Increasing Popularity and Growing Health Consciousness to Fuel Growth in the Global Hot Beverages Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) May 09, 2012
Follow us on LinkedIn Global demand for hot beverages, which includes tea and coffee, would largely depend upon factors such as quality, health and premiumization. Product-wise, coffee is expected to garner significantly high sales than tea. However, growth in this market is expected to be constrained. On the other hand, increasing awareness about health benefits of tea is expected to garner relatively higher momentum for tea sales in the years ahead in volume terms. Health conscious consumers continue to drive tea to new heights of popularity, whereas expensive specialty coffees sustain extraordinary sales levels. Overall, future growth in the hot beverages market is expected to bank on major trends presently emerging in the market including increased focus on health drinks throughout the world, increased popularity of RTD (ready-to-drink) tea, and increasing efforts from tea and coffee manufacturers to boost sales of these beverages.
Coffee is regarded as the most familiar beverage globally with more than 400 billion cups of annual consumption. In terms of percapita consumption of coffee, European countries take the lead, with Finland recording the highest rate, followed by Norway, Ireland, Denmark, The Netherlands and Sweden among others. Asia and Africa are behind the other regions in terms of per capita consumption, although these regions show great market potential. Consumer spending is high in certain other countries such as Australia where prices are high. Over the years, the market has seen a sizeable rise in coffee consumption worldwide, which is seen predominantly in nations such as China and Russia.
Coffee market in the US received a boost with the introduction of innovative coffee drinks. Larger portion of the population have been exposed to a new level of premium coffee to be consumed both at home and away from home. This has been made possible by the popularity of coffee bars with superior quality coffee products. Brazil is the worlds largest exporter of coffee and one of the leading producers of hot beverages worldwide. On the other side, Japan leads the instant coffee market globally in terms of sales value. Specialty coffee is the most popular market in Japan. Japanese prefer mild, less acidic coffees, which are grown in areas such as Peru and on Jamaicas Blue Mountain. China, a major tea consuming market, is also witnessing a shift towards coffee consumption due to influence of western culture.
Demand for tea is on the rise worldwide. China ranks first in the production of tea in the world. Together with India, China produces more than half of the worlds tea. Green Tea segment has gained popularity with introduction of different flavors such as green lemon, green decaf and pure green. Economic crisis boosted the sales of low priced varieties of green tea. On the other hand, herbal and fruit teas segment was not buoyant and registered a fall in value and volume sales. With young generation entering the tea segment, players are coming up with innovative variants of tea. RTD (ready-to-drink) tea continues to witness substantial growth owing to the perceived health benefits offered by the product. RTD tea grew faster than soft drinks segment in 2008, due to diminishing popularity of carbonated drinks among affluent consumers. The industry is expected to witness growth in countries such as Latin America and Russia, due to increased health consciousness among affluent sections of the society. The industry is also expected to benefit from the increase in per capita consumption in Asia-Pacific region.
Europe represents the largest regional market for Hot Beverages worldwide in terms of volume as well as value sales, as stated by the new market research report on Hot Beverages (Coffee and Tea). Asia-Pacific is projected to emerge as the fastest growing market for hot beverages over the analysis period. Segment-wise, Coffee dominates the global hot beverages market, while Tea represents the fastest growing product segment in terms of volume.
Major players profiled in the report include Kraft Foods, Inc., Nestle SA, Parry Agro Industries Ltd., Starbucks Coffee Co., Strauss Group Ltd., Tata Global Beverages Ltd., Tata Tetley Ltd., Maxingvest AG, Unilever, and Hindustan Unilever Limited, among others.
The research report titled Hot Beverages (Coffee and Tea): A Global Strategic Business Report announced by Global Industry Analysts, Inc., provides comprehensive market overview, trends & issues, recent industry activity and profiles of market players worldwide. Analysis and overview is provided for the years 2009 through 2017, for major geographic markets including the US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Product segments analyzed include Coffee and Tea. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.
For more details about this comprehensive market research report, please visit
http://www.strategyr.com/Hot_Beverages_Coffee_and_Tea_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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