Hot drinks is expected to register moderate constant value growth in 2023, though volume sales are expected to decline, driven by a poor performance in coffee. Continuing economic uncertainty as a result of Russia’s invasion of Ukraine and high inflation is continuing to have an effect and consumers are expected to be highly price sensitive and prioritise value for money.
While coffee remains the most popular hot drink in Georgia in 2023, it is expected to register retail volume decline for the second year in a row. Significant price hikes is dampening volume sales, with consumes also trading down to cheaper brands.
Two global players, that is Jacobs Douwe Egberts and Nestlé SA, continue to lead the competitive landscape, with both accounting for two-fifths of value share. They are the only companies with a double-digit value share and in 2023 they gain further value share, as their economies of scale help them to cope better with the global inflationary climate.
While small local grocers continue to account for most volume sales, they have lost significant share over the review period, as modern grocery retailers continues to open across the country - both franchise and company-owned chains. In particular, convenience stores and supermarkets now have a sizeable volume share.
While performance is expected to be muted for hot drinks through retails channels in 2023, the opposite is true for foodservice, where volume growth is expected to be in the double-digits. Increasing numbers of inbound tourists, as well as an influx of newly-arrived immigrants from Ukraine, Russia and Belarus, is boosting volume sales.
While hot drinks will see increasing volume and constant value sales over the forecast period, growth will be modest. Tea will be the strongest performer, in particular fruit/herbal, as consumers seek functional benefits from their hot drinks.
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Hot Drinks
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