Cloud Gaming - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Matcha - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Matcha Market size is estimated at USD 2.36 billion in 2024, and is expected to reach USD 2.89 billion by 2029, growing at a CAGR of 4.17% during the forecast period (2024-2029).

Matcha contains a high concentration of antioxidants and is often associated with health benefits on metabolism and cognitive function. Thus, the rising awareness of the health benefits associated with consuming matcha and the increasing consciousness among consumers about the negative health impact of carbonated drinks are significant factors driving the market. Furthermore, consumers are becoming more discerning about the quality of matcha. The trend toward premium-grade matcha, with consumers willing to pay a higher price for superior quality and authenticity, encourages manufacturers to launch premium products. For instance, in December 2022, MatchaKo unveiled its first ready-to-drink premium matcha drink in the United States market. Per the brand’s claim, matcha drink was certified organic, non-GMO project verified, and vegan. Besides this, the versatility of matcha in different applications, such as snacks, desserts, smoothies, and beauty products, is anticipated to provide a positive outlook for the market during the study period.

Matcha Market Trends

Increasing Focus On Health and Wellness

In recent years, with increasing consumer focus on balanced diets and overall well-being, there has been a heightened emphasis on conscious food and beverage choices, with many people actively seeking nutritious and natural options. Matcha stands out for its rich antioxidant content, especially catechins, which can shield cells from damage induced by free radicals. Moreover, due to the prevalence of chronic degenerative illnesses, including cardiovascular disease, obesity, and cancer, matcha is gaining traction as a viable alternative to reinforce the preventative approach, preventing the need for therapy and boosting overall health. Some studies suggest that regular consumption of matcha may be associated with a lower risk of cardiovascular diseases. For instance, a survey of the therapeutic potential of matcha tea published by the National Library of Medicine in 2023 states that the consumption of matcha tea has been linked to impressive cardio-metabolic outcomes and health benefits.

Asia-Pacific Is The Largest Market For Matcha

India is one of the leading markets for matcha in the Asia-Pacific region. Furthermore, green tea has gained the attraction of Indian consumers over the past few years, mainly due to its health benefits, which are expected to ultimately propel the demand for matcha in the country. Owing to this, brands are focussing on expanding and launching products. For instance, in March 2022, EIJ Consulting Pvt. Ltd. announced it would bring Shizuru's ocha green tea to India in three distinct flavors: Sencha, Genmaicha, and Gyokuro. Additionally, EIJ Consulting Pvt. Ltd. would sell Shizuru's "Ocha" in India in collaboration with importer Mittal Teas, as well as introduce Indians to the rich tea culture of Japan and the savory flavors of green tea. Matcha has deep roots in Japanese culture and tradition, integral to tea ceremonies and rituals. This cultural significance drives domestic consumption and attracts tourists seeking authentic Japanese tea experiences. Moreover, the global popularity of matcha has led to increased demand for Japanese matcha products overseas, driving production and export growth in Japan. For instance, according to the Ministry of Agriculture, Japan's matcha and other green tea shipments rose 4% year-on-year to 9.1 billion yen in January–May 2023.

Matcha Industry Overview

The global matcha market is highly competitive, with the presence of several regional players and international players across different regions. The brands with major market shares include AIYA America Inc., PepsiCo Inc., Breakaway Matcha LLC, The AOI Tea Company, and Pique. The companies focus on developing innovative products that meet the changing needs of consumers. Companies are also focused on fortifying matcha products to enhance their customer base and stay ahead of the competition in a rapidly evolving market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support