Hot Beverages (Coffee and Tea)
The global market for Hot Beverages (Coffee and Tea) in terms of volume is projected to exceed 19 million tons by 2024 driven by a wealth of factors encouraging increased frequency of consumption such as improving publicity surrounding the health benefits of coffee and tea drinking; convenience of instant coffee and RTD tea innovations and launch of single cup brewers, all of which tend to influence behavioral frequency of consumption. Other important factors that are expected to benefit market prospects include innovative packaging formats that are portable, easy-to-use, and easy-to-consume; launch of weightloss gourmet coffee, protein fortified coffee and slimming tea targeted at the growing base of obese and health conscious population; rise of iced tea as a mainstream RTD beverage product; chilled addiction among consumers and the ensuing popularity of cold brewed coffee. Innovation ranks as key to market growth right from kid-friendly coffee drinks, bubbly (carbonated) coffee drinks, tea-infused dishes, Matcha powdered green tea leaves as a more potent source of nutrients than steeped green tea, specialty iced teas with exotic ingredients such as sweet condensed milk or coconut milk, all promising to give a fresh twist to consumer demand and consumption patterns. Noteworthy innovative launch of specialty coffee in regional tastes include Thai/Vietnamese iced coffee; Greek Frappés, Vienna, Greek, Georgian, Turkish and Irish coffee, Italian espresso, among others. Also helping drive consumption patterns are flavored tea and beverages brewed to perfection to capitalize on the indulgence trend. Noteworthy flavor innovations in coffee include maple walnut coffee, rosemary latte, honey cinnamon latte, iced caramel latte, tart flavored coffee etc. The success of flavors in the coffee segment is leading to the rise of coffee-inspired teas with lattes and mochas making their way into tea flavors. Asia-Pacific represents the largest and the fastest growing market with a volume CAGR of 5.0% over the analysis period. Presence of two of the leading producers and consumers of coffee and tea, China and India; rise of the coffee culture among the burgeoning middle class population; rising income levels; rapid urbanization; growing brand awareness; Westernization and preference for lifestyle products; improving retail infrastructure and availability of premium and specialty coffee and tea varieties and mushrooming specialty coffee outlets, represent key growth drivers in the region.
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Company and Industry News & Stories
- With the Aim to Expand in International Regions and Key Markets, Lavazza Plans to Acquire Mars Coffee Business with the Flavia and Klix Systems
- JDE Join Hands with Ofcay in a Move to Open Up New Growth Opportunities in the Turkish Hot Beverages Market
- Kraft Heinz Canada Acquires Ethical Bean Coffee, a Leading Roaster of 100% Fairtrade, Certified Organic Coffee
- Harris Tea Inks Agreement with Redco Foods to Acquire Red Rose® and Salada® Tea Brands in the U.S. Market
- Coca-Cola to Acquire Costa, a London-Based Coffee Chain, in a Transaction Valued at US$5.1 Billion
Outlook in Key Market Segments
- Through 2024, Coffee will remain the largest market, followed by Tea.
- Mental health, cardiovascular well-being and fitness and appearance benefits to spur the emergence of Tea as the fastest growing segment.
Product Definition & Scope
- There are two main varieties of coffee, coffee arabica and coffee robusta, which have the highest share in the world’s commercial coffee market. The processing method, altitudes of growth, size, density of the bean, and age of the bean have an influence on the flavor of the coffee beans, and based on these factors, the two varieties can be further classified commercially. Tea is a beverage, which is almost 2,000 years old. There are 3,000 varieties of tea available worldwide. The characteristics of tea are dependent on its growth environment; it’s processing and blending. There are basically three categories of tea: green tea, black tea, and oolong tea.
Timeline for Analysis
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Geographic Markets Analyzed
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Rest of World
Market Segmentation & Classification
- Product Segments:
- Coffee, and Tea
- Celestial Seasonings, Inc.
- Costa Limited
- JDB (China) Beverages Ltd.
- Luigi Lavazza S.p.A.
- Nestlé S.A.
- R. Twining and Company Limited
- Tata Global Beverages
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