The main objective of this report is to define, describe, and forecast the global “Coffee Bean” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to report the global coffee bean market is projected to grow at a CAGR of 5.7% over the forecast period of 2018-2024.
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Italian coffee company Illy entered in a licensing agreement with JAB
October 2018, Italian family-owned coffee company Illy entered in a licensing agreement with conglomerate JAB to produce and distribute Illy-branded coffee capsules. The agreement is about, producing and distributing Illy brand capsule through retail channels internationally. Illy would remain in charge of its distribution in Italy and in other sales channels.
Growing Millennial Population Fuelling the Growth of Coffee Market
About half of the total demand of coffee globally comes from the millennial. Coffee demand is robust and growing at good CAGR annually. Further, the growth of coffee culture in developing economies is helping to grow this market globally. Café culture in developing countries like China and India is becoming a fashion symbol and is driving the coffee consumption globally. Further, other factors such as the availability of wide-range of coffee type, flavors and brewing styles, rising urbanization & disposable incomes and increasing number of food outlets, retail stores, and cafes are driving the growth of this market. However, the price fluctuation of coffee beans and climate change, leading to a supply shortage, are restraining in the market.
Availability of other beverage product at a cheap rate is hampering the growth of this market
Coffee is a beverage product, and maximum consumer use it as a substitute for other beverage as tea and several local beverages. However, price fluctuation of the coffee been in the commodity market, motivate the consumers to switch to other beverage products. Hence, the availability of other cheaper products is restraining the growth of this market.
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Growing awareness about the benefits and increasing application of coffee in the beauty products and medicine would boost the growth of this market
Growing awareness about the health benefits related to the coffee and its growing application in the pharmaceutical sector and beauty cream products are helping to grow this market. In recent year there is an increasingly growing application of coffee in beauty cream such as anti-oxidants, sunscreen lotion, hydration cream are helping to grow this market.
North America to influence the Global Coffee Bean market through 2018-2024
The demand for coffee in North America is expected to remain high in the coming years due to a growing consumption coffee. The increasing demand for coffee amongst the working population and ubiquitous installment of coffee vending machines at offices, airports, railway stations, and other places are expected to make a generous contribution to the rising revenue of the North America coffee beans market. Additionally, the growing presence of coffee shop around the retail stores, eateries and other common snacks points are helping to boost the growth of the coffee market. The Asia Pacific region is also expected to be a strong contender in the global coffee beans market. Emerging economies such as India and China are expected to be instrumental to the rise of the Asia Pacific coffee bean market.