Wilmington, Delaware 19801, March 11, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Coffee Substitute Market By Product Type (Herbal Coffee Substitutes, Grain-based Coffee Substitutes, and Plant-based Substitutes), Packaging (Pouches and Cans), and Distribution Channel (Hypermarkets/Supermarkets, Departmental Stores, Convenience Stores, and Online Sales Channels): Global Opportunity Analysis and Industry Forecast, 2022–2032". According to the report, the global coffee substitute market was valued at $1,288.9 million in 2022, and is projected to reach $1,912.9 million by 2032, registering a CAGR of 4.2% from 2023 to 2032.
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Prime determinants of growth
The rapid growth of coffee substitute is majorly driven due to rise in awareness regarding coffee substitute and its benefits, along with addition of functional ingredients and introduction of various substitute in coffee substitute products. There has been a growing availability of coffee substitutes, which has further made it easier for consumers to avail it with convenience. Moreover, upsurge in demand for organic and sustainable products and rise in concern of negative impact of coffee plantation on environment, have created demand for substitute in recent years.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $1,288.9 Million |
| Market Size in 2032 | $1,912.9 Million |
| CAGR | 4.2% |
| No. of Pages in Report | 275 |
| Segments covered | Product Type, Packaging, Distribution Channel, and Region. |
| Drivers | Rise in awareness regarding coffee substitute and its benefits |
| Addition of functional ingredients and introduction of various substitute | |
| Growing availability of coffee substitutes | |
| Opportunities | Upsurge in demand for organic and sustainable products |
| Rise in concern of negative impact of coffee plantation on environment | |
| Restraints | High prices of coffee substitutes |
| High competition from coffee products | |
| Limited shelf life and perishable nature of goat cheese products |
The herbal coffee substitute segment to maintain its dominance during the forecast period
By product type, the herbal coffee substitute segment held the highest market share in 2022, accounting for more than half of the global coffee substitute market revenue and is estimated to maintain its dominance during the forecast period. The use of ingredients such as dandelion roots, chicory, roasted barley, carob, cinnamon, and others provides many health benefits, which is an essential factor that drives the growth of this segment. Rise in consumer emphasis on health-conscious choices, caffeine sensitivity, and diverse flavor profiles has fueled the demand for dandelion, chicory, and roasted herbal coffee substitutes. These alternatives are considered as more health-friendly owing to their caffeine-free nature and potential digestive benefits. In addition, their unique roasting processes offer a coffee-like experience without the actual use of coffee beans. Thus, this segment is expected to grow in coming years.
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The pouches segment to maintain its dominance during the forecast period
By packaging, the pouches segment held the highest market share in 2022, accounting for more than four-fifths of the global coffee substitute market and is estimated to maintain its dominance during the forecast period. Pouches offer convenience and portability, enabling consumers to easily transport single-serving pouches for on-the-go coffee substitute preparation. The resealable feature of many pouches preserves product freshness, which safeguards the flavor and aroma of the product. Single-serving pouches cater to the demand for quick, controlled servings, especially valuable for busy consumers. Sustainability is a growing concern, and eco-friendly pouch designs align with environmentally conscious consumers, which drives the demand for pouch packaging in the coffee substitute market.
The hypermarkets/supermarkets segment to maintain its dominance during the forecast period
By distribution channel, the hypermarkets/supermarkets segment held the highest market share in 2022, accounting for more than one-third of the global coffee substitute market and is estimated to maintain its dominace during the forecast period. Availability of different brands of coffee substitute products along with different packaging of products drives the growth of the segment significantly. In addition, increase in popularity of supermarkets due to the convenience provided for offering a wide range of products under one roof, along with arranging ample parking space with timeless operations makes it a favored option for shopping. In addition, the product arrangement is done by placing similar products near each other, so the consumer is able to compare them easily and have a smooth buying decision.
Europe to maintain its dominance by 2032
Region-wise, Europe held the highest market share in terms of revenue in 2022 and is expected to dominate the market during the forecast period. Coffee substitute consumption in North America has increased significantly in recent years, owing to the shift in preferences of people from regular coffee beverages to healthier options. In addition, rise in interest in herbal and natural beverages, coupled with increase in awareness of the health benefits associated with coffee substitutes, has contributed to its popularity in the region. North American consumers are fond of alternatives to traditional caffeinated beverages and are inclined toward coffee substitute for its caffeine-free and relaxation properties. As a result, coffee substitutes can be found in specialty coffee shops, supermarkets, and online platforms, which cater to the diverse tastes and preferences of consumers in North America. The key players are launching new products to expand their business operations across different countries in this region and increase their customer base.
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Leading Market Players: -
- Teeccino Caffe Inc.
- Rasa, Inc.
- Coffig for Life, LLC
- Crio Bru LLC,
- Caf-Lib
- MediDate
- Tattva's Herbs LLC
- Choffy Inc.
- Wooden Spoon Herbs
- Dandy Blend
The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter’s five forces analysis to determine the factors affecting market growth.
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