Research And Markets released its new World Market for Hot Drinks report from Euromonitor International for 2022.
According to the report, global business continue to face various risks, with a persisting COVID-19 pandemic, supply chain disruptions and inflation being top of mind for leaders.
The report provide insights on how these three challenges might evolve this year and beyond, and their possible impacts on production, growth and consumer behavior, helping companies and investors evaluate risks and move forward with a stronger strategic direction.
The global briefing also offers insight into to the size and shape of the hot drinks market and highlights buzz topics, emerging geographies, categories and trends, and pressing industry issues.
The analysis focuses on both retail and foodservice.
Per the research firm, the six key trends that are shaping global hot drinks right now – which the report explores – includes:
1. Occasion Shifting
The disruption caused by the COVID-19 pandemic has led to a long-term realignment of consumption occasions. The at-home segment will play a more important role going forward than before, necessitating an adjustment in strategy for some foodservice and beverage companies.
2. Supply Chain Struggles
Temporary COVID-19-induced disruptions have turned into long-term issues for the industry and related shortages, bottlenecks and cost pressures continue to cause problems. With few of the underlying issues resolved, supply chains will be a major issue for the foreseeable future.
3. Seeking Sustainability
The hot drinks industry faces significant challenges related to the changing global climate and sustainability, especially as a growing portion of the global consumer base is actively seeking out more sustainable products.
4. A Caffeine Paradox
Demand for caffeinated energy continues to grow, with tea and coffee providing the strong majority of global caffeination. At the same time, consumers are also focusing more on mindfulness and quality sleep, creating a complex situation with opportunity in both high- and low-caffeine products.
5. Digital Advances
Gains in online ordering and shopping are slowing down from their explosive pandemic growth rates, but digitalization remains important as more of the industry continues to shift online.
6. Into the Cold
New-style cold beverages – such as cold brew and nitro – have gained a major presence in North America and are increasingly appearing elsewhere around the world. This has made RTD coffee into a top performer in multiple regions and led to a series of category-blurring products such as hard coffee. Tea is seeing similar trends, especially with hard tea options.
Research And Markets is a leading source for international market research reports and market data. The firm focuses on data on international and regional markets, key industries, top companies, new products and the latest trends.
To learn more about Euromonitor International, visit Euromonitor.com. To learn more about Research And Markets, visit ResearchAndMarkets.com.
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