London, 23 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the hot drinks market in APAC 2015-2019, which is expected to grow at a CAGR of 5.66% by revenue and 4.52% by volume during the forecast period of 2014-2019.
High consumption of hot drinks such as tea, coffee, and chocolate-based drinks is one of the primary factors that boost growth in this market. The increasing penetration of supermarkets and hypermarkets coupled with a rise in the disposable income of the people in this region are some of the factors that facilitate market growth. Also, factors such as higher standards of living, an affinity toward westernization, and the health benefits linked to these drinks contribute towards the growth of this market.
“Even though tea still remains the market leader, the coffee culture and market are witnessing galloping growth in these traditional tea drinking states. In many APAC countries, this particular culture is considered to be associated with a western lifestyle,” says Faisal Ghaus, Vice President of Technavio.
“The urban population is often exposed to and is familiar with the idea of westernization. As a result of which, they adhere to western habits and lifestyles without much difficulty.”
Key Market Drivers:
- Upward Shift in Consumer Preference Scale.
- Product Innovations in Health Segment.
- Availability of Various SKUs.
- Association with Feel-good Factors.
Key Market Trends:
- Shift toward Coffee Culture.
- Gradual Increase in Convenience Product Segment.
- Internet Retailing and Home Shopping.
- Introduction of Single Serving Product Stick-type Chocolate-based Products.
Key Market Vendors:
- Ajinomoto General Foods
- GlaxoSmithKline
- Nestlé SA
- Tata Global Beverages Ltd.
- Unilever
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
