Dublin, March 06, 2023 (GLOBE NEWSWIRE) -- The "Coffee and Tea Global Market Opportunities and Strategies to 2031" report has been added to ResearchAndMarkets.com's offering.
The coffee and tea market reached a value of nearly $101,365.8 million in 2021, having grown at a compound annual growth rate (CAGR) of 2.8% since 2016. The market is expected to grow from $101,365.8 million in 2021 to $136,282.2 million in 2026 at a rate of 6.1%. The market is then expected to grow at a CAGR of 4.7% from 2026 and reach $171,510.9 million in 2031.
Growth in the historic period resulted from increased coffee and tea consumption, increasing focus on ready-to-drink (RTD) beverages and government initiatives
Going forward, increasing investments, rising popularity of coffee among millennials and increasing number of coffee shops will drive the growth. Factors that could hinder the growth of the coffee and tea market in the future include the Russian-Ukrainian war.
The coffee and tea market is segmented by segmented by type into coffee and tea. The coffee market was the largest segment of the coffee and tea market segmented by type, accounting for 54.9% of the total in 2021. Going forward, the coffee market is expected to be the fastest growing segment in the coffee and tea market segmented by type, at a CAGR of 6.4% during 2021-2026.
The coffee market is further segmented by type of product into roasted coffee, coffee concentrates, essences and extracts and other coffee products. The roasted coffee market was the largest segment of the coffee market segmented by type, accounting for 57.2% of the total in 2021. Going forward, the roasted coffee market is expected to be the fastest growing segment in the coffee market segmented by type, at a CAGR of 6.7% during 2021-2026.
The tea market is further segmented by type of product into black tea, green tea, specialty tea and other tea. The black tea market was the largest segment of the tea market segmented by type, accounting for 41.2% of the total in 2021. Going forward, the black tea market is expected to be the fastest growing segment in the tea market segmented by type, at a CAGR of 6.3% during 2021-2026.
The coffee and tea market is segmented by form into liquid, powder, and capsules. The powder market was the largest segment of the coffee and tea market segmented by form accounting for 76.3% of the total in 2021. Going forward, the capsules market is expected to be the fastest growing segment in the coffee and tea market segmented by form, at a CAGR of 6.3% during 2021-2026.
The coffee and tea market is segmented by packaging into containers, bags, and packets or pouches. The containers market was the largest segment of the coffee and tea market segmented by packaging, accounting for 38.2% of the total in 2021. Going forward, the containers market is expected to be the fastest growing segment in the coffee and tea market segmented by packaging, at a CAGR of 6.2% during 2021-2026.
The coffee and tea market is segmented by distribution channel into supermarkets/hypermarkets, convenience stores, e-commerce and other channels. The convenience stores market was the largest segment of the coffee and tea market segmented by distribution channel, accounting for 49.0% of the total in 2021. Going forward, the e-commerce market is expected to be the fastest growing segment in the coffee and tea market segmented by distribution channel, at a CAGR of 9.2% during 2021-2026.
Asia Pacific was the largest region in the coffee and tea market, accounting for 43.3% of the total in 2021. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the coffee and tea market will be Middle East, and, South America where growth will be at CAGRs of 11.3% and 9.1% respectively. These will be followed by Western Europe, and, Eastern Europe where the markets are expected to grow at CAGRs of 6.1% and 5.5% respectively.
The global coffee and tea market is moderately fragmented with large number of players operating in the market. The top ten competitors in the market made up to 25.79% of the total market in 2021. Nestle S.A. was the largest competitor with 8.79% share of the market, followed by Louis Dreyfus Company B.V. with 3.33%, Unilever plc with 3.06%, J.M. Smucker Company with 2.77%, The Coca-Cola Company with 2.00%, Suntory Holdings Limited with 1.69%, Ito En, Ltd. with 1.63%, Uni-President Enterprises Corporation with 0.88%, The Kraft Heinz Company with 0.84%, and Tata Consumer Products Limited with 0.81%.
The top opportunities in the coffee and tea market segmented by type will arise in the coffee segment, which will gain $20,139.8 million of global annual sales by 2026. The top opportunities in segment by form will arise in the powder segment, which will gain $26,389.8 million of global annual sales by 2026.
The top opportunities in segment by packaging will arise in the containers segment, which will gain $13,495.9 million of global annual sales by 2026. The top opportunities in segment by distribution channel will arise in the convenience stores segment, which will gain $16,184.8 million of global annual sales by 2026. The coffee and tea market size will gain the most in China at $6,990.6 million.
Market-trend-based strategies for the coffee and tea market include focusing on premium products, manufacturing organic products, leveraging blockchain technology and introducing artificial intelligence to improve the product quality.
Player-adopted strategies in the coffee and tea market include providing new experiences to customers through collaborations and partnerships, expanding global footprint through joint ventures and partnerships and focusing on strategic acquisitions.
| Report Attribute | Details |
| No. of Pages | 385 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $101365.84 Million |
| Forecasted Market Value (USD) by 2031 | $171510.93 Million |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Company Profiles
- Nestle S.A.
- Louis Dreyfus Company B.V.
- Unilever plc
- J.M. Smucker Company
- The Coca-Cola Company
Key Mergers And Acquisitions
- JDE Peet's Acquired Les 2 Marmottes
- CVC Capital Partners Fund VIII Acquired Unilever Tea Business Ekaterra
- Gala Capital Partners Acquired Dunn Brothers Coffee
- SYSTM Foods Acquired Chameleon Organic Coffee
- Ningji Acquired Changsha-Based Coffee Brand RUU
- Masan Acquired Stakes Of Phuc Long Tea And Coffee Brand
- Melitta Group Acquired Corsino Corsini
- Zetland Capital Acquired Typhoo Tea
- JAB Holding's JDE Peet's Acquired Campos Coffee
- Lifebrands Acquired Revolution Tea
- Westrock Coffee Company Acquired S&D Coffee & Tea
- Jollibee Foods Corporation Acquired The Coffee Bean & Tea Leaf
- Tata Global Acquired Dhunseri's Branded Tea Business
- Unilever Acquired TAZO brand from Starbucks
Key Topics Covered:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Coffee And Tea Market Definition and Segmentations
6.4. Market Segmentation By Type
6.4.1. Coffee
6.4.2. Tea
6.5. Market Segmentation By Form
6.5.1. Liquid
6.5.2. Powder
6.5.3. Capsules
6.6. Market Segmentation By Packaging
6.6.1. Containers
6.6.2. Bags
6.6.3. Packets or Pouches
6.7. Market Segmentation By Distribution Channel
6.7.1. Supermarkets/Hypermarkets
6.7.2. Convenience Stores
6.7.3. E-Commerce
6.7.4. Other Distribution Channels
7. Product/Service Analysis -Product/Service Examples
8. Supply Chain Analysis
8.1.1. Producer
8.1.2. Manufacturers
8.1.3. Wholesalers and Distributors
8.1.4. Retailers
8.1.5. End Users
9. Customer Information
9.1. People Are Drinking More Coffee Whilst Working From Home
9.2. Coffee Drinkers Perk Up In The Morning, Tea Drinkers In The Afternoon
9.3. People Can't Function Without Tea Or Coffee
9.4. Coffee Consumption Hits Two-Decade High
9.5. Male Students Had More Tendencies Towards Caffeine Consumption Than Females
9.6. Indians Love Tea Over Coffee
10. Major Market Trends
10.1. Increasing Launch Of Premium Products
10.2. Focus On Organic Products
10.3. Integration of Blockchain Technology
10.4. Product Innovations
10.5. Artificial Intelligence
For more information about this report visit https://www.researchandmarkets.com/r/uk6fd2
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