Hot drinks saw strong growth in Sri Lanka in 2024 backed by an improving economy and a large influx of tourists. The search for convenience boosted sales of tea bags and instant coffee, while an increasing number of consumers looked for healthier hot drinks such as products with functional claims.
Hot drinks in 2024: The big picture
In 2024, the growth and development of hot drinks in Sri Lanka was informed by a variety of factors, including changing consumer preferences, rising costs, and prevailing economic uncertainty. Although inflation stabilised in 2024 prices of hot drinks still continued to rise, which pushed many consumers to favour cheaper options like instant coffee and tea sachets.
Country background
Sri Lanka faced economic challenges during the review period, including high inflation rates, which have affected consumer purchasing behaviour. This has created a noticeable shift in the market towards more affordable and easily accessible hot drinks options, with instant coffee and tea sachets becoming increasingly popular.
Socioeconomic trends
The growing cost of living and depreciating value of the Sri Lankan rupee had a major effect on sales of hot drinks during the review period. Consumer price sensitivity led to a change in preference towards cheaper options, which benefited sales of instant coffee and tea sachets which are not only more affordable but also more convenient.
Logistics/infrastructure
Sri Lanka is not a particularly large country and all of the main population centres are well connected by road and rail. Thus, there are no significant factors placing limits on logistics or the distribution of hot drinks.
What next for hot drinks?
Inflation stabilised to more normalised levels in 2024, supported by the financial aid package received from the IMF and other factors such as the uptick in inbound tourism. This in turn should help to boost consumer confidence and encourage spending on a wider range of hot drinks, included healthier options such as fruit/herbal tea and specialty coffee products, among others.
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Overview:
Understand the latest market trends and future growth opportunities for the Hot Drinks industry in Sri Lanka with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Coffee
- Tea
- Other Hot Drinks
If you're in the Hot Drinks industry in Sri Lanka, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Hot Drinks in Sri Lanka report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Hot Drinks in Sri Lanka?
- To what extent are health considerations impacting consumption of Hot Drinks in Sri Lanka?
- What are the traditional preferences in Hot Drinks in Sri Lanka? To what extent are these tastes changing amidst increasing international influence and the growth of chained cafés?
- How are changing demographics (for example, an ageing or predominantly young population) determining consumption of Hot Drinks in Sri Lanka?
- Which are the leading brands in Hot Drinks in Sri Lanka?
- How are products distributed in Hot Drinks in Sri Lanka?
- How is the rise of e-commerce changing the retail and competitive landscape?
- Have home seclusion and social distancing measures following COVID-19 benefited sales of Hot Drinks?
- Where is future growth expected to be most dynamic?
Hot Drinks in Sri Lanka
Hot drinks in 2024: The big picture
Country background
Socioeconomic trends
Logistics/infrastructure
What next for hot drinks?
DISCLAIMER
2024 Developments
Prospects and Opportunities
Category Data
2024 Developments
Prospects and Opportunities
Category Data
2024 Developments
Prospects and Opportunities
Category Data
The following categories and subcategories are included:
Hot Drinks
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- Fresh Coffee Beans
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- Fresh Ground Coffee Pods
- Standard Fresh Ground Coffee
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- Instant Standard Coffee
- Instant Coffee Mixes
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- Loose Black Tea
- Tea Bags Black
- Fruit/Herbal Tea
- Green Tea
- Instant Tea
- Other Tea
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- Chocolate-based Flavoured Powder Drinks
- Malt-based Hot Drinks
- Non-Chocolate-based Flavoured Powder Drinks
- Other Plant-based Hot Drinks
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This report originates from Passport, our Hot Drinks research and analysis database.
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