Mar 8, 2019   SOURCE: BusinessWire

Global Customized Tea Packaging Market to Surpass US$ 2.52 Billion by 2026 – Coherent Market Insights

The global customized tea packaging market was valued at US$ 1.96 billion in 2017, and is projected to exhibit a CAGR of 3.1% over the forecast period (2018–2026).

Key Trends and Analysis of the Customized Tea Packaging Market:

Increasing demand for environmentally safe packaging solutions is expected to propel growth of flexible packaging segment in the customized tea packaging market, owing to the benefits offered by flexible packaging. According to ‘Flexible Packaging Industry Overview’ published by Flexible Packaging Association, for production of flexible food service pouch, it requires 75% less energy than making a metal can for the equivalent amount of product, moreover it generates only 1/10th of CO2 emissions in production.

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Various key players are focused towards producing creative and eco-friendly packaging solutions. Various corporate competitions are being organized in order to motivate manufactures to produce innovative packaging offering. For instance, ‘The Better with Less – Design Challenge’ launched in 2017, was organized by Metsä Board, which was aimed to find new environment-friendly and functional packaging solutions for some of the world’s most frequently used and fastest growing types of consumer packages. The winning design ‘Stretching Inner Part’ by Iiro Numminen was a corrugated box that allows variable sized products to be packed without the need for bubble wrap. Such corporate initiatives are expected to propel the customized tea packaging market growth.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/customized-tea-packaging-market-2531

Key Market Takeaways:

  • Among regions, Asia Pacific is expected to possess significant market share during the forecast period, owing to increasing consumer preference towards tea as a preferred drinking choice. According to statistics released by Food and Agricultural Organization, world tea production was about 6 million tons in 2017, of which 86.2% production was by Asia. Moreover, increasing number of packaging industry in countries such as India is also expected to aid the customized tea packaging market growth in the region. For instance, according to fact book released by ‘interpack alliance’, Indian packaging industry revenue was US$ 32.0 billion in 2015, and is expected to reach US$ 73.0 billion by 2020.
  • Some of the major players operating in the global customized tea packaging market include Solaris Tea, Blue Ridge Tea & Herb Company Ltd., Clipper Tea Co., THE CUSTOM PACKAGING, Roastar, SWISS PACK PVT LTD, Salazar Packaging, Inc., Pacific Bag, Custom Co-Pak, LYNNPAK PACKAGING LTD., and Scholle IPN

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.