CHINA - Drinking tea has a long history in China and while the hot brew is still the most popular drink in the country, a new report from Canadean finds that coffee is expanding its market share rapidly.
In 2014, the Chinese consumed 1.28 billion kilograms of hot drinks, with hot tea accounting for 82% of the total volume. While hot coffee holds a comparatively small share of the Chinese hot drinks market (5.7%), it will register the highest growth in volume terms between 2014 and 2019 with a CAGR of 15.4%.
Hot tea, on the other hand, will only grow at a CAGR of 5.6% over the same period.
Overall, hot coffee is forecast to gain market share in China, from 5.7% in 2014 to 8.4% in 2019, while… For the full story, subscribe to Packaging Business Insight Asia here.