Global Hot Drinks Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Hot Drinks Market” is an upcoming report at Market.biz. Key factors have been collected and studied, assessed and analyzed comprehensively through exhaustive primary and secondary research efforts to accurately present details of the global hot drinks market. Besides revenues for segments, global, regional, and country-wise market revenue segmentation will be presented in the final report. Key trends, revenue growth driving factors, restraints, and opportunities are included as well. The company profiles of key players comprise detailed information, recent developments, strategies, and acquisitions & mergers, etc. The global hot drinks market is segmented into product type and region/ countries.
Hot drinks are beverages that are served hot in contrast to cold drinks. It generally includes tea, coffee, hot chocolate, apple cider, mulled wine, coffee, etc.
Growing awareness regarding health and wellness has been driving demand for healthy products. Health-conscious individuals are consuming beverages such as various types of tea and coffee owing to the various health benefits these products offer. The rising consumption of hot drinks is leading companies to improve the quality and launch products with added tastes and nutrients. Coffee vending machines are popular contraptions in workplaces and the installation of these machines in office space environments is increasing. These factors are expected to surge target market growth.
Consumer preference for hot drinks over carbonated drinks due to its negative impacts on health are among major factors expected to lead to hot drinks consumption growth. The rising popularity of coffee and its different variants and increasing brand awareness are leading young consumers to spend more on these products. Moreover, older consumers are becoming aware of the benefits that tea and coffee offer in terms of checking obesity, blood pressure, and heart disease. Increasing professional life workloads and pressure are causing individuals to opt for drinks that can regularize stress and detoxify the harmful effects of excessive smoking. Demand for products such as green tea is gaining traction to achieve this end. In addition, manufacturers are introducing Ready-to-Drink (RTD) beverages such as coffee pods which are similar to tea bags and are prepared by dipping it in water. Such innovations are some of the factors that are expected to fuel the global hot drinks market’s growth over the coming years.
By Product Type: The coffee segment in comparison to other product type segments, is expected to continue its dominance over the forecast period. Demand for organic coffee due to its chemical-free content and the absence of pesticides are among the key factors that are contributing to this segment’s growth. Manufacturers are investing in the production of unique flavors and varieties with the aim of achieving an expanded coffee consumer base over the next 10 years.
The Asia Pacific market is projected to continue to dominate the global market in terms of revenue share over the forecast period. Major factors that regional market growth can be attributed to are the expanding of franchise outlets and the increasing awareness of brands among individuals. Increasing consumption of hot drinks, especially among millennials, and rising spending capacity are some of the primary factors that are expected to drive market growth in the region. The introduction of organic hot drinks is further expected to increase the consumption of hot drinks among millennials. Increasing brand promotion through social media and other advertising outlets is expected to increase product visibility in the region leading to market growth.
Europe is projected to account for the second-highest market revenue share over the next 10 years. Growing demand for coffee pods in this region is among the key factors for market growth. The UK has an expanding consumer base for RTD coffee products and is expected to be a major contributor to the market in the region.
The market in North America is projected to register a high Compounded Annual Growth Rate (CAGR) throughout the forecast period. The increasing prevalence of health issues in the US is leading individuals to prefer organic hot drinks over soft drinks or carbonated risks.
Segmentation: Global Hot Drinks Market
By Product Type:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Tazo Tea Company
- Tata Global Beverages
- Keurig Green Mountain (KGM)
- Costa Coffee
- Celestial seasoning Inc.
- Caffe Nero
- Ajinomoto General Foods Inc.
- Associated British Foods (ABF).
- HotShots Coffee
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