Worldwide Hot Beverages Sales to Top US$51.7 Billion by 2010, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB), March 5, 2008 -- Global hot beverages market (http://www.strategyr.com/Hot_Beverages_Coffee_and_Tea_Market_Report.asp) is expected to witness steady growth through the 2001-2010 period to reach 9.7 million tons in sales by 2010. Growth in the coffee and tea industries would be driven by rising awareness about health benefits of these products, and quality. While coffee continues to grow in popularity as a premium product, particularly among young adults in developed nations, tea is gaining ground due to its medical benefits in lowering the risk associated with stroke, coronary heart disease and some forms of cancer. The rising price of regular coffee is further contributing to the growing demand for specialty coffee products.
Coffee is more popular than tea in the United States. Americans consume relatively lesser tea volumes compared to their foreign counterparts. The tea market in the United States witnessed dramatic growth in recent years, owing to the perceived benefits of drinking tea and quest for innovative products. Tea market (http://www.strategyr.com/Hot_Beverages_Coffee_and_Tea_Market_Report.asp) is estimated to generate about US$1.1 billion in sales by 2010. Desire for better options in place of the basic black and bitter tasting beverage, resulted in tea being offered in green, red, white and a variety of herbal blends.
China and India are emerging as major tea and coffee producing and consuming markets in the world. Rising disposable income, improved lifestyle, urbanization, wider acceptance of western culture and lifting of retail restrictions are prime factors contributing to the increased consumption of coffee in China. The presence of a largely under-penetrated market is proving to be a major factor pushing international players in the coffee market to enter China. Coffee market (http://www.strategyr.com/Hot_Beverages_Coffee_and_Tea_Market_Report.asp) in China is forecast to exceed 100 thousand tons in sales by the year 2010. India, on the other hand, is the leading producer and consumer of tea in the world. Tea industry, governed by stringent regulations, is a significant contributor to the nation's economy.
Europe represents the leading hot beverages (coffee and tea) market for 2007, both in terms of value and volume sales, accounting for about 45% share of the dollar market for the year, as stated by Global Industry Analysts, Inc.
The report titled "Hot Beverages (Coffee and Tea): A Global Strategic Business Report" published by Global Industry Analysts, Inc., offers a comprehensive analysis of the industry structure, market drivers, issues, trends and competition. The study analyzes recent past, current and future market data and analytics over the period 2001-2010, historical data (1991-2000) and long term projections (2011-2015) for regions such as the United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World.
The report reviews major players in the global and regional markets including Kraft Foods, Inc., Nestle SA, Parry Agro Industries Ltd., Procter & Gamble Company, Sara Lee Foodservice, Starbucks Coffee Co., Tata Tetley Ltd, Strauss-Elite Ltd., Tata Tea Limited, Maxingvest AG, Unilever, and Van Houtte, Inc.
For more details about this research report, please visit http://www.strategyr.com/Hot_Beverages_Coffee_and_Tea_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (http://www.strategyr.com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site www.StrategyR.com
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This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.
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