Market Research Future Insights:
The main drivers of market 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 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.
Coffee Market Size is anticipated to reach USD 1,43,828.7 million by 2028, registering a CAGR of 5.12% during 2021-2028.
Regional Analysis:
The coffee market has been divided into four regions based on geography: North America, Europe, Asia-Pacific, and the Rest of the World. The coffee market is dominated by Europe, according to MRFR analysis, with a coffee market share of 36.08% and a CAGR of 4.72% between 2021 and 2028. 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 several 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.
Market Segmentation:
The market for coffee 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 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 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 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.
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).
Recent developments
To promote fairness and distinction, FNC released a range of coffees manufactured by women in December 2021.
J.M. Smucker Co. and JDE Peet established a strategic agreement in March 2021, allowing JDE Peet to support the Smucker Away from Home liquid coffee business with product research, production, and foodservice equipment innovation.
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