Research and Markets has announced the addition of the "Global Hot Drinks Market 2014-2018" report to their offering.
The Global Hot Drinks market comprises coffee, tea, and other hot drinks. The demand for hot tea is highly driven by the aging population owing to its health benefits, whereas, coffee is popular as a social drink across the world. The launch of new flavors and innovative products, coupled with changing lifestyle in the developing nations, will drive the Global Hot Drinks market positively during the forecast period.
The analysts forecast the Global Hot Drinks market on the basis of revenue and volume will grow at a CAGR of 4.55 percent and 2.33 percent, respectively, over the period 2013-2018.
This report covers the present scenario and the growth prospects of the Global Hot Drinks market for the period 2014-2018. To calculate the market size, the report considers the total sales and consumption of hot drinks globally.
The report, the Global Hot Drinks Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the EMEA region, the Americas, and the APAC region; it also covers the Global Hot Drinks Market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
With steady economic recovery worldwide, and declining unemployment rates, the demand for different varieties of hot drink will grow over the forecast period. In addition, the average global per capita income of US$10,500 in 2013 has driven consolidation of an increasingly robust middle class.
The ability to pay has increased as markets have become more open than before and have introduced a number of premium brands to retail their products in many of the emerging economies. Today, there is a marked tendency to "premiumization" of these drinks including an improvement in quality during the production, importation, and preparation, and consequent increase in cost
According to the report, the growth in the Global Hot Drinks market is driven by the union of culture and tradition as consumption of hot drinks worldwide is often associated with these. In some Asian countries such as India, Japan, and China, tea is usually the first beverage served at the start of the day. Increased demand from working-class consumers for hot drinks is another key driver.
