PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1334579
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1334579
Global Coffee Market is valued approximately USD 120.5 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.72% over the forecast period 2023-2030. Coffee is a globally cherished elixir, crafted from the meticulously harvested and roasted seeds of the Coffea plant, encapsulating a symphony of distinct flavors, captivating aromas, and invigorating properties. Its robust character stimulates the senses, awakening the mind and energizing the body, while fostering moments of contemplation, camaraderie, and creativity. With each sip, coffee transcends mere beverage status, evoking an enchanting journey through its intricate profiles, ranging from velvety and caramel-like to zesty and spiced, leaving a lasting impression that lingers on the palate and in the memories of those who partake in its captivating allure. The driving factors boosting the market growth are increasing consumer demand and expansion of coffee culture.
According to the International Coffee Organization (ICO), the global coffee consumption reached 167.4 million in the coffee year 2020/2021, representing a 1.3% increase compared to the previous year. Another factors is growing coffee culture. According to Statista, in the United States, there were approximately 37,274 coffee shops in 2021. This growth reflects the increasing demand for coffee as a social experience and a part of consumers' daily routines. Moreover, growing market for Ready-to-Drink (RTD) coffee and rising demand for specialty and premium coffees is expected to create lucrative opportunities in the market. However, the high price volatility and intense competition from other beverages (like tea, soft drinks, energy drinks) stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Coffee Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022 owing to the dominance of coffee culture, characterized by high consumption rates and a thriving cafe scene, fuels the demand for coffee. Technological advancements in bean-to-cup solutions and the growing interest in coffee connoisseurship among younger generations have enhanced the coffee experience and contributed to the market's growth. However, South America is expected to become the fastest growing during the forecast period, owing to factors such as strong production facility (Brazil leading as the world's largest coffee producer), favorable climatic conditions, and advanced agricultural practices.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable