Consumer and Innovation Trends in Hot Drinks

  • August 2012
  • -
  • Datamonitor
  • -
  • 100 pages

As consumer trends drive innovation and purchase behavior it is increasingly vital to understand how to shape products to best meet them. This brief outlines the most important consumer and product trends impacting the hot drink category globally, using Datamonitor's TrendSights mega-trend framework as a basis to organize the key themes covered.Each section contains a concise SWOT analysis that outlines how each TrendSights mega-trend can be applied to the hot drinks category.Consumer insight analysis covering 20 countries globally highlights the key attitudes and behaviors driving consumers' purchase of hot drinks.Case studies and numerous product examples throughout the brief showcase best-in-class innovations in hot drinks from across the globe.Key considerations and potential opportunities have been identified based on consumer preferences and recent product innovations in this category.Product innovation is being shaped by growing consumer expectations as a result of Starbucks culture, where hot drinks can be customized in hundreds of ways. As consumers are experimenting more out-of-home, manufacturers have had to become more innovative in the retail space.Consumers are seeking products that are time-saving and convenient, but do not compromise on taste. While foodservice offers the ultimate convenience out-of-home, consumers are seeking good quality time-saving hot drink products to have in the home, such as premium instant coffee.How do Datamonitor's mega-trends apply specifically to hot drinks? How is this likely to evolve over the next few years?Where is innovation occurring in hot drinks and what does it look like?Going forward, what are some of the potential opportunities and key considerations for hot drink manufacturers?How are industry players using the online space to more effectively engage with consumers?

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