Global Customized Tea Packaging Market – Insights
Packaging of food items play an important role in increasing the shelf life of packaged food products by preserving the food items from external environment such as changes in climatic conditions or microbial contaminations. Various novel packaging solutions are used to attract consumer base as well as to provide sustainable packaging solutions such as active, smart, interactive, and intelligent packaging technologies. Customized packaging is a type of packaging where overall packaging or printing on the packet is personalized as per the requirements of the customer.
Among packaging types, flexible packaging segment in customized tea packaging market is expected to possess significant market share during the forecast period, owing to ease of packaging tea powder in pouches and bags with custom requirements. According to ‘Flexible Packaging Industry Overview’ published by Flexible Packaging Association, the flexible packaging industry had US$ 31.1 billion of sales in the U.S. in 2015. Moreover, flexible packaging uses fewer natural resources, less energy in manufacturing, and creates fewer greenhouse gas emissions. Therefore, such advantages offered by flexible packaging are expected to boost demand of the segment during the forecast period.
Among packaging materials, polymers & plastics are preferred packaging materials globally, for various fast-moving consumer goods (FMCG) products. According to report of ‘Plastic Packaging –the sustainable and smarter choice’, published in 2015, by Federation of Indian Chambers of Commerce & Industry (FICCI), around 83% of packaged food items were sold with plastic packaging in India, (69% in China), and (62% in the U.S.) in 2014. Various properties of plastic, enable it to deliver superior performance compared with alternative packaging materials such as glass, paper, and metals. Plastics are easily molded into any desirable shapes and sizes that resulted in packaging innovation and creation of consumer friendly packaging, which is expected to increase its demand in the customized tea packaging market.
However, owing to problems associated with disposal of plastic, various government authorities are focusing to ban plastic use. The National Green Tribunal (NGT) is considering to impose a ban in order to restrict the use of plastics for packaging of all non-essential items in FMCG sector. Therefore, as conventional plastic are non-biodegradable, other sustainable packaging options such as bio-degradable plastics are expected to drive demand during the forecast period.
The global customized tea packaging market was valued at US$ 1.96 billion in 2017, and is expected to register a CAGR of 3.1% in terms of revenue, over the forecast period (2018 – 2026), to reach US$ 2.52 billion by 2026.
Figure 1. Global Customized Tea Packaging Market Share, By Region, 2017
Source: Coherent Market Insights, 2017-18
Asia Pacific is expected to be the fastest growing region in customized tea packaging market, owing to increasing consumer preference towards packaged food items. According to India Brand Equity Foundation Report on Agriculture and Allied Industries, published in June 2018, packaged food industry in India is expected to cross US$ 65 billion by 2020.
Figure 2. Global Customized Tea Packaging Market Share, By Packaging Material, 2017
Source: Coherent Market Insights, 2017-18
Players operating in the global customized tea packaging market are adopting various growth strategies such as mergers and acquisitions to cater to increasing demand for customized tea packaging. For instance, in November 2018, Montagu Private Equity firm, announced its plans to acquire the Flexographic packaging division of the Eastman Kodak Company, which is a leading provider of graphics solutions for global packaging printing. Kodak’s Flexo business unit is one of the world’s leading providers of imaging technologies for the graphics customization of printed packaging materials.
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.
Good packaging increases the standard of an already strong product and provides its customer with a memorable unboxing experience. Customers look for more innovative and creative packaging options due to increasingly diverse needs. Therefore, changing consumer preferences is a major driving factor for customized tea packaging market. Customization offers personalization of a product packet, which can be given as corporate gift or can be sent to an individual as a personal gift. Customized packaging is specifically designed to appeal on a personal level.
By packaging types, flexible packaging is expected to grow at significant growth rate owing to advantages offered by this packaging type. Flexible packaging is a package or container made of flexible or easily yielding materials that, when filled or closed, can be readily changed in various desired shape. According to Flexible Packaging Facts & Figures 2015, released by Flexible Packaging Association, flexible packaging is the second largest packaging segment in the U.S., garnering about 19% of the U.S. (US$ 164 billion) packaging market in 2015.
Among regions, Asia Pacific is expected to hold a significant market share during the forecast period, due to substantial demand for customized tea packaging from Asian countries as tea is one of the major crop products in these countries. For instance, according to statistics released by Food and Agricultural organization (FAO), production of tea in India increased to 1.32 Mn tones in 2017, from 1.25 Mn tones in 2016. Tea is a preferred drink amongst the populace of Asian countries, which makes customized tea packaged bags a gifting choice for commercial as well as personal purposes.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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