Global Hot Beverages Market

The global hot beverages market size was valued at USD 76 billion in 2018 and is anticipated to expand at a CAGR of 3.10% and 2.90% in terms of value and volume during the forecast period.

Infinium Global Research Analysts

Global Hot Beverages Market: Consumer Behavior Analysis by Countries, Buying Pattern Analysis, Demographics, Trends Analysis, Survey Findings and Results, Leading Companies and Their Market Strategies

  • Published : May, 2020

  • Rep Id : GHBM1152020

  • No. of Pages : 187


Infinium Global Research and Consulting Solutions has published a comprehensive research study based on a survey conducted to analyze the buying patterns, consumer behavior, and impact of pricing on buying decisions. The report also provides insights into the marketing strategies and steps taken by the companies to retain their market position in the local as well as global market. The study also provides insights into the factors affecting the buying decisions, consumer preferences, and the demographic factors promoting the growth of the products of the global hot beverages market.

 

The global hot beverages market size was valued at USD 76 billion in 2018 and is anticipated to expand at a CAGR of 3.10% and 2.90% in terms of value and volume during the forecast period. Hot beverages are served the world over in the food‐service industry as well as at residences and other venues. Hot beverages are the perfect way to warm up in the winter as sipping a hot drink stays warm on winter’s chilly days and nights. Hot beverages such as coffee and tea are made at temperatures that are satisfactorily high to cause immediate and serious risk for scald injuries. On the other hand, several research studies have been performed to recognize the preferred consumption temperatures for hot beverages. In the early stage of 2020, food & beverage companies are facing significantly reduced consumption as well as disrupted supply chains due to the spreading of coronavirus across the world. At-home consumption of hot beverages has increased, but out-of-home consumption that generates the highest margin has come to decline. There may be long-term changes in customer behavior and demand.

 

The Health Benefits of Hot Beverages are Boosting the Growth of the Global Market

The hot beverages market is assumed to grow in the forecast owing to the rising interest of consumers in exotic coffee flavors coupled with the consumer's preference for hot beverages with the benefits of de-stress and detoxification. According to research by Harvard University School of Public Health, the polyphenols from coffee or tea consumption can lower the risk of type 2 diabetes and help improve insulin secretion and sensitivity. Hot beverages such as coffee, white teas, and green teas can help boost the immune system that increases the demand for hot beverages. On the other side, the increasing inclination of consumers and rising demand for iced tea and other chilled beverages might restrict the growth of the hot beverages market. Moreover, the introduction and advances in the ready-to-drink hot beverages like tea and coffee are likely to showcase growth opportunities for the hot beverages market during the forecast period.

 

The U.S., China, and India are the Most Lucrative Countries for the Hot Beverages

Figure 1 Global Hot Beverages Market by Country, 2018 (Revenue % Share)

Global Hot Beverages Market by Country

Source: Infinium Global Research Analysis

 

The U.S. is the largest coffee consuming nation as it holds approximately 74% market share of North America hot beverages market and 15.89% market share of the global hot beverages market. The people from the U.S. drink about 146 billion cups of coffee per year. This statistic clearly shows just how obsessed Americans are with this tasty beverage. China's hot beverages market offers high potential in the future as the coffee industry and coffee shop operation represent highly promising blue sea business areas. China holds a 14.78% market share of the global hot beverages market followed by India, Japan, and Germany. In 2017, China imported around 25,000 metric tons of black tea, almost 40 % more than the previous year. India is also the world's largest hot beverage drinking nation. It is the fastest-growing market due to the large population base.

 

Figure 2 Most Important Factor for Consumers

Most Important Factor for Consumers

Source: Infinium Global Research Analysis

 

Infinium Global Research and Consulting Solutions has published a comprehensive research study based on a survey conducted to analyze the buying patterns, consumer behavior, and consumer preferences. The above figure shows the most important factors preferred by the consumer before consuming hot beverages. Approximately 34% of consumers prefer good taste as a highly important factor while 25% of consumers prefer sugar quantity as a highly important factor. Good taste, as well as ingredients, represents the most influential factors that determine the demand for hot beverages. Value and variety are less important factors for the consumers as compared to good taste and sugar quantity.

 

Among the regions, Asia Pacific dominates the global hot beverages market. The factors such as rising the population, rapidly increasing middle-class population, rising income levels, and growing brand awareness are driving the market growth in this region. The consumption of hot beverages in Asia-Pacific is driven by factors including rising disposable incomes in countries such as Malaysia and India, which has resulted in a growing demand for premium hot beverages. The increasing coffee culture in China due to the expansion of western coffee retail chains is also contributing to the growth of hot beverages in the Asia Pacific region.

 

Research Methodology

Primary Research

Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached through

         Key Opinion Leaders associated with Infinium Global Research

         Internal and External subject matter experts

         Professionals and participants from LinkedIn, Hoovers, Factiva and Bloggers

         Our primary research respondents typically include

         Executives working with leading companies in the market under review

         Product/brand/marketing managers

         CXO level executives

         Regional/zonal/ country managers

         Vice President level executives.

 

Methods of Primary Research

         Computer-assisted telephone interview (CATI)

         Computer-assisted personal interview (CAPI)

         Computer-assisted web interview (CAWI)

         Questionnaires/Surveys

 

Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources. The secondary sources of the data typically include

         Company reports and publications

         Government/institutional publications

         Trade and associations’ journals

    Databases such as WTO (World Trade Organization), OECD (The Organization for Economic Co-operation and Development), Hoovers, Factiva, and the World Bank, among others.

        Websites and publications by research agencies


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