The global hot drinks market is set for growth by 2028, with coffee leading at 52% of value growth, while tea grows fastest due to Asian markets and premiumisation. Coffee will drive 51% of volume growth, mainly in Latin America, the Middle East, and Africa. E-commerce, though slowing from 10% to 6% growth, remains the fastest-growing channel. Traditional retail, especially convenience stores, will see steady demand, driven by coffee, highlighting the need to adapt to evolving consumer preferenc
This report comes in PPT.
As the pandemic-fuelled grocery boom winds down, grocery retailers must contend with an increasingly challenging macroeconomic environment and a consumer base that is more demanding than ever before.
E-commerce is an opportunity, but convenience alone is not enough to drive consumers anymore. Foodservice, which suffered heavily during COVID-19, rebound by expanding offerings and favouring experiences.
Asia Pacific is a prolific region for investments, from a booming coffee-shop scene driven by a new generation of coffee drinkers, to driving most of the forecast value growth among hot drinks, with tea. But other regions also bring in nuances to understanding where consumers shop, from Latin America’s preference for small local grocers, to a booming private label industry in Western Europe.
Despite sales being concentrated in physical spaces, different strategies evolve to attend increased scrutiny by consumers, who want better quality, better convenience and more health and wellness from their hot drinks.
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