New York, United States, April 11, 2024 (GLOBE NEWSWIRE) -- Hot drink packaging refers to the materials and containers used to store, transport, and serve hot liquids such as tea, coffee, and other similar beverages. The primary goal of this packaging is to ensure the safe and convenient consumption of hot beverages while maintaining their quality, flavor, and temperature. Various packaging options are used depending on the nature of the beverage, the intended purpose (such as takeout or dine-in), and customer preferences.
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Increasing Consumption of Hot Beverages Drives the Global Market
The increasing worldwide consumption of hot beverages, such as coffee and tea, is a major catalyst. With the growing number of individuals integrating hot beverages into their everyday schedules, there is a rising need for appropriate packaging. In 2024, the projected average volume per person in the Hot Drinks market is 1.93kg. These figures illustrate the global hot drinks industry's substantial financial returns and expansion opportunities.
Moreover, a significant number of individuals find the act of consuming plain hot water or hot lemon water to be comforting and advantageous. Hot water can aid in maintaining hydration and potentially alleviate congestion, enhance digestion, alleviate stress, and provide a sensation of warmth. Such factors drive market growth.
Innovation in Sustainable Packaging Creates Tremendous Opportunities
Researching and investing in compostable, biodegradable, or recycled materials can help businesses meet the growing demand for eco-friendly products. One example is PlasticFri, which sells a variety of products with unique features that set them apart from the competition. Films and fibers form the basis of these products. Made from fiber sourced from responsibly managed forests, the PlasticFri Cup is a single-use paper cup that can be used for both hot and cold beverages. There will be an increase in demand for these items over the projection period because they offer great potential for new approaches to environmentally friendly packaging.
Regional Analysis
North America is the most significant global hot drinks packaging market shareholder and is expected to expand substantially over the forecast period. In industrialized nations like the US, where coffee and tea consumption is rising, the demand for hot beverages is expected to outstrip supply. The people of the United States drink 400 million cups of coffee daily. An American who drinks coffee alone typically has three cups a day. These numbers add up, given that 150 million Americans drink a lot of coffee. Moreover, prominent companies like Alterra Coffee Roasters and Black Rifle Coffee Company have a large portion of the market and loyal customers, so it's safe to assume this trend will continue.
Furthermore, companies are merging with other market players for sustainable packaging to increase their market share. For instance, TiMELESS, a recently patented Japanese technology, will be marketed in the United States and Mexico by NuZee, a co-packer of single-serve specialty coffee formats and a coffee technology innovator located in Richardson, Texas. According to NuZee, TiMELESS is a novel flexible film sealing technology that does away with the requirement for one-way plastic degassing valves, which are widely used in pet food, coffee, and other industries.
Key Highlights
- The global hot drinks packaging market size was valued at USD 11.2 billion in 2022. It is expected to reach USD 16.10 billion by 2031, growing at a CAGR of 4.12% during the forecast period (2023–2031).
- Based on product, the global hot drinks packaging market is segmented into coffee, tea, and others.The coffee segment dominates the global market.
- Based on material, the global hot drinks packaging market is segmented into glass, plastics, and others.The glass segment owns the highest market share.
- North America is the most significant global hot drinks packaging market shareholder and is expected to expand substantially over the forecast period.
Competitive Analysis
The key global hot drinks packaging market players are Bemis Company Inc., Alcoa Corporation, Sonoco Products Company, Crown Holdings, Inc., Saint-Gobain S.A., Amcor Ltd., Reynolds Group Holdings Limited, Stora Enso; Mondi PLC., and Tetra Laval International S.A.
Market News
- In June 2023, UK-based food packaging supplier Celebration Packaging introduced a new eco-friendly bamboo fiber hot drink cup line.
Global Hot Drinks Packaging Market: Segmentation
By Product
- Coffee
- Tea
- Others
By Material
- Glass
- Plastics
- Others
By Regions
- North America
- Europe
- Asia-Pacific
- Central and South America
- The Middle East and Africa
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