Coffee Market Overview: Application, Top Companies, and Forecast 2030
Coffee Market Research Future Insights:
The size of the coffee market was estimated at USD 79.5
billion in 2022. During the forecast period (2023 - 2030), the coffee market
industry is expected to increase from USD 83.6 billion in 2023 to USD 112.8
billion, demonstrating a compound yearly growth rate (CAGR) of 5.12%
The main drivers of coffee market
overview growth are the rising advancements in fresh coffee kinds,
capsules, and pods as well as the rising consumption of coffee worldwide. It is
anticipated that the increased consumer preference for organic coffee would
open up new business potential for functional coffee. However, the market's
expansion throughout the review period is being constrained by the variability
in coffee bean prices. The main issue for market participants is the low level
of consumer awareness in emerging countries.
Key Players:
The key players in the global coffee market: Nestle SA
(Switzerland), Tata Global Beverages Limited (India), Illycaffè S.p.A. (Italy),
Keurig Dr. Pepper, Inc. (US), Starbucks Corporation (US), The Coca Cola Company
(US), Jacobs Douwe Egberts (Netherlands), Strauss Group Ltd (Israel), The Kraft
Heinz Company (US) and The J.M. Smucker Company (US).
Market Segmentation:
The coffee market overview has been divided into segments
based on product type, category, distribution method, and geographic location.
The fresh coffee, coffee pods, and coffee capsule segments
make up the worldwide coffee market. In 2019, the fresh coffee market trends
category held an 84.99% market share. The raw form of fresh coffee is available
in whole beans or ground form. There are three parts to it: roasting, grinding,
and green beans. Compared to coffee pods and capsules, freshly ground coffee
has a deeper flavour, aroma, and taste.
Beans and grinds are separated from it at this point. The
coffee plant's seed is known as the coffee bean. Before brewing, whole coffee
beans need to be ground. Their longer shelf life makes them appealing in both
developed and emerging nations. Many final consumers all over the world favour
using raw coffee beans to make the ideal cup of java. Additionally, one of the
key causes of the rising sales of whole coffee beans is the expanding use of
coffee beans in the foodservice sector. On the other hand, entire coffee beans
are processed to create ground coffee.
The worldwide coffee market share has been divided into
conventional and organic products based on category. In 2019, the conventional
sector held a bigger market share (85.35%). Contrarily, conventional coffee is
severely chemically treated with pesticides, herbicides, fungicides,
insecticides, and synthetic fertilisers. Chemically treated fertilisers and
insecticides promote faster coffee growth and increase coffee bean production
per plant.
The global market has been divided into store-based and
non-store-based segments based on distribution channel. In 2019, the
store-based category held a bigger market share (72.51%). Supermarkets and
hypermarkets, convenience stores, and other stores make up the store-based
section. The sub-segment for supermarkets and hypermarkets is anticipated to be
the largest, as these distribution channels account for the majority of coffee
product sales worldwide. The distribution of coffee is significantly influenced
by convenience stores. According to projections, the fastest-growing
sub-segment during the review period will be convenience stores.
Regional Analysis:
The coffee market research report has been divided into four
regions based on geography: North America, Europe, Asia-Pacific, and the Rest
of the World. The coffee
market size is dominated by Europe, according to MRFR analysis, with a
market share of 36.08% and a CAGR of 4.72% between 2020 and 2026. The
development of new products with technological advancements, the rising demand
for convenient coffee capsules and pods, as well as the adoption of automatic
bean-to-cup machines, are just a few of the factors that can be attributed to
the dominance of the regional market.
It is projected that a number of factors, including
widespread urbanisation and the expanding middle-income population group, will
fuel market expansion in the area. During the projected period, these factors
are also anticipated to boost the demand for coffee. Additionally, higher
consumer disposable incomes per capita have contributed to an increase in
coffee sales.
It is anticipated that during the study period, the US,
Canada, and Mexico will account for a sizeable portion of the global coffee
market's revenue. The main factors driving the rise of coffee consumption in
the regional market include rising coffee consumption, growing manufacturer
product portfolios, and the presence of a sizable consumer base. E-Imports
reports that there is a steady rise in coffee consumption in the US, with over
150 million people, or more than 50% of the population, regularly consuming
coffee-related beverages. With a 13.07% market share of the global market in
2019, the rest of the world is expected to grow at a CAGR of 5.34%. South
America is predicted to have significant growth throughout the course of the
prediction.
NOTE: Our Team of Researchers are Studying Covid19 and
its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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