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Hot Beverages Market Assessment 2007
Key Note Publications Ltd, May 2007, Pages: 142
The hot beverages market (encompassing instant and ground coffees, black and green leaf teas, fruit and herb teas, and chocolate and malted drinks) grew by just 0.2% in value terms between 2005 and 2006. The market is dominated by instant coffee and black leaf tea in bags, yet it is the more niche and 'sophisticated' premium segments within coffee and tea that have shown growth and have managed to prevent the total hot beverages market from undergoing greater decline.
In general, the mainstream instant coffee and bagged leaf tea sectors continue to fall in value, but some subsectors have undergone growth, particularly in Fairtrade and speciality instant coffees, in ground coffees (particularly Fairtrade) and in Fairtrade and green teas. The speciality instant coffee market has grown from the 'coffee experience' of coffee bars, while the Fairtrade element has received substantial publicity. There also continues to be significant growth in the fruit and herb teas market.
The chocolate and malted drinks sector remained static in 2006. Growth in the hot chocolate drinks segment was more than offset by declines in malted and chocolate malted drinks.
The issue of attracting new consumers is being addressed by hot beverages producers through the development and promotion of products that are perceived to be 'healthier', such as decaffeinated coffees and teas, green teas, speciality teas, fruit and herb teas, and low-calorie chocolate and malted drinks. Increasing sales of premium-priced 'indulgence' products — such as the café-style espresso instant coffees — are also boosting the market in value terms, and there has been some claimed initial success in sales of home coffee-making machines and the accompanying coffee pods. In addition, consumer research indicates that those who claim to have drunk more of many hot beverages over the past 12 months are consumers in the 16 to 24 age group.
Various conflicting factors will continue to affect future growth in the hot beverages market. The ageing population profile in the UK is likely to assist hot beverages growth, owing to greater consumption as age increases, although new product development (NPD) is essential to attract new consumers. However, greater awareness and promotion of healthy eating and drinking is likely to continue to move some consumers towards fruit juices and mineral waters.
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