Tea contains high concentration of vitamin E, vitamin B, antioxidants, tannin, caffeine, potassium, folate, magnesium, and manganese. These ingredients help to delay and prevent aging by improving the appearance of the skin. Vitamin E works to provide hydration, cell regeneration, and nourishment. Skin care formulations are made with major ingredients including tea extracts which is driving the growth of the tea based skin care market.
Some of the popular teas used in skin care products are spearmint, white, hibiscus, oolong, and green. White tea works as a moisturizing component to prevent skin damage caused by sun exposure. Oolong, hibiscus, and spearmint tea prevents skin problems including eczema, clogged pores, and acne. These properties work as a market driver for tea-based skin care products.
Increasing Consumer Awareness about Harmful Chemical Skin Care Products
Growing consumer awareness about the ill effects of chemical skin care products is driving the demand for natural products including tea-based skin care products. Furthermore, consumers in developing countries are reducing the usage of chemical cosmetics which is expected to boost the market growth in the next few years.
Rising Penetration of Alternative Products to Hamper the Market
Growing penetration of low budget skin care products is likely to restrict the growth of the tea-based skin care market. Average price of conventional skin care product is much lower than organic and natural products, which is expected to decrease the demand for tea-based skin care products in the coming years.
Asia Pacific to Hold Major Share of the Global Tea-based Skin Care Market
Asia Pacific accounted for largest share of the tea-based skin care market. Demand for organic and natural ingredients in cosmetics is very high among consumers of this region. It has been observed that large number of consumers prefer to purchase natural beauty products rather than chemical products in China, Hong Kong, Japan, Singapore, South Korea, Taiwan, Thailand, and India. Various global manufacturers including Lu Ming Tang, AmorePacific Corporation, Soh-cha, and SkinYoga are hence operating their companies from this region.
The popular tea culture in Asia Pacific has a positive impact on the production sector as a result of easy raw material availability. White and green tea are used as major ingredients in tea-based skin care products. China accounted for over 50% share of the green tea production which will help local tea based skin care product manufacturers to increase their production.
Key Players Operating in the Global Market
The global tea-based skin care market is highly fragmented with many small and large players present in the market. Companies are adopting several strategies including product innovation & development as well merger & acquisition to boost their market revenue. For instance, in June 2019, Unilever, a U.S. based company, acquired Japan based modern skincare brand Tatcha LLC. This acquisition is expected to help Unilever increase its natural product portfolio. A few of the key players operating in the global tea-based skin care market are: