This report covers the growth prospects of the global hot drinks market with segmentations based on the retail sales of products such as coffee, tea, and other hot drinks. Market shares for key geographies, including APAC, the Americas, and EMEA is further included in the report. It also presents an insightful analysis of the leading vendors in this market such as Associated British Foods, Jacobs Douwe Egberts, Nestle, Strauss, Tata Beverages, and Unilever.
Technavio’s market research analysts estimate the global hot drinks market to grow at a CAGR of around 5% between 2016 and 2020. The trend of drinking tea has deep-rooted cultural and traditional origins in many countries, which is one of the major drivers for the market growth. People in Asian countries, especially India, Japan, and China drink tea on a regular basis. EMEA dominates the global market for hot drinks, accounting for 35% of the overall market share. Most consumers in the region prefer hot tea.
The new market research report from Technavio provides a breakdown and analysis of the hot drinks segments by technology.
“Consumers are switching to plastic coffee pods to avoid the time-consuming coffee grindings and tamping process. Surging demand has made coffee pods a mainstream product, facilitating consumers to experience a luxury food service experience at home. For instance, The Nespresso CitiZ automatic espresso machine uses a unique extraction process,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
Coffee leads the hot drinks market, accounting for more than 58% of the overall market share. The availability of coffee variants and rising consumer habits of coffee drinking are the factors triggering this growth. Standard ground coffee is the most preferred coffee, occupying around 47% of the total market share.
The leading vendors in the global hot drinks market are Associated British Foods, Jacobs Douwe Egberts, Nestle, Strauss, Tata Beverages, and Unilever. The increasing competition among vendors may lead to the vendors reducing their product prices, which could negatively affect vendor margins and market growth. Therefore, companies are involving in constant research in their products and processes to stay up-to-date with the changing customer dynamics and industry scenario. In 2014, Nestlé introduced the VertuoLine at-home coffee and espresso maker, targeting the North American countries, thus posing a stiff challenge to leading players like Keurig and Tassimo.
A more detailed analysis is available in the Technavio report, Global Hot Drinks Market 2016-2020.
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