The global hot drinks packaging market size is expected to reach USD 13.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.2% over the forecast period. Growing consumption of coffee and tea across the globe and innovative packaging methods to prevent loss of product are expected to remain key driving factors. Furthermore, increasing consumption of coffee and tea among the working class population of developing economies including China and India is expected to open opportunities for manufactures over next few years.
North America dominated the market and generated a revenue of USD 3.6 billion in 2018. This region has been witnessing significant rise in consumption of coffee and other hot drinks, especially in U.S. This scenario is expected to increase the demand and introduction of innovative packaging solutions for hot drinks. Furthermore, strong brand goodwill and foothold of key industry participants including Sonoco Products Company and Bemis Company, Inc. through their well-established distributor networks in U.S. are projected to remain favorable for the market growth over the next few years.
Asia Pacific is the fastest growing market for hot drinks and is projected to register a CAGR of 5.1% over the forecast period. This growth is attributed to increasing consumption of tea and coffee as a staple drink in the countries such as China and India, which is thereby driving the need for more production and their packaging solutions.
Coffee 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 owing to increasing coffee consumption in countries such as China, Japan, and India. This scenario is expected to drive the demand for innovative and attractive packaging solutions for hot drinks. 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.
Glass packaging material generated the highest revenue of USD 4.7 billion in the year 2018 due to its advantages such as recyclability and aesthetic appeal over other materials used for hot drink packaging. It is anticipated to witness significant growth over the forecast period owing to cost effectiveness and convenient transportation. For instance, Roaster, an American company specializing in manufacturing shelf bags, has different coffee packaging categories such as Gusseted Bag, Stand-up Pouch, Flat Pouch, and Flat-bottom Pouch.
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www.grandviewresearch.com/industry-analysis/hot-drinks-packaging-market
Further key findings from the report suggest:
- On the basis of product, the tea segment is expected to generate a revenue of USD 4.8 billion by 2025
- By material, the plastic segment accounted for a revenue share of 36.0% for the year, 2018
- Europe is expected to account for 20.8% share of the global revenue by 2025
- Key industry participants include in hot drinks packaging market are Bemis Company; Reynolds Group Holdings Limited Inc.; Sonoco Products Company; Stora Enso; Saint-Gobain S.A.; Mondi PLC.; Amcor Ltd.; Crown Holdings, Inc.; Alcoa Corporation; and Tetra Laval International S.A.
Grand View Research has segmented the global hot drinks packaging market on the basis of product, material, and region:
Hot Drinks Packaging Product Outlook (Revenue, USD Billion, 2015 - 2025)
- Coffee
- Tea
- Others
Hot Drinks Packaging Material Outlook (Revenue, USD Billion, 2015 - 2025)
- Glass
- Plastic
- Others
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