Global food and beverage packaging market is growing steadily owing to an augmenting demand for convenience packaging options by customers. Tea market is one of the most competitive and grueling markets regarding both the product as well as packaging.
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Tea provides numerous health benefits and is gaining immense popularity across the globe. Manufacturers along with tea production are more focused on the packaging of the product to attract more customers. Tea manufacturers are aiming at sustainable packaging material to reduce the cost involved in recycling as well as logistics. There has been an up surging demand for tea packaging that maintains the freshness and aroma of the tea leaves over a period. The rising number of cardiovascular diseases and other weight related diseases has led to a growing demand for tea attributed to its antioxidant properties and is likely to increase the global tea packaging demand over the forecast period.
Tea Packaging: Market Dynamics
Global tea packaging market is driven by the rise in the disposable income of individuals of the middle class population. Moreover, consumers are keen on buying packaged products from retail shopkeepers which is further driving the growth of the global tea packaging market. Demand for tea packaging intended for single use is a key factor fuelling the growth of the global tea packaging market. Rising concern among individuals about the health benefits of tea is driving both the tea as well as the tea packaging market.
The fluctuating cost of raw materials used for tea packaging is a restraining factor for the global tea packaging market. Also, the more innovative the packaging gets, it adds up to the cost of the product making it priced higher than usual which is an inhibitory factor for the global tea packaging market. Packaging type which is recyclable and reusable in nature is a key trend prevailing in the global tea packaging market.
Tea Packaging: Market Segmentation
Global tea packaging market is segmented on the basis of product type, packaging type, and geography. On the basis of product type, the global tea packaging market is segmented into tea bags, pouches, and tea pods. On the basis of packaging type, the global tea packaging market is segmented into flexible and rigid tea packaging.
Flexible tea packaging is further sub segmented into stand up pouches such as foiled stand up pouches, foil gusseted bags, sachets, and paper stand up pouches. Rigid tea packaging is sub segmented into cartons and corrugated boxes. Stand up pouches are the most preferred packaging type among consumers and are anticipated to continue their dominance over the forecast period.
Tea Packaging Market: Regional Outlook
On the basis of geography, the global tea packaging market is segmented into Asia Pacific, North America, Middle East & Africa, Latin America, and Europe. Currently, the Asia Pacific region leads the global tea packaging market owing to its large population base as well as the significant quantity exports from countries like India and Sri Lanka all over the globe. The increasing disposable income and the economic growth of these countries is also expected to drive the growth of this market over the forecast period.
Rapid urbanization and increasing preference for lifestyle products are also fuelling the tea packaging market in Asia Pacific region. North America is expected to witness steady growth owing to an increasing demand for ready to drink tea by consumers. Innovative tea packaging is also likely to boost the tea packaging market in North America.
Tea Packaging Market: Key players
Some of the key players of the global tea packaging market are Fpc Flexible Packaging Corporation, CascadesInc., Hankuk Package Co Ltd., Aero-pack Industries Inc., Detmold Group, Oji Fibre Solutions Food Service Packaging, Bericap Sarl, Can-Pack SA, Hood Packaging Corporation, and Hanil Can Co Ltd.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The report covers exhaustive analysis on:
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes
North America (U.S., Canada)
Latin America (Mexico, Brazil, Argentina)
Western Europe (Germany, Italy, U.K, Spain, France, Nordic, Rest of Western Europe)
Eastern Europe (Russia, Poland)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights:
Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint.