Millennials, often blamed for killing products, expected to boost key drink market: Study

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

The instant coffee market is projected to grow at a CAGR of 5.11% thanks to millennials and disposable income increases in Brazil, China & India, according to Research and Markets.

Maxwell House instant coffee sits on display in a supermarket in New York, U.S., on Monday, Aug. 3, 2009

The study cites rising Internet usage and an increase in popularity among millennials as main reasons for the projected growth. Increase in disposable incomes in China, India, and Brazil was also cited as beneficial to the market. However, the study lists fluctuations in raw material pricing and the threat of substitutes as challenges to the market.PUMPKIN IS BACK: DUNKIN' ANNOUNCES ITS NEW FALL MENU

"The coffee industry faces competition from various substitutes, including tea, which poses a significant threat," the study reasoned. "Tea is preferred over coffee in many regions worldwide." "Additionally, other beverages like soft drinks, energy drinks, green tea, and iced tea are gaining popularity, challenging the global instant coffee market," the research firm added.The key companies that were studied included Starbucks Corporation, Unilever Plc, and Nestle S.A.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines