12th December, 2018- Coffee Market is anticipated to witness an exponential growth in the forecast period. Coffee is an organic and natural caffeine beverage, prepared by adding coffee beans (soluble or roast & ground and green beans) with either hot or cold water in a coffee maker. The factors that propel the growth of the market include increasing demand, rapid urbanization & industrialization and technological innovations. The other driving factors include improving standard of living, longer shelf life of coffee, easy availability, ease of preparation, and rise in the number of working population.
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The market is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Key trends of coffee market include rising preference of gourmet coffee in the Americas, increasing penetration of premium coffee shops, and rising demand of green coffee in developing countries.
The market may be explored by product type, application, source type, flavors, processing type and geography. Market may be explored by product type as soluble coffee, roasted coffee and coffee pods. Based on application, the market may be classified as coffee shops, household, and others. The “coffee shops” segment led the coffee market in 2017 and will continue to lead in the forecast period. The key factor that may attributed to the growth of market includes growing restaurant business.
Based on source type, the market may be classified as Robusta arabica, and liberica. The “arabica” segment led the coffee market in 2017 and will continue to lead in the forecast period. The key factor that may attributed to the growth of market includes high demand. The market may be explored by flavors into vanilla, caramel, Irish cream, hazelnut and others. Market may be explored by processing type as caffeinated and decaffeinated.
Some of the key players that fuel the growth of the coffee market comprise Starbucks, J.M. Smucker, Keurig Green Mountain, Kraft, Nestle, Massimo Zanetti, Dunkin, Caribou Coffee, Community Coffee, Peet’s Coffee & Tea and Reily Foods. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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