Hot drinks packaging market is expected to reach a CAGR of 4.8% with a market value of USD 13347.2 million by the year 2028.
Drivers and Restraints
The key driving factors contributing to the growth of the global hot drinks packaging market are the high efficiency of packaging machines, energy, and cost savings owing to flexible packaging and augmented concern of waste disposal sustainability. Manufacturers are presenting several innovative packaging methods to preserve the quality of hot drinks like tea, coffee, and others. Coffee producers are focusing for sustainable packaging materials that target towards reducing recyclability expenses and transportation costs. Corporations are investing in materials that are light and cause less environmental impact. Hot drink packaging is extensively used in coffee, tea and other hot drink products. Roasted and ground coffee contributes the highest to the overall growth. The limiting factor towards the growth of the market is the growing concern of coffee staling. The hot drinks packaging market is a rapidly growing industry that encompasses a wide range of products, including coffee, tea, hot chocolate, and more. With the increasing demand for hot drinks, there has been a corresponding increase in the demand for high-quality, convenient, and eco-friendly packaging solutions.
The global hot drinks packaging market is expected to grow at a CAGR of 5.5% from 2021 to 2028, according to a report by Grand View Research. The market is being driven by factors such as the rising demand for on-the-go hot drinks, the growing popularity of specialty coffee and tea, and the increasing awareness about environmental sustainability.
In recent years, there has been a trend towards eco-friendly packaging solutions that minimize waste and reduce the environmental impact of hot drinks packaging. This has led to the development of innovative packaging solutions such as compostable coffee pods, reusable cups and bottles, and biodegradable packaging materials.
Some of the key players in the hot drinks packaging market include companies like Mondi Group, Amcor, Smurfit Kappa, International Paper Company, and Tetra Pak. These companies are constantly innovating and developing new packaging solutions to meet the changing needs and preferences of consumers.
The leading market players identified by MRFR in the global market are Associated British Foods, Strauss Group Ltd., Jacobs Douwe Egberts, STata Global Beverages Ltd., Nestle S.A, Unilever, Apeejay Surrendra Group, Barry’s Tea, Bettys Taylors Group Ltd., Cantarella Bros Pty Ltd, and Eight O’Clock Coffee Company.
The global hot drinks packaging market is segmented on the basis of material and product. Based on the material, the global market for hot drinks packaging is segmented into plastic, glass and others. Based on the product, the segment comprises coffee, tea, and others. The increasing consumption of coffee is contributing to the high growth of the coffee segment over the review period.
The geographical analysis of the global hot drinks packaging market trends has been conducted in four major regions, namely the Asia Pacific, North America, Europe, and the rest of the world (including Latin America and the Middle East and Africa).
Regionally North America led the global hot drinks packaging market, owing to the increase in consumption of coffee, and premium tea, along with the rise in the number of people getting health conscious. The US contributes mainly to the global hot drinks packaging market, majorly due to rising annual foodservice consumption of premium tea coffee and the increasing number of health-conscious consumers. Besides, emerging economies/ in the Asia Pacific, such as Japan, China, and India, are the critical consumers of tea are accounting towards the highest market share of the entire tea market, stimulating the development of the hot drinks packaging market as well.
Access Full Report with Complete TOC @ https://www.marketresearchfuture.com/reports/hot-drinks-packaging-market-1821
About Market Research Future -
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.MRFR team has the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.
Read more packaging related Report –
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone: +1 628 258 0071(US) +44 2035 002 764(UK)