16 Nov 23 | BRT: 12:20 PM - 16 Nov 23 | BRT: 01:00 PM
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In 2024, consumers are stressed. Hot drinks companies are responding in different ways. Watch our video to understand the three key innovation trends that are shaping the hot drinks market.
For more than 35 years, PLMA’s annual World of Private Label International Trade Show has brought retailers together with manufacturers to network with new and existing clients, explore new markets and drive business growth.
Renowned coffee chains from China and Kenangan Coffee in Indonesia have entered Singapore as a stepping stone for their international expansion. The strategy to enter Singapore is attributed to its status as a financial hub, as well as its visibility for international investors leading to future expansion. At the same time, local consumers are sophisticated, open to trying new flavours, and are willing to spend for their daily caffeine fix.
Amidst the cost of living crisis and an inflationary environment, tea in Asia Pacific remains a resilient category, owing to its inelastic demand. Nevertheless, stiff competition from other beverages remains, and this report seeks to analyse the various innovation strategies adopted by tea players to thrive in the long term. This includes responding to consumers’ health concerns, such as stress relief, mental wellbeing and boosting the immune system.
2023 may see more moderate levels of global inflation than 2022, but pricing and supply chains will remain the key challenge for coffee and tea.
With the rise of many local chained specialist coffee shops emerging across Asia Pacific, the future of coffee shops in Asia Pacific is likely to evolve into an environment with more local coffee shops in the short term, eroding the traditional stronghold of international coffee chains such as Starbucks, especially in markets like China and Vietnam.
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