According to the latest report by IMARC Group, titled “Philippines Coffee and Tea Capsules Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Philippines coffee and tea capsules market reached a value of US$ XX Million in 2018. 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.
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 2024, expanding at a CAGR of XX% during 2019-2024.
- 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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Phone No: (D) +91 120 433 0800 | www.imarcgroup.com
Americas :- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331