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The South Korea coffee and tea capsules market reached a value of US$ XX Million and US$ XX Million respectively in the year 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 12.5% and 11.2% during 2021-2026 respectively. 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 which have ingredients disposed in their filter. The body includes a side wall which extends from an end wall to an opening with a cover. These capsules generally include coffee and tea which are generally utilised by tea and coffee vending machines in both commercial and domestic spaces. In South Korea, consumption of beverage capsules has been increasing rapidly due to strong coffee and tea culture. Consequently, the demand for coffee, tea and other beverages is experiencing a significant growth in the country.
South Korea is expected to experience a huge demand for coffee and tea capsules in the coming years. This is due to the fact that there is an increasing trend of in-house coffee consumption, as more people enjoy their own coffee at home or at work. While coffee is trending among millennial and Generation Z consumers, tea is also gaining traction among the younger generation. Innovation is another major factor that will aid to maintain a constant demand for beverage capsules in the market. In 2012, after the expiry of the design patents by Nestle, numerous F&B companies in South Korea entered into the beverage capsule market by developing their own machines and capsules at lower price points. Moreover, the increasing number of coffee shops and demand for freshly brewed coffee has also boosted the demand for coffee and tea capsules in South Korea.
This report provides a deep insight into the coffee and tea capsules market in South Korea covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the South Korean coffee and tea capsules industry in any manner.
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