Hot Beverages (Coffee and Tea) Market was valued at USD 100 Billion in 2022 and is projected to reach USD 150 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The Hot Beverages (Coffee and Tea) Market has experienced notable growth from 2018 to 2022, driven by evolving consumer preferences, increasing health consciousness, and innovations in product offerings. The surge in demand for premium coffee, tea blends, and organic options has reshaped the landscape, positioning these beverages as an integral part of everyday life for millions worldwide. The period saw the expansion of coffee chains, an uptick in specialty drinks, and the growing preference for convenience-oriented products like ready-to-drink (RTD) beverages. During these years, coffee emerged as the dominant player, particularly in regions like North America and Europe, while tea made substantial inroads into the health-conscious market, especially in the form of herbal teas and functional beverages.
However, as we look ahead from 2023 to 2033, there are significant shifts expected in demand. The post-pandemic world, coupled with increased environmental awareness, is pushing consumers toward more sustainable and eco-friendly options, driving brands to introduce biodegradable packaging, compostable pods, and ethically sourced beans and leaves. Coffee remains the leader, but with a rising interest in tea consumption, particularly in emerging markets like Asia Pacific, Latin America, and Africa. Tea is forecasted to show stronger growth due to the increasing demand for green tea and functional teas, attributed to their purported health benefits.
As for market predictions, industry reports suggest a compound annual growth rate (CAGR) of around 5.5% for the global coffee and tea market from 2023 to 2033. The demand for coffee is expected to see a slight dip in developed markets, whereas in emerging regions, demand is expected to rise significantly due to urbanization and changing lifestyles. Tea, particularly health-driven varieties such as matcha and detox teas, is expected to experience exponential growth, particularly among younger generations. The rise of the ‘wellness’ trend plays a significant role in the growing popularity of tea, with functional beverages like kombucha, which blends tea and probiotics, contributing to this trend.
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Celestial Seasonings Inc
Dilmah
Harney & Sons
JDB Beverages Ltd.
Jacobs Douwe Egberts
J.M. Smucker Company
Keurig Green Mountain
Inc
Starbucks
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Hot Beverages (Coffee and Tea) Market
Coffee Shops
Drinks Stores
Food Service
Others
Based on Types the Market is categorized into Below types that held the largest Hot Beverages (Coffee and Tea) market share In 2023.
Tea
Coffee
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Hot Beverages (Coffee and Tea) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Hot Beverages (Coffee and Tea) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Hot Beverages (Coffee and Tea) Market, By Type
6. Global Hot Beverages (Coffee and Tea) Market, By Application
7. Global Hot Beverages (Coffee and Tea) Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Hot Beverages (Coffee and Tea) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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