United States Hot Drinks Market to Grow at a CAGR of Over 6% in the Forecast Period
Changing tastes
and preferences of consumers and increasing purchasing power to drive the United
States hot drinks market during the forecast period.
According to TechSci Research report, “United
States Hot Drinks Market By Product Type (Coffee, Tea,
and Others (Malt-Based Drinks, Hot Chocolate, and Apple Cider)), By Distribution
Channel (Supermarkets/Hypermarkets, Coffee Shops, Departmental Stores, Online,
and Others), By Region, Competition, Forecast &
Opportunities, 2026”,
the United States hot drinks market accounted for approximately USD30 billion
in the year 2020 and it is further anticipated to grow with the CAGR of over 6%
by 2026. United States hot drinks industry is said to be the largest hot drinks
industry at the global level owing to the high disposable income and changing
tastes and preferences of consumers. Moreover, the increasing coffee shop
culture and consumption of ground coffee pods are projected to boost the hot
drinks market’s growth rate in the United States. Furthermore, consumers are
inclining more towards hot drinks such as tea, coffee, etc. from carbonated
drinks such as soft drinks, sparkling water, etc. due to the negative impact of
carbonated drinks on health and hygiene such as obesity, type 2 diabetes, and
so on. Another factor driving the demand of this market is the rising
consumption of green, and black teas, as well as coffee, which can all help to
boost the immune system. These hot drinks also help in elevating the mood of the
consumers and boosting their energy levels. These benefits provided by the hot
drinks are contributing immensely to the growth of this market.
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TOC on "United States Hot Drinks Market"
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The United States hot drinks market consists of the following segments,
product type, distribution channel, region, and company. In terms of product
type, the United States hot drinks market is segmented into coffee, tea, and
others (malt-based drinks, hot chocolate, and apple cider). Among these, it is
the coffee segment that holds the prominent share of around 60% in the United
States hot drinks market. Coffee is followed by tea and other drinks which
include malt-based drinks, hot chocolate, and apple cider. Green tea holds the
second largest place in the tea category, owing to its increasing appeal among
young people. The popularity of green tea is due to the various benefits that
it offers such as it helps in improving brain functions, preventing type 2
diabetes, cardiovascular diseases, increasing fat burning, and reducing bad
breath, etc. These factors are driving the growth of green tea in the United
States, which is further expected to fuel the growth of this market.
Furthermore, another key segment under coffee, i.e., instant coffee is
gaining popularity among consumers due to its ease of preparation. The rising
developments in the instant coffee category are also expected to boost the
demand for hot drinks in the forecast period. Companies are improving the
quality of hot drinks and launching products with extra flavors and nutrients
as the demand grows. For instance, in 2021, Dunkin’ launched expresso-style
extra dark roast coffee, which is made from Arabic coffee beans.
In terms of region, the United States hot drinks market is segmented
into south, west, mid-west, and north-east. Among these, the mid-west region of
the United States is the fastest growing within the United States hot drinks
market, with a CAGR of around 5.5%, and is
expected to maintain its dominance throughout the forecast period.
Some of the major companies operating in the United States hot drinks
market are Nestlé USA, Starbucks Corporation, Keurig Dr Pepper Inc., The J.M.
Smucker Company, The Kraft Heinz Company, Unilever United States, Inc., The
Hain Celestial Group, Inc., and Lavazza Premium Coffees Corp. In order to
remain competitive in the United States hot drinks market, companies are
continuously launching new services and changing marketing strategies to
capture the majority of the consumer base across the country. In 2021, the J.M.
Smucker and JDE Peet’s formed a partnership over coffee. As a part of the
agreement, JDE Peet’s will provide production, development, and foodservice
equipment innovation to Smucker’s away from home liquid coffee business.
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“The rising demand for coffee pods and tea pods is a major factor
contributing to the growth of United States hot drinks market. Moreover,
companies are continuously launching new hot drink variants in order to meet
the demands of the changing consumer preferences, which is further fueling the
growth of the hot drinks market in the United States.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“United States Hot Drinks Market By Product Type (Coffee, Tea, and Others (Malt-Based Drinks, Hot
Chocolate, and Apple Cider)), By Distribution Channel (Supermarkets/Hypermarkets,
Coffee Shops, Departmental Stores, Online, and Others), By
Region, Competition, Forecast & Opportunities, 2026” has evaluated
the future growth potential of hot drinks market in the United States and
provides statistics and information on market structure, size, share and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the United States hot drinks market.
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