Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Hot Drinks Market Size is Estimated to Grow from USD 360.13 Billion in 2023 to USD 745.83 Billion by 2033, Growing at a CAGR of 7.55%during the forecast period 2023-2033.
Browse key industry insights spread across 215 pages with 110 Market data tables and figures & charts from the report on the Global Hot Drinks Market Size, Share, and COVID-19 Impact Analysis, By Product (Tea, Coffee, and Others), By Distribution Channel (Supermarkets & Hypermarkets, Coffee Shops, Online Stores, Departmental Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The market for tea, coffee, and hot chocolate is known as the worldwide hot drinks market. It involves selling both ready-to-drink items and dry components like beans, leaves, and powders. The expansion of the worldwide hot drinks market is primarily being driven by growing awareness of the health advantages of drinking hot beverages including green tea, lemon tea, and detox coffee and tea. Customers' tastes are changing from fizzy drinks to hot drinks that are freshly made or brewed. In addition, consumers' consumption of hot beverages has increased due in large part to the spread of coffee and instant tea vending machines, as well as the presence of coffee shops and kiosks in public areas and corporate offices. Consumers are closely examining the ingredients in their hot beverages in addition to their regular usage. However, the market for hot drinks faces competition from the convenience and diversity of cold beverages, which satisfy consumers' shifting tastes for chilled and portable drinks.
The tea segment held the largest share of 37.42% in 2023 and is estimated to grow at a CAGR of 6.78% throughout the projection period.
Based on the product, the global hot drinks market is categorized into tea, coffee, and others. Among these, the tea segment held the largest share of 37.42% in 2023 and is estimated to grow at a CAGR of 6.78% throughout the projection period. Tea is the most popular hot drink in the world and the second most popular beverage overall, only outstripped by water. Antioxidants, which are abundant in tea, increase immunity, lower inflammation, and prevent cancer. Tea has gained popularity among consumers as a result of these noteworthy health advantages.
The online stores segment dominated the global hot drinks market share in 2023 and is estimated to grow at a significant CAGR throughout the projection period.
Based on the distribution channel, the global hot drinks market is classified into supermarkets & hypermarkets, coffee shops, online stores, departmental stores, and others. Among these, the online stores segment dominated the global hot drinks market share in 2023 and is estimated to grow at a significant CAGR throughout the projection period. As digitization and e-commerce grow in popularity, customers are using online channels to satisfy their cravings for hot beverages. This increase in demand is partly due to the convenience provided by Internet channels, which let customers peruse and buy a wide variety of hot beverages from the comfort of their homes.
North America is expected to hold the largest share of the global hot drinks market through the forecast period.
North America is expected to hold the largest share of the global hot drinks market through the forecast period. Coffee and tea are among the hot drinks that are becoming more and more popular due to a cultural shift towards a more sophisticated and varied palate. There is a growing demand for specialty and artisanal coffee variations as North Americans embrace coffee culture more and more. The popularity of coffee shops and cafes, which provide distinctive mixes and brewing techniques, has increased demand for excellent, tasty hot beverages.
Asia Pacific is predicted to grow at the fastest CAGR of the global hot drinks market over the forecast period. There are a lot of customers in the area who relish hot tea or coffee. These drinks are a staple of the local culture and are frequently provided during meetings, ceremonies, and social events. Customers are looking at specialty hot drinks more and more in addition to the more conventional selections. Urbanization and growing disposable incomes are two factors that are contributing to the region's hot drink market's expansion.
Company Profiling
Major key players in the global hot drinks market include Tazo Tea Company, Celestial Seasoning, Inc., Tata Global Beverages, Costa Coffee, Starbucks, Caffe Nero, Ajinomoto General Foods, Inc., Associated British Foods (ABF), Tim Hortons, Keurig Green Mountain (KGM), and others.
Recent Developments
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global hot drinks market based on the below-mentioned segments:
Global Hot Drinks Market, By Product
Global Hot Drinks Market, By Distribution Channel
Global Hot Drinks Market, By Regional Analysis
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