Hot Drinks - ASEAN

The Hot Drinks market in ASEAN has been experiencing significant growth in recent years. Customer preferences for hot beverages, such as coffee and tea, have been driving this trend. Additionally, local special circumstances and underlying macroeconomic factors have also contributed to the development of the market. Customer preferences in ASEAN countries have been shifting towards hot drinks, particularly coffee and tea. These beverages have become increasingly popular among consumers due to their taste, aroma, and perceived health benefits. Coffee, in particular, has seen a surge in demand, with consumers embracing different varieties and flavors. This shift in preferences can be attributed to the growing influence of Western culture and the increasing availability of international coffee chains in the region. Similarly, tea remains a popular choice among consumers, with many opting for traditional and herbal varieties. Trends in the hot drinks market in ASEAN countries vary across the region. In countries like Indonesia and Malaysia, there has been a rise in the number of specialty coffee shops, catering to the growing demand for high-quality coffee. These specialty coffee shops often focus on offering unique flavors and brewing methods, appealing to coffee enthusiasts. On the other hand, countries like Thailand and Vietnam have a strong tea-drinking culture, with a wide range of tea blends and preparations available. These countries have also witnessed an increase in the consumption of traditional herbal teas, which are believed to have various health benefits. Local special circumstances also play a role in the development of the hot drinks market in ASEAN. For example, in countries like Indonesia and Vietnam, where coffee is produced locally, there is a strong emphasis on promoting and consuming domestic coffee. This has led to the growth of coffee tourism and the establishment of coffee plantations and cafes. Similarly, in countries like Thailand and Malaysia, where tea is produced locally, there is a focus on promoting local tea brands and traditional tea ceremonies. Underlying macroeconomic factors have also contributed to the growth of the hot drinks market in ASEAN. Economic growth and rising disposable incomes have allowed consumers to spend more on premium hot beverages. Additionally, urbanization and changing lifestyles have led to an increase in the number of cafes and coffee shops, providing consumers with convenient access to hot drinks. Furthermore, the growing tourism industry in ASEAN countries has also contributed to the demand for hot beverages, as tourists often seek out local coffee and tea experiences. In conclusion, the Hot Drinks market in ASEAN is developing due to customer preferences for hot beverages, local special circumstances, and underlying macroeconomic factors. The shift in consumer preferences towards coffee and tea, the rise of specialty coffee shops and tea houses, the promotion of domestic coffee and tea, and the growth of the tourism industry have all contributed to the growth of the market. As the region continues to experience economic growth and urbanization, it is expected that the hot drinks market in ASEAN will continue to expand in the coming years.

Data coverage:
The data encompasses B2C enterprises. Figures are based on private Household spendings on Hot Drinks. At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments.
In the out-of-home market, the price always refers to the price per kilogram of the beverage consumed, regardless of other components in the finished beverage.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as production data, region, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Hot Drinks market with a projected steady growth.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.