The Global Beverage Brawl
Coffee or tea? The answer as to which is better may just depend on where you live, and if you also keep one eye on profits while you’re downing your preferred cuppa.
In Europe, coffee is the clear winner, valued at US$ 128 billion in 2022 (and US$ 460 billion globally). Statistics show that the global coffee market is set to grow at an annual rate of 7.64% between this year and 2025. This is driven by innovations such as the introduction of novelty coffees and other tweaks by top players.
Tea’s advantage lies in Asia. The global tea market is valued at US$ 230 billion in 2022 and is projected to grow 5.17% per year between 2022 and 2025.
Although coffee is the largest segment of the hot-drink market in Europe, countries like the UK, Belgium, Denmark, and France see high consumption of tea, with a projected annual growth of 3.1% between 2022 and 2027. The key growth drivers for the European tea market have been the popularity of herbal, green, and black teas and their associated health benefits.
How else can tea producers win over the European markets?
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