The global coffee market is anticipated to reach US$134.25 billion in 2024, growing at a CAGR of 5.32% for the period spanning 2020-2024. Factors such as increasing out of home coffee consuming population, rapid urbanization, rising e-commerce retail sales, accelerating disposable income, increasing instant coffee preference, growing demand for specialty coffee and increasing green coffee consumption in emerging economies are expected to drive the market. However, growth of the industry would be challenged by weather uncertainties, retail consolidations and stringent regulations. A few notable trends include growing penetration of premium coffee shops, high demand for cold brew over iced coffee, inclining desire for functional coffee and increasing gourmet coffee sale in America.
There are two sources of coffee i.e. Arabica (oldest type of coffee, to be cultivated initially in Ethiopia (Africa) and Robusta (its initial roots in countries located in central & western sub-Saharan Africa). Arabica coffee is the first ever cultivated coffee species and hence it is dominant in the market over Robusta coffee.
In 2020, the outbreak of COVID-19 pandemic has created a unfavorable impact on the global market as the production, exports and imports of coffee & related products have decreased significantly.
The fastest growing regional market is Asia-Pacific due to rise in the demand for coffee by the working population, growing presence of a large number of coffee chains and increasing e-commerce retail sector. The U.S. represents one of the largest market and is already well-penetrated at developed market levels.
Scope of the report:
The report provides a comprehensive analysis of the global coffee market.
The major regional markets (Asia-Pacific North America, South America and Europe) have been analysed along with country coverage of US.
The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
The competitive landscape of the market, along with the company profiles of leading players i.e. Nestlé S.A., Starbucks Corporation, The Kraft Heinz Company, The J. M. Smucker Company, Keurig Dr Pepper Inc. and Dunkin' Brands Group Inc.
Key Target Audience:
Raw Material Suppliers
Government Bodies & Regulating Authorities