New York, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tea Capsule Global Market Report 2023" - https://www.reportlinker.com/p06284501/?utm_source=GNW
Major players in the tea capsules market are Dualit Limited, Teespresso, Nestle Nespresso, Lipton, Corsini, Bonini S.r.l., and Red Espresso.
The global tea capsule market will grow from $1.49 billion in 2022 to $1.68 billion in 2023 at a compound annual growth rate (CAGR) of 12.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The tea capsule market is expected to grow to $2.72 billion in 2027 at a CAGR of 12.7%.
The tea capsule market consists of sales of red tea capsules, oolong tea capsules, black tea capsules, yellow tea capsules, and other tea capsules.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Tea capsules are encapsulated tea leaves that contain ingredients similar to an ordinary cup of tea. Tea capsules offer convenience and comfort when making tea at home, in public places, or even when traveling.
Asia Pacific was the largest region in the tea capsules market in 2022.Western Europe was the second-largest region in the tea capsules market.
The regions covered in the tea capsules market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The tea capsules market covered in this report is segmented by product type into red tea capsules, oolong tea capsules, black tea capsules, yellow tea capsules, others. It is also segmented by distribution channel into hypermarkets & supermarkets, specialty stores, online stores, convenience stores, and others, and by application into residential and commercial.
The tea capsules market covered in this report is segmented by product type into red tea capsules, oolong tea capsules, black tea capsules, yellow tea capsules, others. It is also segmented by distribution channel into hypermarkets & supermarkets, specialty stores, online stores, convenience stores, and others, and by application into residential and commercial.
Increasing consumption of tea is predicted to boost demand for tea capsules over the forecast period.According to the International Institute of Sustainable Development (IISD), tea has become the second most popular beverage, with 3 billion cups consumed every day across the globe.
According to a World Atlas report published in September 2020, China produces more than 2 million tonnes of tea, making it the world’s leading manufacturer of tea, and India ranks second on the list with a tea production rate of 1.2 million tonnes. Furthermore, according to the Global Dubai Tea Forum, per capita consumption of tea is projected to increase to 37.7 litres by the end of 2021. Growing per capita consumption is likely to drive the demand for tea capsules in the near future.
High prices of tea capsules are projected to hinder the growth of the market.In addition to this, changing consumer preferences towards healthy options in hot beverages such as almond & maple hot chocolate, warm spiced coconut-almond milk, hot lemon water, apple cider with cinnamon, and others are likely to hamper the demand for tea capsules in the forecast period.
Additionally, the rising price of tea is anticipated to have an adverse effect on the tea market, including powder tea and capsule tea. For instance, in April 2021, according to commodity market outlook report, published by world bank, the average tea price $/kg increased to $3.09/kg in Q3, 2020 from $2.57/kg in Q2, 2020.
The players engaged in the manufacturing and selling of tea capsules are adopting various strategies, such as mergers and acquisitions, new product launches, and plant capacity expansion, in order to maintain their position in the competitive business environment.For instance, in October 2020, Melitta Single Portions, a Florida-based beverage company is collaborating with SABIC’s TRUCIRCLE™ range of solutions and services to develop its ground-breaking new premium organic tea capsules made from certified circular polypropylene (PP) that employs recycled plastic feedstock.
The launch signified an innovative use of recycled, transparent plastic tea capsules in the industry, as well as an exciting step toward a more sustainable future with items that are easier to recycle and contribute to the creation of a circular economy for plastics.
In December 2020, Layn Natural Ingredients Corp., a China-based ingredients supplier specialising in natural extracts and other solutions, acquired Wagott Bio-tech for an undisclosed amount. The purpose of this equity acquisition is to integrate and leverage resources, combining intellectual property and advantages in management, products, processes, and relationships to deliver increasing compelling value to customers. Wagott Bio-tech is a USA-based manufacturer of green tea caffeine, green tea extracts, and other herbal extracts.
The countries covered in the tea capsules market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The tea capsules research report is one of a series of new reports that provides tea capsules statistics, including tea capsules industry global market size, regional shares, competitors with tea capsules share, detailed tea capsules segments, market trends and opportunities, and any further data you may need to thrive in the tea capsules industry. This tea capsules research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06284501/?utm_source=GNW
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