Global Specialty Coffee Market Size to Reach USD 71.21 Billion by 2028, Says Brandessence Market Research

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Brandessence Market Research and Consulting Private Limited

Oct 17, 2022, 10:10 ET

LONDON, Oct. 17, 2022 /PRNewswire/ -- The Specialty Coffee Market Share was valued at USD 28.44 Billion in 2021 and is projected to reach USD 71.21 Billion by 2028. It is expected to grow at a CAGR of 14.01% from 2021 to 2028.

Specialty coffee refers to the highest quality coffee available, usually involving the entire supply chain and using single origin or single estate coffee. On the 100-point Coffee Review scale, specialty coffee is described as coffee that receives 80 or more points. Coffee of outstanding quality both farmed and brewed to a substantially higher level than the norm is specialty coffee. Erna Knutsen coined the term in an issue of Tea & Coffee Trade Journal in 1974.

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Specialty Coffee Market: Scope

There is a growth which is going to happen in the global specialty coffee market which is going to happen due to the increase in the urban population all over the world and the demand for the price, appropriate brewing needs and suitability along with the increase in the purchase-ability in many different developing countries in the market.

Specialty Coffee Market: Competitive Analysis

Some major key players for global specialty coffee market report cover prominent players like -

Starbucks
Dunkin' Brands Group
Whitbread
McDonald's
Coffee Beane Peet's Coffee
Barista
Restaurant Brands International
Coffee Day Enterprises
Caribou Coffee
Tea and Global Baristas US
Don Fransisco's Coffee
Keurig Green Mountain
Eight O'Clock Coffee
Caffe Nero
Blue Bottle
The Coffee Bean and Tea Leaf. Lavazza
M. Smucker
Costa
Jammin Java Group
Bulletproof
Gevelia
Strauss
Stumptown
Others

Specialty Coffee Market: Segmentation Analysis

In terms of segmentation, it has been reported that the 85-89.99 grade segment has dominated this market with there being a large market share in the world. This is a coffee which is called the Robusta and has grown quite a lot in the last few years. This is a Brazilian term which is used to describe the way the coffee is made. This is a coffee which can be developed in a more chocolate, vanilla, citrus and nutty flavor and be typically smooth and sweet.

It has also been said that the commercial segment has been dominating this market with there being a huge market share and a market revenue too. The segment is going to be developing with the higher innovations and the accelerated improvements in technology which are the major factors that are driving the market in the commercial application segment. Moreover, the substantial growth of this market has been on account of the machine enterprises particularly when it comes to the developing countries.

By Grades:

80-84.99
85-89.99
90-100

By Applications:

Home
Commercial

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Specialty Coffee Market: Regional Analysis

Another factor is the emergence of the foodservice enterprise as a major end user and a surge in the number of the offices among the kitchenettes which is going to propel the sale in the coming years. In terms of region, it is going to grow most in Europe and North America due to the higher disposable incomes in these countries.

Specialty Coffee Market: Key Drivers

It is estimated that there is a rise in the specialty coffee among many different customers all over the world and that is going to expand the demand for the market in the years to come. Further, there is a rapid level of urbanization and disposable income increase happening worldwide which is going to further propel the growth of the market in the coming years.

There are some restraints however going on in the market. Such restraints include the fluctuation of the price of coffee beans and there being a lack of supply of this in the unfavorable weather conditions. Furthermore, there is an expansion in the ability of the consumers with the increase in popularity of coffee subscription as a major opportunity for the growth of this market.

Specialty Coffee Market: Key Trends

For the enhancement of their market position all over the world, this is market which is now focusing on the adoption of strategies like the innovation of products, joint ventures, partnerships etc. There is a growth in the market which is driven by the rise in the potential of the agriculture tourism and the coffee which is ready-to-drink as well as specialty coffees which is extremely special. There are reports to the effect that many customers are now moving from the traditional coffee blends to the ones which are now coming into the market.

On Special Requirement Specialty Coffee Market Report is also available for below region:

North America

U.S, Canada

Europe

Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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SOURCE Brandessence Market Research and Consulting Private Limited