Opportunities in the Global Hot Drinks Sector 2024

Provides an overview of current hot drinks scenario regarding the future outlook in terms of ingredients, product claims, labeling, distribution, and packaging. The analysis also covers regional overview across five regions - Asia-Pacific, Middle East and Africa, Americas, Western Europe, and Eastern Europe - highlighting industry size, growth drivers, latest developments, and future inhibitors for the regions.

The global hot drinks sector recorded value sales of $244.9 billion in 2023 and is forecast to reach $310.1 billion in 2028, registering a compound annual growth rate (CAGR) of 4.8%. Asia-Pacific was the largest region, accounting for a value share of 40.2%, followed by the Americas with a 23.5% share. Hot coffee was the largest category, amassing a value share of 60%, followed by hot tea with a share of 33.4%. Among all the categories, hot coffee is forecast to record the fastest value CAGR during 2023-28 (the forecast period) at 4.9%. China, the US, and Japan were the largest markets for hot drinks globally in 2023.

Key Highlights

• With growing consumer affinity for new and novel flavors in hot drinks, there has been an increase in demand for unusual and uncommon flavors. Consumers are looking for innovative ingredients that provide a unique sensory experience. As a result, manufacturers are formulating hot drinks with new ingredients to appeal to consumers. The hot drinks sector is highly regulated in terms of labeling, while manufacturers are expected to produce clean-label items with good-quality ingredient formulations. Consumers are increasingly opting for products that provide clear information. Therefore, brands are focusing on strengthening their communication on pack labels, to increase safety in product usage.

Scope

This report brings together multiple data sources to provide a comprehensive overview of the global hot drinks sector, analyzing data from 108 countries. It includes analysis on the following:

• Sector overview: Provides an overview of the current sector scenarios in terms of ingredients, manufacturer claims, labeling, and packaging. The analysis also provides a regional overview across five regions-Asia-Pacific, Middle East and Africa, the Americas, Western Europe, and Eastern Europe-highlighting sector size, growth drivers, the latest developments, and future challenges for each region.
• Change in consumption: Provides an overview of consumption changes among the coffee and tea categories at global and regional levels over 2018-28.
• High-potential countries: Provides risk-reward analysis of the top high-potential countries in each region based on market assessment, economic development, governance indicators, sociodemographic factors, and technological infrastructure.
• Country and regional analysis: Provides a deep-dive analysis of 10 high-potential countries covering value growth during 2023-28, key challenges, consumer demographics, and key trends. It also includes regional analysis covering the future outlook for each region.
• Competitive environment and brand shares: Provides an overview of the leading companies and brands at global and regional levels. Market shares of brands and private labels in each region are also detailed.
• Key distribution channels: Provides an analysis of the leading distribution channels in the global hot drinks sector in 2023. It covers hypermarkets & supermarkets, convenience stores, e-retailers, food & drinks specialists, department stores, “dollar stores”, variety stores & general merchandise retailers, cash & carries & warehouse clubs, and others.
• Packaging analysis*: The report provides percentage share (in 2023) and growth analysis (during 2023-28) for various pack materials, pack types, closures, and primary outer types based on volume sales of hot drinks.

Reasons to Buy

• Manufacturers and retailers seek latest information on how the market is evolving to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities of growth within the sector in the region
• The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape and demographic analysis, that can help companies gain insight into the country specific nuances
• The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, than can help companies in revenue expansion
• To gain competitive intelligence about leading brands in the sector in the region with information about their market share and growth rates