Hot drinks market predicted to accelerate in next 5 years

By Laura Mullan
The UK beverage market has seen a gin boom, a Japanese whiskey boom - but what is the next beverage trends to look out for? The hot drinks market has g...

The UK beverage market has seen a gin boom, a Japanese whiskey boom - but what is the next beverage trends to look out for?

The hot drinks market has grown steadily between 2011 and 2016 with modest growth of 1.4%.

However, this market segment is predicted to accelerate in the next years to 2021, according to a recent study by ReportBuyer.

SEE ALSO:

The UK hot drinks market is forecast to see strong growth at a compound annual growth rate (CAGR) of 4.2% during 2016-2021.

Among the top ten hot drinks markets, the UK ranks sixth in terms of per capita expenditure, outperforming Poland, the US, Malaysia and China and this per capita expenditure is expected to grow by 3.5% CAGR during 2016-2021.

The growth of this up-and-coming market is primarily attributed to British consumer preference for hot drinks coupled with increasing disposable incomes which motivates them to seek premium products in the market.

As well as this, the majority of UK millennials and young people are willing to spend more on hot drink products that have novel tastes and flavours while the ageing population seeks products marketed with health and wellness benefits, according to the report.


 

Share
Share

Featured Articles

Careers Passport: flagship programme to help jobseekers

A fast-track job scheme designed to remove barriers to enter the food and drink industry has seen over 1,000 training opportunities created.

Coca-Cola, Diginex & Reckitt tech to support supply chains

Respect for human rights is critical to good business, says Coca-Cola’s Paul Lalli, as the company joins diginexLUMEN to catch supply chain forced labour

Luxury food manufacturer Venchi on sustainable packaging

Cècile Osti, of luxury chocolate manufacturer Venchi, on Easter 2022, Sorrento lemons, sustainable packaging, natural ingredients & the pleasure of food

How has the pandemic affected sales at General Mills?

Food

Morrisons partners with Nestle in sustainability scheme

Retail

PepsiCo Launches pep+ a Strategic End-to-End Transformation

Drink