The global hot drinks market size was valued at USD180.31 billion in 2020 and is projected to grow at a CAGR of over 6% during the forecast period to reach USD257 billion by 2026, on account of increasing awareness of healthy lifestyle. Other main factors contributing to the growth of this market are price, convenience, and taste. The demand for healthy hot drinks such as green tea, detox coffee, organic tea, and coffee is growing due to the numerous health benefits provided by these products such as relaxation of brain muscles, increased fat burning, prevention of cardiovascular disease, among others.
Customers nowadays prefer tea flavors that are unique and different, as well as authentic and high-quality. Tea producers highlight tea’s high quantities of flavonoids. Therefore, consumers are increasingly viewing it as a beverage with various health benefits. Moreover, the emergence of specialty coffee shops around the world has further contributed to the growth of coffee in the hot drinks market. Hot drink products that are presently available can be prepared and consumed in a matter of minutes. The convenience, ease of preparation, control over the strength of the completed drink, and, most importantly, the ability to have the beverage whenever and wherever they choose are all advantages of these items for the consumers. Instant coffee sachet is also gaining popularity among consumers in the hot drinks market. Companies are coming up with new and innovative products which include new varieties of tastes. For instance, Starbucks recently introduced premium instant coffee in three different flavors, medium roast, dark roast, and blonde roast. The flavor contains milk chocolate, nuts, and dark chocolate.
The global hot drinks market can be segregated into product type, distribution channel, region, and company. Regionally, Asia-Pacific is expected to be the fastest-growing region in the forecast period. Globalization and urbanization particularly in developing countries such as India, China, etc. are further propelling the growth of this market. Moreover, the market expansion in this region is being driven by a fast-growing middle-class population and growing brand awareness of hot drink products among consumers. However, despite urban consumers’ increasing disposable incomes, they still favor products that provide better value for money through reduced prices or value-added features. The increased variety in the range of hot drinks products offered by companies is driving the demand for the hot drinks market in Asia-Pacific as well as across the globe.
Nestl? S.A., JDE Peet’s, Starbucks Corporation, Unilever PLC, The J. M. Smucker Company, The Kraft Heinz Company, Strauss Group Ltd., and Tata Consumer Products Limited, are a few of the prominent players operating in the global hot drinks market. Owing to the changing tastes and preferences of consumers, there
have been rapid developments in hot drinks products by various market players. For instance, in 2021, Pret A Manager partnered with JDE Peet’s to expand its at-home coffee range, which includes two Nespresso-compatible coffee pod variants, as well as ground and whole bean coffee.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
- To analyze the historical growth in the market size of the global hot drinks market from 2016 to 2020.
- To estimate and forecast the market size of the global hot drinks market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast the global hot drinks market based on product type, distribution channel, region, and company.
- To identify dominant region or segment in the global hot drinks market.
- To identify drivers and challenges for the global hot drinks market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global hot drinks market.
- To identify and analyze the profile of leading players operating in the global hot drinks market.
- To identify key sustainable strategies adopted by market players in the global hot drinks market.
Key Target Audience:
- Hot drinks manufacturers, suppliers, distributors
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers.
- Organizations, forums, and alliances related to hot drinks.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global hot drinks market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Global Hot Drinks Market, By Product Type:
- Global Hot Drinks Market, By Distributional Channel:
- Departmental Stores
- Coffee Shops
- Global Hot Drinks Market, By Region:
- United Kingdom
- South Korea
- United States
Middle East & Africa
- Saudi Arabia
- South Africa
Company Profiles: Detailed analysis of the major companies present in the global hot drinks market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).