Philippines Coffee and Tea Capsules Market Outlook, Statistics, Industry Trends, Overview & Forecast
by Rahul Rastogi Market Research AnalystOver the years, the Philippines coffee and tea capsules
market has witnessed healthy growth. This can be attributed to the changing
demographics, hectic schedules of the working population, flourishing
e-commerce industry and expanding distribution channels in the region.
According
to the latest report by IMARC Group, titled “Philippines Coffee and Tea
Capsules Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast
2018-2023”, the Philippines coffee and tea capsules
market value reached a of US$
XX Million in 2017. Although coffee and tea capsules have gained
traction in the international market, the demand for these capsules is rapidly
advancing in Asian countries like the Philippines, Korea and Thailand. Amongst
these, the Philippines is a coffee-producing country and provides four viable
coffee variants: Robusta, Arabica, Excelsa and Liberica (Barako). Moreover, the
country has one of the world’s largest youth population with a median age of 23
years which prefers coffee over tea. As a result, the consumption of coffee in
the country is experiencing a growth rate of 6% annually. Further, due to
hectic work schedules, the working population is increasingly relying on
versatile and easy-to-brew coffee mixes and tea blends which only take a couple
of minutes for preparation.
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Report: https://www.imarcgroup.com/request?type=report&id=1064&flag=B
Market
Trends:
The
market for single-serve coffee and tea capsules in the Philippines is being
driven by the availability of a vast range of product variants and constant
innovations by manufacturers. In addition to this, consumers are now willing to
purchase coffee machines so as to prepare barista-like coffee at their homes
which, in turn, is impelling the growth of the coffee capsules market. Apart
from this, the Philippine Government is encouraging healthy lifestyle choices
which has increased awareness among consumers and led them to incorporate
beneficial tea variants in their diet. On account of this and the increasing
number of tea salons in the country, the tea capsules market is being catalyzed
at a strong pace, especially in the urban areas. Additionally, the inflating
income levels, flourishing e-commerce industry, rising influence of social
media and expanding distribution networks in the country are expected to
bolster the growth of the coffee and tea capsules market. Looking forward, the
market is projected to reach a value of US$ XX Million by 2023, expanding at a
CAGR of XX% during 2018-2023.
Market
Summary:
The
competitive landscape of the coffee capsules market has been examined with some
of the key players being Coffee Planet LLC, Nespresso Philippines, Nestle Dolce
Gusto, PODiSTA, Illy S.p.A., Luigi Lavazza S.p.A., Di Stefano, Coffee Bean
& Tea Leaf, The Vault and K-Cups Drinks Enterprises. On the other hand,
some of the leading tea capsule players operating in the market include Nestle
Dolce Gusto, Keurig Dr Pepper Inc., Coffee Bean & Tea Leaf and K-Cups
Drinks Enterprises.
Browse Full Report with TOC
& List of Figure:
https://www.imarcgroup.com/philippines-coffee-tea-capsules-market
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Created on Feb 22nd 2019 01:00. Viewed 376 times.