South Korea Coffee and Tea Capsules Market to Reach US$ 1,909.1 Million and US$ 19.3 Million, Respectively, by 2032, Impelled by Rising Demand for Convenience Foods

June 23, 2023 | Food & Beverages

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According to the latest report by IMARC Group, titled "South Korea Coffee and Tea Capsules Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," the South Korea coffee and tea capsules market size reached US$ 823 Million and US$ 8.8 Million, respectively, in 2023. Coffee and tea capsules are convenient single-serving units of ground coffee or tea enclosed in a small container, usually comprised of plastic or aluminum. They are designed to be compatible with specific coffee or tea brewing systems, such as coffee pod machines or single-serve brewers. They are individually sealed, which helps to preserve the freshness and aroma of the contents until they are brewed and also ensures a flavorful cup every time. As a result, they are gaining traction among the masses as they offer a quick and easy way to make a single serving of coffee or tea while eliminating the need to measure ingredients or clean up afterward, making them ideal for busy individuals or those with limited time.

South Korea Coffee and Tea Capsules Market Trends:

The market in South Korea is majorly driven by the widespread demand for convenience foods. Moreover, a significant increase in coffee consumption among the masses created a shift from traditional tea-drinking habits to the growing coffee culture, which is providing a boost to the adoption of coffee capsules as they provide a convenient way to enjoy high-quality coffee in the comfort of one's home. Also, there is also a growing interest in specialty teas and innovative tea flavors, which is driving the demand for tea capsules since they offer a convenient way to experience a variety of teas, including herbal blends, green tea, and fruit-infused options. Along with this, numerous leading companies in South Korea are heavily investing in marketing campaigns and branding strategies to create awareness and promote their products, including collaborations with popular cafes, endorsements by celebrities, and online influencers, thus creating a positive market outlook. Furthermore, continual technological advancements in coffee and tea capsule machines with advanced brewing systems, customizable options, and smart features are impacting the market favorably. Other factors, including rapid urbanization and easy product availability via online and offline organized distributed channels, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1,909.1 Million and US$ 19.3 Million by 2032, exhibiting a CAGR of 9.6% and 9% during 2024-2032, respectively.

Market Summary:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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South Korea Coffee and Tea Capsules Market to Reach US$ 1,909.1 Million and US$ 19.3 Million, Respectively, by 2032, Impelled by Rising Demand for Convenience Foods

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