According to the “Global Hot Drink Market 2017-2021” report, the world market for hot drinks will grow at a CAGR of 5.49% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global hot drink market for 2017-2021.
The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Growing influence of online retailing. With the increase in e-commerce businesses worldwide, the vendors have immense potential to enhance their profitability.
E-commerce trading accounts nearly 12% of the global retail trade. Most of these e-commerce channels support business-to-business (B2B) and business-to-consumer (B2C) operations.
According to the report, one of the major drivers for this market is increasing popularity of coffee pods and tea pods. Since the last decade, the demands for the convenience food products has been on the rise.
Many nations around the globe are experiencing significant infrastructural developments and rapid rates of urbanization. These trends have brought about new innovative habits and preferences among tea and coffee seekers.
Further, the report states that one of the major factors hindering the growth of this market is Adverse environmental conditions.
Coffee and tea crops are vulnerable to natural disasters and unpredictable weather conditions such as drought, earthquakes, flood, frost, and others.