Published Date : Jan 15, 2016
Hot drinks such as tea and coffee have a huge cultural significance. For many, tea and coffee are morning drinks to jumpstart the day, but for a huge number of people it is a beverage that holds ceremonial importance. The global hot drinks market primarily comprises of tea, coffee, and other hot drinks such as a concoction of chocolate and milk. This market is being driven by aging population that depends on hot drinks as a matter of habit and also because of those who are realizing the health benefits of tea. Furthermore, the changing lifestyle of global consumers, the coffee-shop culture, hectic pace of life, and rising disposable income is propelling the growth of the global hot drinks market.
The positive trend in the global hot drinks market is also due to recovering economies, improving employment rates, wide range of brews, different types of teas, and changing dietary preferences. The rising per capita income amongst the middle class is also driving the growth of global hot drinks market. A host of premium brands offering good quality of coffee mixes and tea mixtures are also encouraging consumers to try different and exotic flavors. This has opened up a new avenue for the market to grow into.
In the recent years, the green tea market has completely changed the face of the hot drinks market by luring in non-coffee or tea drinkers, who were avoiding caffeine for so long. This has also brought in new competition in the market, forcing brands to compete on quality and price. The growing awareness about the health benefits of green tea is the prime market driver for this segment. Some of the important players in the global hot drinks market are Green Mountain Coffee Roasters, Green tea Thai, McLeod Russel, Tata Global Beverages, Valcorp Fine Foods Microsoft Corp, Nestle SA, Betty's and Taylors of Harrogate, and Eight O'ClockCoffee.