Coffee Packaging Market is projected to rise at a CAGR of 4.7% through to 2027, up from a value worth US$ 105.8 Mn attained in 2017
Albany, NY -- (SBWIRE) -- 05/16/2018 -- According to the latest market report published by Transparency Market Research titled "Coffee Packaging Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017–2027," the global market for coffee packaging is slated for impressive growth over the next decade. The global coffee packaging market has witnessed extraordinary growth during the past few decades, owing to a major shift of consumer preferences to RTD (ready-to-drink) coffee and increasing consumption of coffee among the millennial generation.
Global coffee packaging market is segmented by packaging type (pouches, side gusseted bag, block bottom bag, stick pack, bag in box, bottles, cans, containers & boxes, sacks, and others), by material type (plastic, metal, paper and paper board, glass and others), by distribution channel (institutional sales and retail sales), and by region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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According to packaging type, sacks segment is anticipated to be the highest contributor to the global coffee packaging market revenues. This segment currently holds more than 16% share of the market value and the report estimates its expansion at a CAGR of 4.7% through to 2027, up from a value worth US$ 105.8 Mn attained in 2017. Block bottom bags segment is anticipated to expand at a highest CAGR of 5.5% by value, among all the packaging types.
Among material types, the paper and paper board segment is the fastest growing material segment among all the coffee packaging material formats. This segment is anticipated to expand at a promising CAGR of 4.8% during the forecast period. Increasing demand for sustainable packaging is one of the main factors influencing the penetration of paper and paper board in the coffee packaging.
Among distribution channel segments, retail sales segment is the fastest growing segment among all the coffee packaging distribution channel segments. Institutional sales segment is anticipated to dominate the global coffee packaging market, creating an estimated incremental $ opportunity of US$ 211.8 Mn throughout the forecast period.
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The global market for coffee packaging has been segmented into five regions, i.e. North America, Latin America, Europe, Asia Pacific region (APAC), and Middle East & Africa (MEA). Europe is likely to remain the global leader on account of having the largest consumer base. In addition, a majority of youngsters are shifting their preferences towards RTD coffee. Latin America's coffee packaging market is anticipated to expand at a lucrative CAGR of 5.9% during 2017-2027. Brazil is the major contributor in Latin America, whereas China and India spearhead the coffee packaging market in APAC.
The key market players that have been profiled in the report include Amcor Limited, WestRock Company, Bemis Co Inc., Mondi PLC, DS Smith PLC, ProAmpac LLC, Graham Packaging Company, L.P., Pacific Bag, Inc., Crown Holdings Inc., Goglio S.p.A., Novolex Holdings, Inc., Sonoco Products Company, Co Pack, Inc., Sixto Packaging, PBFY Flexible Packaging, Dongguan Min Lee Packaging Materials Co., Ltd, Color Hoyo Paper & Plastic Products Co., Ltd, Dongguan Jmei Packaging Company Limited, Qingdao Dejili Packing Material Co. Limited, and Shenzhen Packmate Packaging Co., Ltd.