The new report by Expert Market Research titled, ‘Global Coffee Market Price, Trends, Size, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global coffee market, assessing the market based on its segments like product type, distribution channel and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 126.38 billion
- Forecast CAGR (2023-2028): 4.82%
Caffeine, the main component in coffee raises blood levels of epinephrine (adrenaline) which is the fight-or-flight hormone, that prepares the body for strenuous physical activity. This property makes a lot of students and working professionals use coffee to keep them energised. This is one of the main causes of for its huge demand.
In a survey done by Institute for Scientific Information on Coffee (ISIC) during the historical period, about 68% of the 8000 respondents revealed that they often drink coffee during working hours. The coffee chains promoting café cultures has also increased the demand for coffee.
In the United States, there are about 41 Starbucks per 1,000,000 inhabitants apart from other coffee chains, coffee shops and restaurants offering coffee. It is closely followed by Canada with a Starbucks density of 38.8. Finland is the world’s top coffee consuming nation per capita with about 6% of Finnish women and 14% of Finnish men drinking more than ten cups of coffee per day, making it a lucrative market.
Coffee Industry Definition and Major Segments
Coffee is a beverage that is made from roasted ground or crushed seeds, called coffee beans. These are obtained from of the two-seeded fruit (coffee berry) of certain coffee plants. It is dark in colour, bitter, and a slightly acidic beverage. It is one of the most common beverages globally and can be prepared in a variety of ways.
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On the basis of product type, the market is segmented into:
- Ground Coffee
- Instant Coffee
- Coffee Pods and Capsules
The market is divided into the following, basis the distribution channel:
- Off Trade
- Hypermarkets and Supermarkets
- Convenience Stores
- Specialist Retailers
The major regional markets include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Coffee Market Trends
The increasing number of coffee shops and coffee vendors have improved the accessibility to coffee. The chains like Starbucks, have also added to the coffee culture, globally, that is propelled with the growing social media trends. Coffee has wide variety of preparation techniques with different flavors. White collar demography, urbanisation, and food service outlets are key factors contributing to the global coffee market growth. Hectic lifestyle and stress work culture, as well as rising living standards, are predicted to enhance demand in the global market.
Coffee is also being included as a skin care and cosmetic ingredient. It helps in cellulite reduction, has anti-aging properties and even helps prevents cancer. Its use in confectionary and bakery products owing to its taste and flavor enhancing properties, which also pushes its demand further.
Different types of coffee desired by people, for instance, roasted coffee, medium or dark coffee, decaf coffee, among others also improves the demand statistics. Increased demand for organic coffee due to greater awareness of the health advantages connected with its use is likely to boost demand in the near future.
Key Market Players
The major players in the market are Nestlé S.A., The Coca-Cola Company, The Kraft Heinz Company, The J. M. Smucker Company, JAB Holding Company, among others.
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