Dublin, May 17, 2024 (GLOBE NEWSWIRE) -- The "Hot Beverages (Coffee and Tea) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Hot Beverages (Coffee and Tea) Market to Reach $1.2 Trillion by 2030
The global market for Hot Beverages (Coffee and Tea) estimated at US$787.8 Billion in the year 2023, is projected to reach a revised size of US$1.2 Trillion by 2030, growing at a CAGR of 5.8% over the analysis period 2023-2030.
The hot beverages market, encompassing a variety of formats, flavors, colors, and aromas, is experiencing dynamic growth and diversification. Recent market activities highlight major trends in both developed and emerging markets. In developed regions, premium positioning and the rise of naturally caffeinated, perishable superfoods are notable, while emerging markets see significant growth in tea and coffee consumption. Tea and coffee formulations are becoming increasingly sophisticated, featuring ready-to-drink options, premium specialty drinks, and fermented coffee.
Coffee, one of the segments analyzed in the report, is expected to record a 5.7% CAGR and reach US$742.1 Billion by the end of the analysis period. Growth in the Tea segment is estimated at 6.2% CAGR for the next 7-year period.
Differentiation factors include taste, convenience, price, and ingredients, driving coffee's popularity. Coffee's fast facts emphasize its trendy appeal and health benefits, while tea's multiple health benefits—such as cardiovascular health, support to the cell cycle, diabetes and weight management, bone health, and neurological disease prevention—boost its demand amid rising health consciousness.
Key drivers of global hot beverage consumption include a focus on health and well-being, convenience, a wide range of options, and customization to local tastes. Spiraling consumption of hot beverages, healthy beverages, and water underscores their fundamental growth drivers. Major industry trends influencing hot beverages' prospects include increasing global beverage consumption and a robust global market outlook.
The U.S. Market is Estimated at $206.2 Billion, While China is Forecast to Grow at 8.9% CAGR
The Hot Beverages (Coffee and Tea) market in the U.S. is estimated at US$206.2 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$270.5 Billion by the year 2030 trailing a CAGR of 8.9% over the analysis period 2023 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 4.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$167.4 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 354 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $787.8 Billion |
| Forecasted Market Value (USD) by 2030 | $1200 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Hot Beverages: Versatile Drinks in Interesting Formats, Flavors, Colors, and Aromas
- Recent Market Activity
- Major Trends in Developed and Emerging Markets Summarized
- Developed Markets
- Emerging Markets
- Tea and Coffee Reach New Heights in Beverage Formulation
- Factors of Differentiation
- Premium Positioning
- Naturally Caffeinated, Perishable Super Foods
- Tea and Coffee: Beyond the Realm of Ordinary Beverages
- Ready-to-drink Beverages
- Premium Specialty Drinks
- Fermented Coffee
- Healthy Beverages
- Coffee: Trendy and Growing Beverage Highly Influenced by Taste, Convenience, Price, and Ingredients
- Coffee: Fast Facts
- Multiple Health Benefits of Tea amidst Rising Health Consciousness Drive Widespread Demand
- Tea & Cardiovascular Health
- Support to Cell Cycle
- Diabetes Management
- Weight Management
- Bone Health
- Neurological Diseases
- Specific Forms of Cancers
- Major Factors Driving Global Consumption of Hot Beverages (Coffee and Tea)
- Focus on Health and Well-being
- Convenience
- Wide Range of Options
- Customization to Local Tastes
- Increasing Consumption of Various Beverages Worldwide: The Fundamental Growth Driver
- Hot Beverages, Healthy Beverages, and Water Witness Spiraling Consumption
- Major Beverage Industry Trends that are Influencing Prospects for Hot Beverage
- Global Market Outlook
- Coffee Dominates Consumption, While Tea Spearheads Market Growth
- Hot Beverages (Coffee and Tea) - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Growing Demand for Protein-Fortified, Organic, and Functional Beverages Drive Healthy Market Growth
- Functional Teas Set to Become Everyone's Cup of Tea
- Increasing Demand for Ethically-Produced, Sustainable and Certified Coffee Sustains Market Growth for the Segment
- Consumers Demand Sustainable Products
- Stakeholders' Collaboration: Need of the Hour
- Key Considerations to Achieve Sustainable Growth
- Major Trends in Global Coffee Market
- Despite Growing Preference for RTD Tea, Hot Tea Continues to Reign Supreme in the Global Tea Market
- Tea Consumption across the Globe Registers Steady Growth
- Major Tea Tastes and Trends
- Cost and Convenience Factors Drive Strong Global Demand for Instant Coffee
- Growing Interest in Naturally Healthy Products and Sustainable Sourcing to Boost Tea-Based Beverages Market
- Sustainable Sourcing
- Cross-Cultural Exchange of Healthy Ingredients
- Unabated Popularity of Green Tea Bodes Well for the Market
- The Indulgence Trend Drives Growing Preference for Specialty Coffee
- Growing Interest in Retail and Food Service Channels Benefit Market Demand
- Children and Youth Population: A Lucrative Demographic Segment & the New Advertising Target
- E-commerce: A Powerful Marketing Tool for Market Participants
- Developing Countries Continue to Drive Current and Future Market Growth
- India & China Offer Lucrative Market Growth Opportunities
- Favorable Demographic Trends Strengthen Market Prospects for Hot Beverages
- Rising Global Population
- Growing Middle Class Population
- Increasing Influence of Millennials
- Shrinking Family Size
- Rapid Urbanization
- COFFEE AND TEA INNOVATIONS
- Smart Mug to Keep Hot Beverages at Ideal Temperature
- Muggo: The Smart Travel Mug
- Recent Innovations in Coffee Lattes
- Need to Preserve and Protect Authenticity of Taste Drives Tea Packaging Innovations
- Tea of a Kind (TOAK): Novel Tea in "Eco 4-Pack" Format
- Flavor Extension Driving Growth within Traditional Premium Tea Market
- Innovations in Tea Blends
- Noteworthy Tea Innovations in Recent Times
- Other Noteworthy Innovations in the Coffee Market
- At-Home Coffee Receives a Makeover
- Technology to Improve Coffee Processing
- Coffee Subscription Services
- Sales of Single-Cup Coffee Soar; Spur Sustainable Cup innovation
FOCUS ON SELECT PLAYERS(Total 203 Featured)
- Celestial Seasonings, Inc. (USA)
- Costa Limited (UK)
- Dilmah (Ceylon Tea Services PLC.) (Sri Lanka)
- Harney & Sons (USA)
- JAB Holding Company S.ar.l. (Luxembourg)
- Keurig Dr Pepper Inc. (USA)
- Van Houtte, Inc. (Canada)
- JDB (China) Beverages Ltd. (China)
- Jacobs Douwe Egberts (The Netherlands)
- J.M. Smucker Company (USA)
- Dunkin' Donuts (USA)
- Kraft Heinz Company (USA)
- Luigi Lavazza S.p.A. (Italy)
- McCafe (Australia)
- Mcleod Russel (India)
- Nestle S.A. (Switzerland)
- O'Coffee (Brazil)
- Parry Agro Industries Limited (India)
- R. Twining and Company Limited (UK)
- R.C. Bigelow, Inc. (USA)
- Segafredo Zanetti SpA (Italy)
- Starbucks Corporation (USA)
- Strauss Group Ltd. (Israel)
- Tata Global Beverages (India)
- Tata Coffee (India)
- Tetley (UK)
- Tchibo GmbH (Germany)
- The Republic of Tea (USA)
- Tim Hortons Inc. (Canada)
- UCC UESHIMA COFFEE CO., LTD. (Japan)
- Unilever PLC (UK)
- Tazo Tea Company (USA)
- Hindustan Unilever Limited (India)
- Yorkshire Tea (UK)
For more information about this report visit https://www.researchandmarkets.com/r/i5zgct
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
