Sales of hot drinks declined in retail volume terms in 2023 against a backdrop of price increases and significant pressure on purchasing power. Tea, coffee and other hot drinks all experienced similar performances with retail volume sales falling while sales grew in current value terms due to the impact of soaring inflation and rising production costs.
In coffee, fresh coffee beans and fresh ground coffee pods continued to grow in retail volume terms in 2024. Fresh coffee beans benefited from a strong positioning with these products being perceived and marketed as natural and delivering a fresher taste.
The leading players in coffee held on to their positions in 2024 with there being little movement in the rankings. Manufacturers overall focused their innovation and new product development on fresh ground coffee pods and on ESE pods with these seen to be the most dynamic areas of the market, as well as offering the greatest growth potential.
In the context of high prices and pressure on purchasing power, many consumers looked for value for money and for promotions when choosing where to buy their hot drinks in 2024. This favoured supermarkets and hypermarkets over more expensive channels such as small local grocers and convenience stores.
While retail prices went up in 2022 and 2023, as well as in 2024 in coffee, foodservice price increases were even higher. As such, this put the brakes on the recovery of the foodservice channel with volume sales failing to see a full return to pre-pandemic levels in 2024.
As pressure on purchasing power is set to progressively ease as inflation stabilises, it is expected that sales of hot drinks will see a return to growth in retail volume terms by the end of the forecast period. This economic recovery alongside an expected uptick in tourism should also help to boost sales of hot drinks through the foodservice channel.
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Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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