The worldwide coffee market is expected to grow at a 4.6% CAGR over the following ten years, reaching a value of US$ 53.5 billion by the end of 2033. The market is currently valued at US$ 34.1 billion.
Due to the growing use of coffee in numerous business verticals and rising consumption in developing nations, coffee has long been a popular beverage around the world and is predicted to become even more so in the upcoming years. Future worldwide coffee consumption is anticipated to be boosted by cooperative government and nonprofit activities to support coffee farming.
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“Growing Demand for Ready-to-drink Beverages”
Coffee conventionally was consumed as a hot drink but there have been innovative advancements and now the beverage is consumed in many ways such as cold coffee, instant coffee, etc. The increasing popularity of ready-to-drink beverages across the world is also projected to augment the way coffee is consumed on a global scale, which is expected to open up new avenues of opportunity for upcoming as well as established coffee manufacturers.
- In April 2022, Lavazza, an Italian coffee manufacturer debuted its ready-to-drink coffee products in the U.S. marketplace. The products are made from U.S. Department of Agriculture-certified organic Arabica coffee and are available in four different styles.
- In November 2022, Starbucks, an American coffeehouse chain operating internationally announced the launch of its new ready-to-drink iced coffee beverages. The beverages are produced through a collaboration between Starbucks and Nestlé.
Leading coffee providers are focusing on launching new products that help them advance their business potential and boost revenue generation potential.
- In December 2022, Chamberlain Coffee, a renowned coffee lifestyle brand founded by Emma Chamberlain announced the launch of new Coffee Pods. The new pods have a casing that is commercially compostable and is made from Chamberlain Coffee’s Original Family Blend.
The expansion of several coffee chains across the world owing to the rising popularity of products such as iced lattes, cold coffee, French press coffee, etc. is also projected to create new developments in the global coffee marketplace.
- In December 2022, Luckin Coffee, a Chinese beverage chain announced the launch of its new round of partner recruitment to expand its network of franchised stores in China. The initiative covers 41 urban areas and 9 provinces that are mainly situated in third and fourth-tier cities.
- In December 2022, UK-based coffee chain, Costa Coffee announced that it would be opening its first store in Pakistan by partnering with its current franchisee Gerry’s Group. The store was planned to open in Lahore before the end of 2022 and another one is expected to be opened in Karachi in 2023.
Key Segments Covered in Coffee Industry Research:
· By Grade :
· By Application :
- Hot Drinks
- Ready-to-Drink Coffee
- Flavored Beverages
- Food & Beverage Flavors
- Other Applications
· By Sales Channel :
- Coffee Houses
- Traditional Grocery Stores
- Other Retail Formats
· By Region :
- North America
- Latin America
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How will be insights and market estimations provided in the Fact.MR report on the Demand Coffee make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
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