Tea Packaging Market Expected to Register High Revenue Growth Through 2024
Sarasota, FL -- (SBWIRE) -- 12/06/2017 -- Tea is the widely consumed beverage in the world thus the market for tea is one of the most competitive which also affects the tea packaging market. Various health benefits are provided by the tea thus it is gaining popularity worldwide. The tea manufacturers along with its production and quality are also focusing on the attractive packaging of the product in order to attract the consumers as there is wide competition in the market. In order to reduce the cost associated with recycling and logistics, the manufacturers are focusing on sustainable packaging material.
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The tea packaging market is segmented globally into its packaging type and product type. Based on the packaging type, the global market is segregated into rigid and flexible tea packaging. The flexible tea packaging segment is further sub-segmented into stand up pouches which include foiled foil gusseted bags, stand up pouches, paper stand up pouches and sachets. The rigid tea packaging segment is sub-categorized into cartons and corrugated boxes. Depending on the product type, the global tea packaging market is divided into pouches, tea bags, and tea pods.
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The key factor that is driving the tea packaging market is the increasing disposable income of the middle-class population. The recent trend is that the consumers prefer buying products that are packed well with the retail shopkeepers so as to ensure the quality and safety which triggers the growth of the global tea packaging market. The consumers are having increased awareness about the health benefits of tea which will drive the tea market coupled with the growth of the tea packaging market. Reusable and recyclable packaging is the key trend that is prevailing in the global tea packaging market. The volatile cost of the raw materials that is used for tea packaging will restrain the global tea packaging market. Making innovations in the packaging to attract the consumers adds up to the product cost thus hindering the global tea packaging market growth.
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The geographical segmentation of the global tea packaging market includes North America, Asia Pacific, Latin America, the Middle East & Africa, and Europe. The region that dominates the global tea packaging market is Asia Pacific region owing to factors such as the large population base coupled with the major quantity exports from the emerging nations such as India and Sri Lanka worldwide. Other factors that attribute to the market growth are the growing disposable income and the monetary growth of the developing nations expects to drive the growth of the market in the coming years. Swift urbanization and increasing demand for the lifestyle products also fuels the tea packaging market in the Asia Pacific region. North America will witness a steady market growth in the years to come owing to the increasing preferences of the consumers for ready to drink tea. Innovative tea packaging is also a marketing strategy that will boost the tea packaging market in the North American region.
The key market players that are involved in the tea packaging market include Cascades Inc., Aero-pack Industries Inc., Oji Fibre Solutions Food Service Packaging, Can-Pack SA, Hanil Can Co. Ltd., FPC Flexible Packaging Corporation, Hankuk Package Co. Ltd., Detmold Group, Bericap Sarl, and Hood Packaging Corporation.
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