Matcha tea is gathering impetus owing to its varied health benefits including antimicrobial, antiviral, and cardioprotective properties. As a result, there is notable surge in the inclination toward consuming this tea. This factor is bringing lucrative business opportunities for players in the global matcha tea powder market.
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Culinary and ceremony are the two product types available in the matcha tea powder market. While the product is available in different packaged tea forms such as boxes, pouches, and tea bags, it is also used in loose form. In recent years, there is significant growth in the demand for matcha tea powder from restaurants, offices, hotels, residencies, cafes, and food & beverage industry. Moreover, several cosmetics manufacturers are also increasing the use of matcha tea powder in their products. These factors are boding well with the growth of the matcha tea powder market.
Acquisition of Small Competitors: Prime Strategy of Leading Players in Matcha Tea Powder Market
Some of the key players in the matcha tea powder market are Mizuba Tea Co., Yamamotoyama Co. Ltd., Encha, and Associated British Foods plc. Players are experiencing increase in the competition levels due to surge in number of new entrants in the market. Thus to maintain prominent position intact, leading companies in the matcha tea powder market are using the strategy of acquiring their small competitors.
Several enterprises in the matcha tea powder market are concentrated on offering supreme quality products. Hence, they are increasing involvement in the R&D projects. Moreover, companies in the matcha tea powder market are launching innovative products to attract their consumers.
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Presence of Huge Customer Base Attracts Players toward Asia Pacific
Several countries such as Japan, India, and China have prominent culture of consuming tea and coffee regularly. Owing to this factor, players in the matcha tea powder market experience lucrative prospects for expansion in this region.