New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Coffee Global Market Report 2023" - https://www.reportlinker.com/p06464097/?utm_source=GNW
, Boston Barista, JumpStart Coffee, Trung Nguyen, and The Steam Room.
The global coffee market is expected to grow from $61.45 billion in 2022 to $66.13 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%.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, and affecting many every markets across the globe. The coffee market is expected to reach $83.24 billion in 2027 at a CAGR of 5.9%.
The coffee market consists of sales of Liberica coffee, Cappuccino, Caffe Americano, and Espresso.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 is a beverage or powder made from the roasted ground or crushed seeds of the two-seeded fruit of a tropical tree or shrub of Coffee species of the madder family, especially C. arabica and C. canephora. It is mainly drunk for refreshments.
Europe was the largest region in the coffee market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the coffee market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of coffee are whole-bean, ground coffee, instant coffee, coffee pods, and capsules.Whole bean coffee is referred to as coffee that has undergone all production stages picking, sorting, deseeding, fermenting, drying, and roasting aside from grinding.
They are available in hot drinks, ready-to-drink coffee, and flavored beverages for various applications and distributed by different channels including supermarkets and hypermarkets, convenience stores, specialty stores, online, and others for end users such as Horeca (hotels, restaurants, cafe & caterers) and retail.
Increasing consumption of coffee is expected to propel the growth of the coffee market going forward.Coffee is a beverage made from dark brown powder obtained from crushed coffee beans.
People are consuming coffee beverages highly due to its taste and nutritional benefits, such as high antioxidants and vitamins such as riboflavin, magnesium, and potassium.It is also found to reduce the onset of heart diseases, and this increased consumption has further boosted the sale and revenue of coffee.
For instance, as per statistics published in March 2022, by the National Coffee Association, a US-based coffee industry trade association, Coffee is consumed by 66% of Americans every day, more than any other beverage, including tap water, and has grown by nearly 14% since January 2021. Therefore, the increasing consumption of coffee drives the coffee market.
Product innovation is a key trend gaining popularity in the coffee market.Major companies in the coffee sector are focused on launching innovative products to improve customer experience and strengthen their market position.
For instance, in October 2022, Blue Bottle, a Nestle-owned US-based cafe retailer and specialty coffee roaster, launched premium instant coffee, Craft Instant Espresso, produced using premium beans, a unique roasting method, and a slow freeze-drying procedure. Craft Instant Espresso was introduced to enable consumers to prepare premium drinks at home without expensive equipment or brewing knowledge.
In March 2021, Stonewall Kitchen, a US-based specialty food producer, acquired Vermont Coffee Company for an undisclosed amount.Through the acquisition, Stonewall Kitchen plans to improve its product portfolio and strengthen its position in the food industry.
Vermont Coffee Company is a US-based organic coffee producer.
The countries covered in the coffee 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 market research report is one of a series of new reports that provides coffee market statistics, including coffee industry global market size, regional shares, competitors with a coffee market share, detailed coffee market segments, market trends, and opportunities, and any further data you may need to thrive in the coffee industry. This coffee 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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