DUBLIN–(BUSINESS WIRE)–The “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, and Others), By Region, Competition Forecast & Opportunities, 2026” report has been added to ResearchAndMarkets.com’s offering.
The United States Hot Drinks Market was valued at approximately USD30 billion in 2020, and is projected to grow at CAGR of over 6% in the forecast years to reach around USD44 billion by the end of 2026.
The United States Hot Drinks Market is witnessing consistent growth, owing to the constant change in consumer tastes and preferences and hectic lifestyle of consumers.
Additionally, some of the other major factors contributing to the growth of this market include increased innovation in existing services, attractive packaging of the products offered, and availability of different flavors. All of these factors are expected to drive the growth of the United States Hot Drinks Market through 2026.
The hot drinks sector is currently focused on the study and production of drinks such as coffee, tea, and so on. These drinks provide certain health benefits such as reduced risk of heart diseases, weight management and energy boosting. Consumers nowadays are becoming more conscious towards their health and hygiene. Therefore, to meet consumer demand, companies are coming up with innovative products with health benefits.
Moreover, due to the continuously changing nature, taste, and preferences of consumers, the launch of a new product has become the most crucial strategy above all others. For instance, in 2021, Nestle introduced new Starbucks spring coffees in the United States. Starbucks Honey & Madagascar Vanilla Flavored Coffee and Starbucks Spring Day Combination, a blend of black coffee from Africa and Latin America with overtones of chocolate and dried fruits, are among the products in this category.
In addition, firms have embraced development through transnational mergers and acquisitions, which have been effective in strengthening their footprint. For instance, in 2020, Keurig Dr Pepper acquired the manufacturing, sales and distribution rights of The Red River Beverage Group and The Made-Rite Co.
The United States Hot Drinks Market is segmented into product type, distribution channel, region, and company. In terms of distribution channel, the United States Hot Drinks Market is segmented into supermarkets/hypermarkets, coffee shops, departmental stores, online and others. Among these, the supermarket/hypermarket channel dominated the United States Hot Drinks Market with a market share of around 30% in the year 2020.
In terms of region, the United States Hot Drinks Market is categorized into South, West, North-East, and Mid-West. Within the United States, the South region captures the largest market share due to increased population and large number of coffee shops and cafes found in this region. Also, the South region has captured almost 35% of the total market share in the United States Hot Drinks Market and is expected to continue its dominance in the forecast years.
The market for hot drinks has evolved into a lucrative economic opportunity. As a result, a number of major international corporations are entering this sector. Some of the major companies are Nestle 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.
The United States Hot Drinks Market is highly fragmented due to the presence of many local and international players.
Objective of the Study:
• To analyze the historical growth in the market size of the United States Hot Drinks Market from 2016 to 2020.
• To estimate and forecast the market size of the United States Hot Drinks Market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast the United States Hot Drinks Market based on type, distribution channel, region, and company.
• To identify dominant region or segment in the United States Hot Drinks Market.
• To identify drivers and challenges for the United States Hot Drinks Market.
• To examine competitive developments such as expansions, new services launch, mergers & acquisitions, etc., in the United States Hot Drinks Market.
• To identify and analyze the profile of leading players operating in the United States Hot Drinks Market.
• To identify key sustainable strategies adopted by market players in the United States Hot Drinks Market.
Report Scope:
Years considered for this report:
• Historical Years: 2016-2019
• Base Year: 2020
• Estimated Year: 2021
• Forecast Period: 2022-2026
United States Hot Drinks Market, By Product Type:
• Coffee
• Tea
• Others
United States Hot Drinks Market, By Distribution Channel:
• Supermarkets/Hypermarkets
• Coffee Shops
• Departmental Stores
• Online
• Others
United States Hot Drinks Market, By Region:
• South
• Mid-West
• West
• North-East
Competitive Landscape:
Company Profiles: Detailed analysis of the major companies present in the United States Hot Drinks Market.
• Nestle USA
• Starbucks Corporation
• Keurig Dr Pepper Inc.
• The J. M. Smucker Company
• Peet’s Coffee & Tea, LLC
• The Kraft Heinz Company
• Unilever United States, Inc.
• Tata Consumer Products US Holdings Inc.
• The Hain Celestial Group, Inc.
• Lavazza Premium Coffees Corp.
• La Colombe Coffee Roasters
• The Bigelow Tea Company
• Reily Foods Company
• The Republic of Tea
• Tea Forte Inc
Source: Business Wire