New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Coffee Concentrates, Essences And Extracts Global Market Report 2023" - https://www.reportlinker.com/p06464092/?utm_source=GNW
, Cristopher Bean Coffee, Nestle SA, Slingshot Coffee Co., Synergy Flavors Inc., Artemis Brew LTD., Monin Incorporated, S&D Coffee Inc., and Aspen Beverage Group.
The global coffee concentrates, essences and extracts market is expected to grow from $23.29 billion in 2022 to $24.97 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The coffee concentrates, essences and extracts market is expected to reach $31.01 billion in 2027 at a CAGR of 5.6%.
The coffee concentrates, essences and extracts market consists of sales of original coffee and flavored coffee.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Coffee concentrates, essences, and extracts refer to a product where coffee beans and alcohol are used to create a concentrated coffee flavoring that can be used in baked goods, ice cream, and cocktails.
North America was the largest region in the coffee concentrates, essences and extracts market in 2022. The regions covered in coffee concentrates, essences and extracts report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of coffee concentrates, essences, and extracts are cold brew coffee concentrate, iced coffee concentrate, top roast coffee concentrate, and black coffee concentrate.Cold brew coffee concentrate refers to a special concentrate that is made by steeping roasted coffee beans in cold or room-temperature water for several hours.
The various varieties include arabica, and robusta with various caffeine content such as regular, and decaffeinated. These are distributed through various distribution channels such as supermarkets and hypermarkets, online stores, and convenience stores.
The increasing consumption of coffee is expected to propel the growth of the coffee concentrate, essence, and extract market going forward.Coffee refers to a beverage that is prepared from roasted coffee beans, whereas coffee consumption refers to the amount of caffeine an individual consumes per day.
People are preferring coffee due to its various benefits such as it improves mental acuity, freshening the mood of a person, and boosting metabolism, as a result, this increases the demand for coffee concentrate, essence and extract markets. For instance, in November 2022, according to International Coffee Organization (ICD), a UK-based federal agency for coffee, the export of coffee extract in the first two months of 2022/23 increased by 1.6% to 19.56 million bags compared with 19.25 million bags in the same period in 2021/22. Therefore, increasing consumption of coffee drives the coffee concentrate, essence, and extract market.
The introduction of innovative products has emerged as a key trend gaining popularity in the coffee concentrate, essence, and extract market.Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market and companies are paying greater emphasis on product differentiation and product innovation.
For instance, in March 2023, Reborn Coffee, a US-based retailer of specialty coffee, launched a line of unique and super-premium cold brew ice creams using coffee extract and concentrates. This new line of products is unique as it uses natural ingredients to provide excellent flavors, with a rich and creamy texture that sets it apart from other ice cream brands.
In November 2022, Westrock Coffee, a US-based manufacturer of integrated coffee and tea extract service providers acquired Kohana Coffee for an undisclosed amount.The acquisition of Kohana Coffee allows Westrock Coffee to accelerate the development, production, and distribution of RTD products in cans and multi-serve bottles to customers of both Kohana Coffee and Westrock Coffee.
Kohana Coffee is a US-based provider of coffee extract and has an RTD-focused business in California.
The countries covered in the coffee concentrates, essences and extracts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The coffee concentrates, essences, and extracts market research report is one of a series of new reports that provides coffee concentrates, essences, and extracts market statistics, including coffee concentrates, essences, and extracts industry global market size, regional shares, competitors with a coffee concentrates, essences and extracts market share, detailed coffee concentrates, essences, and extracts market segments, market trends and opportunities, and any further data you may need to thrive in the coffee concentrates, essences and extracts industry. This coffee concentrates, essences, and extracts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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