Hot Drinks: Segment is driven by convenience & quality

Hot Drinks: Segment is driven by convenience & quality

Published: February 2019
Publisher: MarketLine
Product ref: 306133
Pages: 15
Format: PDF
Delivery: By product vendor

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- Similar to other retail trends, altering conditions in the labor market are driving the push towards convenience. A combination of technological advances and labor market conditions has made convenience a priority for consumers. People are working longer hours and don’t always have the time for preparation, meaning the potential for ready-made drinks is growing. A combination of long hours in employment and increased labor force participation has meant people are generally busier.
- Long working hours and busy lifestyles result in increasing demand for convenience, thereby entailing the need for portable and ready-to-drink coffee and tea. The desire for convenience has prompted the introduction of functional packaging formats such as single-serve coffee pods, soluble coffee tablets, and coffee to-go cups, allowing consumers to enjoy a perfect ‘cup’ every time. Time scarcity is a prevalent factor in many countries, with the US and Japan notable examples. However, it is also occurring in the UK, where RTD coffee recorded a CAGR of 25.8% during 2011-2016, given their convenience and portability.
- One fast growing market is coffee pods used in conjunction with machines. These machines are becoming more affordable in price, and will constitute a growth opportunity in the future. The pod machine is also beginning to impact more commercial applications. GlobalData consumer estimates that the global coffee pod market will grow with a compound annual growth rate (CAGR) of 7.9% between 2016 and 2021, one of the fastest growing segments in the industry. Demand is driven by North America and Western Europe, which accounted for 89% of market value in the most recent figures. A survey conducted in 2016 by Harris Interactive on behalf of The Grocer found that 30% of respondents in the UK owned a coffee pod machine, up from 22% the previous year.

Scope

- Examine the major trends in the drinks and beverage industry and what companies are doing to exploit them
- See why the latest sugar coverage is having such a big effect on the industry
- Explore the reasons behind the rise of bottled water and the new opportunities in that segment
- Examine the problems the industry faces with packaging

Reasons to buy

- What are the key changes happening in the non alcoholic drinks industry?
- What players are making significant new moves in the industry?
- Are there any opportunities arising out of major industry trends?
- What new products are starting to gain traction with consumers?

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Related research categories

By sector: Hot drinks, General drinks


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