With temperatures hitting all-time highs, consumers are turning to ice cream and chilled drinks to beat the heat — and analysts say some sectors could benefit.
Several Southeast Asian cities hit record high temperatures in May as global climate change exacerbates heat waves and air pollution in the region.
A street vendor selling bottles of chilled water amid high temperatures in Dhaka, Bangladesh, on Tuesday, June 6, 2023.
"Use of air-conditioning will skyrocket, benefiting the HVAC industry but leading to extremely high levels of energy usage," said Allison Malmsten, public research director at Daxue Consulting.
Cattle feeding at a cattle farm on December 13, 2020 in Pingliang, Gansu Province of China.
Persons:
Bain, Zara Lightowler, Kuo, David Kuo, Allison Malmsten, Daxue, Rice
Organizations:
Getty, Company's, Vitasoy, Cola, PepsiCo, Bloomberg, Unilever, Smart Investor ., Daxue Consulting, Visual China, Co's, Sustainability
Locations:
Srinagar, Indian, Kashmir, Asia, El, Southeast Asia, Dhaka, Bangladesh, Pingliang, Gansu Province, China, Laos, Malaysia