Global Coffee Market Expected to Grow With a CAGR Of 5.1% | Growth Market Reports
PUNE, India, Sept. 3, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports titled, "Global Coffee Market by Product Types (Whole-bean, Ground Coffee, Instant Coffee, and Coffee Pods and Capsules), Distribution Channels (On-trade and Off-trade), and Regions: Size, Share, Trends and Opportunity Analysis, 2018-2028", the market size was USD 101 Billion in 2020 and is anticipated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing cafe culture as well as growing disposable income, urbanization, and food service outlets. Coffee is one of the most consumed brewed drink. It is usually made from roasted coffee beans. These beans are the seeds of berries that come from certain species of coffee. Coffee beans are first picked, processed, and then dried, when they change its color to bright red from green. Change in the color indicates ripeness of the berries. Coffee offers an effect of revitalization due to the presence of caffeine in the beverage.
Universal trade zone (UTZ) certification is the largest certification program in coffee and cocoa. Certified coffee is an assurance to the consumer about the reliability of the product. The objective of the certificate is to make sustainable farming norm, by encouraging farmers to implement eco-friendly agricultural practices Industry players follows certifications, such as Fair-Trade Certification, Rainforest Alliance Certification, and UTZ certification.
The survey conducted by the National Coffee Association suggests that in the US, more than 70% of the consumers prefer at-home coffee preparation. Another study suggests that consumers are looking for certified coffee products to ensure about the reliability of their coffee purchases.
Key Market Players Profiled in the Report
- The Kraft Heinz Company
- The Coca-Cola Company
- Nestle SA
- JM Smucker Company
- JAB Holding Company
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.
Highlights on the segments of the Coffee Market
Based on Product Types, the market is divided into whole-bean, ground coffee, instant coffee, and coffee pods and capsules. The coffee pods segment is expected to account for a key market share during the forecast period owing to their convenience and increasing preference among the consumers to prepare sound coffee in the comfort of home.
In terms of Distribution Channels, the market is bifurcated into on-trade and off-trade. The off-trade segment is expected to expand at a robust pace in the coming years due to rising consumption of coffee amongst individuals and increasing retail sales due to the rising e-commerce activity. Moreover, growing urban population is spurring the off-trade segment.
On the basis of Regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is anticipated to dominate the market during the forecast period. According to survey conducted by the Institute for Scientific Information on Coffee (ISIC), 67% of the respondents stated that they often consumed coffee while working. This is leading to a huge demand for coffee in Europe-based countries such as Germany, Italy, Spain, and the UK.
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Market Trends, Drivers, Restraints, and Opportunities:
- The availability of wide-range of coffee types, and flavors & brewing styles are driving the global coffee market growth during the forecast period.
- Coffee certification organizations are engaged in keeping a check upon the production procedures and supply chain of coffee, which is positively influencing the market growth.
- Shifting work culture specifically in the corporate industry along with improving living standards is further expected to boost the market growth.
- Social distancing and lockdown imposition due to the COVID-19 outbreak had a huge impact on cafés, micro-roasters, restaurants, and other out-of-home outlets, hampering the market growth.
- The price fluctuation of coffee beans and climate change, leading to supply shortage can restrict the market growth during the forecast period.
- Increasing R&D investments and ongoing technological advancements in order to utilize the key strengths, distribution network, enhance portfolio, and capture the untapped markets are expected to create significant opportunities for the market players in the projected timeline.
Read 164 Pages Research Report with Detailed ToC on "Coffee Market by Product Types (Whole-bean, Ground Coffee, Instant Coffee, and Coffee Pods and Capsules), Distribution Channels (On-trade and Off-trade), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028"
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Segments Covered in the Report
Product Types
- Whole-bean
- Ground Coffee
- Instant Coffee
- Coffee Pods & Capsules
Distribution Channels
- On-trade
- Off-trade
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
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