London, UK - The global hot beverages (coffee and tea) market is anticipated to achieve 11.25 million tons in volume terms by 2017, and by 2015 is set to record a market value of $69.77 billion.
Future growth in the hot beverages market is expected to bank on major trends presently emerging in the market including increased focus on health drinks throughout the world, increased popularity of ready-to-drink tea, and increasing efforts from tea and coffee manufacturers to boost sales of these beverages.
Coffee is regarded as the most familiar beverage globally with more than 400 billion cups of annual consumption. In terms of per capita consumption of coffee, European countries take the lead, with Finland recording the highest rate, followed by Norway, Ireland, Denmark, The Netherlands and Sweden among others.
Demand for tea is on the rise worldwide. China ranks first in the production of tea in the world. Together with India, China produces more than half of the world’s tea. The green tea segment has gained popularity with the introduction of different flavours such as green lemon, green decaf and pure green.
Europe represents the largest region within the hot beverages market on a global scale in terms of volume as well as value sales. Asia-Pacific is projected to emerge as the fastest growing market for hot beverages through to 2017, growing at a compound annual growth rate of 3.6% through to 2015. Segment-wise, coffee dominates the global hot beverages market, while tea represents the fastest growing product segment in terms of volume.
SOURCE: Vertical Edge Limited