The coffee global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Coffee Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The coffee market size has grown strongly in recent years. It will grow from $64.99 billion in 2023 to $69.63 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to cultural and social importance, globalization and trade, café culture and specialty coffee, changing consumer preferences, economic conditions..
The coffee market size is expected to see strong growth in the next few years. It will grow to $89.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to health and wellness trends, sustainable and ethical sourcing, premiumization and specialty coffee, e-commerce and online retail, global market expansion.. Major trends in the forecast period include technology in coffee production, coffee in alternative formats, diversity in coffee origins, focus on packaging sustainability, cultural and experiential coffee consumption..
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Scope Of Coffee Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Coffee Market Overview
Market Drivers –
Increasing consumption of coffee is expected to propel the growth of the coffee market going forward. Coffee is a beverage made from dark brown powder obtained from crushed coffee beans. People are consuming coffee beverages highly due to its taste and nutritional benefits, such as high antioxidants and vitamins such as riboflavin, magnesium, and potassium. It is also found to reduce the onset of heart diseases, and this increased consumption has further boosted the sale and revenue of coffee. For instance, as per statistics published in March 2022, by the National Coffee Association, a US-based coffee industry trade association, Coffee is consumed by 66% of Americans every day, more than any other beverage, including tap water, and has grown by nearly 14% since January 2021. Therefore, the increasing consumption of coffee drives the coffee market.
Market Trends –
Product innovation is a key trend gaining popularity in the coffee market. Major companies in the coffee sector are focused on launching innovative products to improve customer experience and strengthen their market position. For instance, in October 2022, Blue Bottle, a Nestle-owned US-based cafe retailer and specialty coffee roaster, launched premium instant coffee, Craft Instant Espresso, produced using premium beans, a unique roasting method, and a slow freeze-drying procedure. Craft Instant Espresso was introduced to enable consumers to prepare premium drinks at home without expensive equipment or brewing knowledge.
The coffee market covered in this report is segmented –
1) By Product Type: Whole-Bean, Ground Coffee, Instant Coffee, Coffee Pods, Capsules
2) By Application: Hot Drinks, Ready-To-Drink Coffee, Flavored Beverages
3) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Speciality Stores, Online, Other Channels
4) By End Use: HoReCa (Hotels, Restaurants, Cafe And Caterers), Retail
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Regional Insights –
Europe was the largest region in the coffee market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the coffee market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the coffee market report are Grady’s Cold Brew LLC, PepsiCo Inc., Tata Coffee Limited, Kraft Foods Group Inc., Royal Cup Inc., Ueshima Coffee Co. Ltd., Red Thread Coffee Co., Christopher Bean Coffee, Nestle SA, Slingshot Coffee Co., Synergy Flavors Inc., Artemis Brew LTD., Monin Incorporated, S&D Coffee Inc., Aspen Beverage Group, The J.M. Smucker Company, Illycaffe SpA, The Coca-Cola Company, Tate & Lyle PLC, Jacobs Douwe Egberts BV, Folgers Coffee Company, Sensient Technologies Corporation, Cafe de Colombia, Keurig Dr Pepper Inc., Tchibo GmbH, Strauss Group Ltd., Massimo Zanetti Beverage Group S.p.A., The Kraft Heinz Company, Segafredo Zanetti S.p.A., UCC Holdings Co. Ltd. .
Table of Contents
1. Executive Summary
2. Coffee Market Report Structure
3. Coffee Market Trends And Strategies
4. Coffee Market – Macro Economic Scenario
5. Coffee Market Size And Growth
…..
27. Coffee Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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