A $193.4 Billion Global Opportunity for Coffee Shops by 2026 - New Research from StrategyR

SAN FRANCISCO, March 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Coffee Shops - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 6; Released: February 2022
Executive Pool: 9953
Companies: 269 - Players covered include Costa Coffee; Cafe Coffee Day; Caffe Nero; CaffeRitazza; Caribou Coffee Company; Coffee Beanery; Coffee Republic; Dutch Bros Coffee; Gloria Jean`s Coffees International Pty .Ltd.; McCafe; Peet`s Coffee; Second Cup Coffee Co.; Starbucks Corporation; Tim Hortons, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Product (Coffee, Other Products)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Coffee Shops Market to Reach $193.4 Billion by 2026
Coffee shops industry involves the participation of operators engaged in the sale of coffee-based beverages along with other foods and drinks for in-store consumption or for takeout. Over the years, these shops have gained popularity as locations for people to socialize while also learning about coffee. Over the long term, rapid pace of urbanization and growing number of white collar job holders contribute to the spurt in foodservice outlets, including coffee stores. While coffee shops have for long been associated with providing traditional coffee products, the changing consumer tastes and preferences are leading to high demand for premium coffee products, which has in turn fueled the emergence of specialty coffee shops. The success of specialty cafes, especially barista-style coffee, is making consumer preferences more sophisticated, driving the consumption of premium coffee. A large number of people in developed markets appreciate coffee as artisanal product and focus on sustainable sourcing and brewing techniques. In the recent years, the coffee culture has moved towards added value and sophistication. With increasing demand for coffee, the need for coffee shops is expected to rise in order to offer high-graded finished products. Driven by increasing disposable income and popularity of coffee among middle income groups, especially in developing nations demand for coffee, specialty coffee shops that focus mainly on barista and gourmet coffee are witnessing steady growth.

Amid the COVID-19 crisis, the global market for Coffee Shops estimated at US$165.7 Billion in the year 2022, is projected to reach a revised size of US$193.4 Billion by 2026, growing at a CAGR of 3.6% over the analysis period. Coffee, one of the segments analyzed in the report, is projected to record 4.1% CAGR and reach US$123 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Other Products segment is readjusted to a revised 2.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $37.1 Billion in 2022, While China is Forecast to Reach $11.2 Billion by 2026
The Coffee Shops market in the U.S. is estimated at US$37.1 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$11.2 Billion by the year 2026 trailing a CAGR of 6.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR. While Americas and Europe constitute the major markets for coffee shops, future growth is anticipated from high growth economies of Asia-Pacific and Middle East. The potential growth opportunities in emerging markets prove to be a lure for several leading coffee chains such as Starbucks, Dunkin Brands and Costa Coffee. The urbanization trend coupled with rising incomes of people and their desire for high quality products is leading to the increase in coffee shops in Asia-Pacific. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.