Hot Drinks Market in APAC 2015-2019
About Hot Drinks Market
Hot drinks, in this report, includes tea, coffee, and chocolate or malt-based drinks. APAC is the world's largest hot drinks market in terms of both production and consumption and it is expected to grow further in the forecast period. Even though the APAC tea market is witnessing a saturation, it continues to lead the market because of the introduction of various health-related product innovations and many category extensions in terms of flavors. The APAC coffee market is expected to have a galloping growth due to a shift toward the “coffee culture” in many traditional tea preferring countries such as China, Japan, and India. Finally, the chocolate and malt-based market is likely to witness a continuous but moderate growth as health drinks are consumed by a descent number of people all over APAC.
Technavio’s analysts forecast the hot drinks market in APAC to grow at a CAGR of 5.66% and 4.52% in terms of revenue and volume, respectively, over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the hot drinks market in APAC for the period 2015-2019. The report further provides data on the following segments of the market:
Technavio Announces the Publication of its Research Report – Hot Drinks Market in APAC 2015-2019
Technavio recognizes the following companies as the key players in the Hot Drinks Market in APAC: Ajinomoto, GlaxoSmithKline, Nestle, Tata Global Beverages and Unilever
Other Prominent Vendors in the market are: Apeejay Tea, Cantarella Bros, Chengdu Tea, Dhunseri Tea & Industries (DTIL), Dilmah, Greentea Thai, Gujarat Tea Processors & Packers, Highlands Coffee, Ito En, Kerikeri Teas, Lupicia, Manly Tea, McLeod Russel, Mondelēz International, Strauss Group, Tenfu Group, Trung Nguyên, Valcorp Fine Foods, Vicony Tea (Huangshan, Mainland China) and Zealong
Commenting on the report, an analyst from Technavio’s team said: “A major trend in terms of a shift in the evolution of the coffee drinking culture has been observed in APAC. Even though tea still remains the market leader, the coffee culture and market are witnessing galloping growth in these traditional tea drinking states. A glaring example of this statement would be the coffee giant Starbucks. Starbucks received about a 30% year-on-year rise in its revenues from APAC. In many APAC countries, this particular culture is considered to be associated with a western lifestyle. For instance in China, the coffee drinking culture has been inculcated because of the pluralistic and diversified influence of the states of Beijing, Shanghai, and Guangzhou. The concept of a coffee culture is prevalent among the urban population. The urban population is often exposed to and is familiar with the idea of westernization. As a result of which, they adhere to western habits and lifestyles without much difficulty.”
According to the report, the continuous and progressive economic growth of many countries in APAC has influenced consumers to switch their preference from unpackaged or unbranded products to branded ones. The major reason for this shift is increased urbanization and a busier schedule. Because of longer and more competitive working hours, an individual finds it easier to consume convenience products such as instant coffee or tea. Also, unlike the old times, today's customer is well-informed about the various brands of tea, coffee, and other hot beverages because of the constant exposure to their brand appeal through various communication channels and national and international campaigns.
Further, the report states that the market not only faces substitution threats from its competitors but also from the various product innovations from their unrelated competition such as the cold beverage companies.
Ajinomoto, GlaxoSmithKline, Nestle, Tata Global Beverages, UnileverApeejay Tea, Cantarella Bros, Chengdu Tea, Dhunseri Tea & Industries (DTIL), Dilmah, Greentea Thai, Gujarat Tea Processors & Packers, Highlands Coffee, Ito En, Kerikeri Teas, Lupicia, Manly Tea, McLeod Russel, Mondelēz International, Strauss Group, Tenfu Group, Trung Nguyên, Valcorp Fine Foods, Vicony Tea (Huangshan, Mainland China), Zealong
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