Espresso Coffee Market to grow by USD 4.55 billion between 2022 to 2027; Europe will contribute 41% to the growth of the global market - Technavio

NEW YORK, Sept. 11, 2023 /PRNewswire/ -- The espresso coffee market size is expected to grow by USD 4.55 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 5.84% during the forecast period. New product launches are notably driving the espresso coffee market. However, factors such as Fluctuating raw material prices may impede market growth. The market is segmented by End-user (Home and offices, Coffee shops, and others), Type (Latte, Mocha, Double espresso, Pure espresso, and Others), and Geography (Europe, North America, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format 

Key Segment Analysis
The home and offices segment will be significant during the forecast period. The rising adoption of work-from-home culture increases the consumption of espresso coffee among residential consumers. Also, the growing working population has increased the demand for espresso machines in office spaces. Furthermore, various company offices have coffee vending machines in their pantries where employees can brew the coffee of their choice. For instance, 79% of consumers owned espresso machines at home in 2021, and vendors are offering a variety of machines to cater to the demand. Nestle SA Nespresso, for example, provides Inissia and U coffee machines and new espresso capsules that allow consumers to enjoy their favorite coffee at home. These factors are driving the growth of the segment. To know additional highlights and key points on various market segments and their impact in coming years, View a PDF Sample Report.

Geographical Market Analysis 

Europe will contribute 41% to the growth of the global market during the forecast period. The increasing disposable income of consumers in developing economies of Eastern Europe, especially in Eastern Europe, the rising number of organized retailing, and the growing café culture are contributing to the growth of the espresso coffee market in Europe. The UK, Russia, Germany, the Netherlands, and France are the major markets that provide good prospects for espresso coffee vendors in Europe. For instance, Nestle SA, Unilever PLC, and Starbucks Corp are some of the major vendors operating in the espresso coffee market in Europe in 2022.

Company Insights 
The espresso coffee market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:
Ahold Delhaize Coffee Co., Black Rifle Coffee Co. LLC, Cabrales SA, Coffee Day Enterprises Ltd., F. Gavina and Sons Inc., Inspire Brands Inc., JAB Holding Co. Sarl, Kitu Life Inc., Luckin Coffee Inc., Luigi Lavazza SpA, Market Lane Coffee Pty Ltd., Massimo Zanetti Beverage Group Spa, McDonald Corp., Nestle SA, Peets Coffee Inc., Procaffe SpA, Starbucks Corp., The Coca Cola Co., Tobys Estate Coffee Pty Ltd.

• View a PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The coffee machine market size is estimated to grow at a CAGR of 7.5% between 2022 and 2027. The market size is forecast to increase by USD 8,728.19 million. This coffee machine market report extensively covers market segmentation by end-user (commercial and non-commercial), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and Middle East and Africa). Increasing inorganic strategic initiatives by players offering coffee machines is the key factor driving the growth of the market. 

The office and commercial coffee equipment and supplies market is estimated to grow at a CAGR of 3.8% between 2022 and 2027. The size of the market is forecast to increase by USD 5,857.73 million. This report extensively covers market segmentation by end-user (offices, food service restaurants and convenience stores, healthcare and hospitality, education, and others), distribution channel (offline and online), and geography (Europe, APAC, North America, Middle East and Africa, and South America). The growing number of office spaces and commercial establishments are notably driving the market growth.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio