC Holdings, Inc., InVite Health, Pure Encapsulations, LLC, Country Life, LLC, Organika Health Products, Nature’s Bounty, Klaire Labs, Evlution Nutrition, NutraBio Labs, Inc., Nutraceutical International Corporation, Life Extension, Threshold® Enterprises, Ltd. (Source Naturals), Puritan’s Pride, and DaVinci Laboratories of Vermont.
These Companies are engaging in mergers & acquisitions along with new product launches as key strategies to stay competitive in the market. Launching novel products in the market has helped the companies to offer demanded quality for the products and meet the changing consumer trends across the industry.
Recent developments:
- In 2017, Nestle agreed to buy Atrium Innovations, a Canadian firm that is a worldwide pioneer in health products and nutritional supplements.
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United States Green Tea Supplements Market by Category
By Form:
- Capsule
- Liquid
- Tablet
- Powder
By Distribution Channel:
- Store-Based Retailing
- Grocery Store
- Mass Merchandise and Supercentres
- Club Store
- Convenience Store
- Health and Wellness Stores
- Drug Stores and Pharmacies
- Other Retailers (Dollar Stores, Forecourt retailers)
- Online Retailing
- Company Website
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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