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Industry Insights, Market Size, CAGR, High-Level Analysis: Hot Drinks Packaging MarketThe global hot drinks packaging market size was valued at USD 10.3 billion in 2018. Growing consumption of coffee and tea as a staple drink in day to day life is expected to remain a favorable factor for the market growth. The need for convenient carrying of hot drinks is benefiting the packaging industry and is thereby expected to drive the market. Furthermore, rise in consumption of coffee and tea, coupled with increasing income levels in the developing economies including China, India, and Brazil, is enabling the consumers to raise their spending on these products. Over the past few years, consumption of hot drinks has increased significantly at the global level. This has impacted the global market growth in order to overcome the difficulties in carrying them. Innovative packaging methods for hot drinks such as use of recyclable materials and custom packaging boxes that preserves space through distribution process, wherein the primary purpose is to prevent hot drinks from leaking, are expected to drive the market over the forecast period. For instance, IPC, an American packaging company, is offering improved drink packaging options with high quality recyclable material, which is cost effective and prevents loss of product. High efficiency of packaging machines to preserve the flavor and quality of hot drinks is a crucial factor benefiting the industry growth. Flexible packaging materials have increased cost and energy savings, which is encouraging manufacturers to invest more in R&D to invent convenient packaging systems. Some flexible packaging innovations for hot drinks that are currently in trend include ease of opening and closing, pH and temperature sensitive, pressurized sealed packages, and that can be heated in microwaves for instant consumption. Roasted and ground coffee significantly contributes to the growth of the overall market. Coffee producers are aiming at reducing recycling expenses and transportation costs by developing reliable packaging methods such as stand up pouches to avoid any leakages and degradation of flavor. These factors are likely to propel the industry growth over the forecast period.
Product Insights of Hot Drinks Packaging MarketCoffee accounted generated the highest revenue of USD 5.6 billion in the year 2018. In 2017, consumption of coffee was 62% i.e. 5% increase over the prior year, which makes it the largest shareholder. The segment is also expected to witness the fastest growth over the forecast period attributed to increasing coffee consumption in countries such as China, Japan, and India. This scenario is expected to drive the demand for the packaging industry to provide innovative and attractive solutions. Companies are coming up with flexible packaging solutions for this drink, such as use of recyclable materials like cardboards, to help consumers in convenient takeaway process. Different variants in tea including green tea, lemon tea, and other flavored hot tea packages have increased the consumption of this drink over the past few years. Barrier bags and foiled pouches for hot drinks are some of the preferable options for tea packaging as they prevent delicate tea leaves from harmful UV rays.
Material Insights of Hot Drinks Packaging MarketThe glass segment dominated the market for hot drinks, accounting for 45.9% share of the overall revenue in the year 2018. Glass is majorly used to produce jars and bottles. Glass gives an aesthetic appeal, along with reusable options. For instance, Nescafe launched its coffee product in fancy glass packaging to make it more appealing and attract more customers. Plastic is anticipated to be the fastest growing material, expanding at a CAGR of 4.7% over the forecast period. This can be attributed to the fact that plastics are cost effective, easy to transport, and requires minimal handling efforts. Developing economies, increased trading activities, and convenient manufacturing process are the key aspects driving the segment. For instance, PTI is one such plastic packaging company that offers sustainable and smart packaging solutions for quality control and leakage proof packing of hot drinks.
Regional Insights of Hot Drinks Packaging MarketAs of 2018, North America dominated the hot drinks packaging market, accounting for 35.1% share of the total revenue. Demand for hot drinks in developed economies such as U.S. is expected to increase owing to rise in consumption of coffee and tea. This trend is expected to continue over the next few years due to strong brand goodwill and foothold of well established companies like Alterrra Coffee Roasters and Black Rifle Coffee Company. Europe holds a considerable share in the industry for hot drinks. Key markets of this region include U.K., Italy, Germany, and France. Developed economies and high spending power of the major population in this region are encouraging many manufacturers to invest in R&D to cater to the needs and requirements of the consumers. Asia Pacific is the fastest growing region and is expected to expand at a CAGR of 5.1% from 2019 to 2025. Factors such as rise in spending power among the working professionals are creating demand for hot drinks, which in turn is anticipated to fuel the regional growth. Furthermore, developing economies including China and India are anticipated to remain prominent markets in this region owing to their abundant raw material supply and skilled labor.
Market Share Insights of Hot Drinks Packaging MarketThe global market is highly competitive in nature, marked by the presence of a large number of players. Key industry participants include Bemis Company Inc.; Alcoa Corporation; Sonoco Products Company; Crown Holdings, Inc.; Saint-Gobain S.A.; Amcor Ltd.; Reynolds Group Holdings Limited; Stora Enso; Mondi PLC.; and Tetra Laval International S.A. Companies primarily focus on sustainability, differentiation, clean labeling, and premiumization of packaging designs for hot drinks to attract more customers. For instance, Twinings has invested in marketing its wide range of premium tea across Europe by using a popular hood cover patterned carton.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Hot Drinks Packaging Market Research ReportThis report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global hot drinks packaging market report on the basis of product, material, and region:
Product Outlook (Revenue, USD Billion, 2019 - 2030)
Material Outlook (Revenue, USD Billion, 2019 - 2030)
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization | read more...