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The Australia coffee and tea capsules market reached a value of US$ 736 Million in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 1,413 Million by 2026, exhibiting a CAGR of 11.3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Beverage capsules refer to single-serve containers that have ingredients deposited in their filter. These capsules generally include coffee and tea, which are widely utilized in vending machines in both the commercial and domestic spaces. With the growing cafe culture and rising demand for ready-to-drink hot beverages in Australia, consumers have become more inclined toward tea and coffee capsules for preparing these beverages.
The consumption of coffee in Australia continues to exhibit strong growth among millennials and generation Z consumers. Tea also represents a vital part of modern Australian culture due to its British origin. Owing to this, various cafes and restaurants in Australia employ tea and coffee capsules as they provide a consistent taste and minimize degradation of functional ingredients like flavonoids, vitamins minerals and antioxidants. These capsules also prevent tea leaves and coffee grounds from contamination as well as protect the filter from tearing. Also, due to hectic lifestyles, consumers prefer beverage capsules as they help in preparing a cup of coffee or tea without mixing extra ingredients. Apart from this, with inflating incomes, consumers are now willing to spend more on premium products. As a result, the leading companies are coming up with innovations in terms of flavor, variety and price of tea and coffee capsules, which in turn has helped them to expand their consumer base across the region.
The competitive structure of the market has also been analyzed in the report, which is characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality.
Some of the leading players operating in the coffee capsule market are:
On the other hand, some of the leading players operating in the tea capsule market are:
Key Questions Answered in This Report:
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