Coffee Market
The global coffee market was valued US$ 104.7 Bn at the end of 2020 and expected to reach at a value of US$ 163.1 Bn by 2028 with a significant CAGR of 5.7%
Meridian Market Consultants (MMC) has published a new report titled, “Coffee Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Coffee Market, By Product Type (Arabica, Robusta, Liberica, and Excelsa), By Distribution (supermarkets and hypermarkets, specialist retailers, convenience stores, and independent retailers), By End-use (soluble, roasted, speciality, and ready-to-drink), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global coffee market was valued US$ 104.7 Bn at the end of 2020 and expected to reach at a value of US$ 163.1 Bn by 2028 with a significant CAGR of 5.7%.
The rapidly driven coffee culture in the present day and age is one of the primary factors that is boosting the growth of the global coffee market. Coffee is a naturally diverse product and their value is extracted from where they are grown, type, texture and size of the bean, and the way they are roasted and processed. Once pitched in the market, coffee beans can be blended with various coffees from several different places to create complex tastes and aromas that label every brand as unique and distinctive. Owing to which, coffee gains so much traction in the global markets, thereby the global coffee market is expected to grow substantially in the forthcoming years.
Coffee as a beverage has become a trend in the present times, especially in the young generation, which has stimulated the development of numerous coffee outlets, including CCDs, Starbucks and many others, ultimately making coffee one of the most consumed beverages of the world. Attributing to which, the coffee market is estimated to witness major breakthroughs in the years to come.
In addition to that, the escalating urbanization across the world along with increased standard of living of the population together with raised disposable income is anticipated to positively fuel the growth of the global coffee market over the forecast period.
Also, the leading players of the coffee market, globally, are constantly seeking to enrich the experience of their consumers by experimenting with different tastes and aromas which is also gaining population’s attention across the world. Owing to which, the global coffee market is projected to observe significant growth over the coming years.
Furthermore, the rising demand of organic kind of coffee owing to elevating awareness of the health benefits related with the use of coffee is further estimated to propel the coffee demand in the near future, thereby augmenting the growth of the global coffee market over the forecast period.
MMC Study identifies some of the key participating players in the coffee market globally are J.M. Smucker, Nestle, Eight O’ Clock, AMT, Dulce Cafe, Lavazza, and Keurig Green Mountain, Tchibo, Kraft Heinz, Trung Nguyen, and Starbucks,, among others.
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