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Instant Coffee Market Forecast Report Showing All Growth Opportunities And Trends Analysis Through The Time Period From 2017 To 2025
Instant coffee has gained significant popularity among consumers in the recent times. Thanks to the convenience it provides to the consumers in terms of time and preparation, its demand has been rocketing across the world, reflecting substantially on the global instant coffee market. The easy availability of instant coffee across various channels has been contributing considerably to its rising popularity.
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The world market for instant coffee stood at an initial market valuation of around US$ 28.12 bn in the year 2016. This market valuation is anticipated to reach an overall valuation of around US$ 42.5 bn by the end of the year 2025. This growth of the world market for instant coffee is projected to be achieved with the assistance of a sound CAGR of 4.8% over the course of the given forecast period that extends from the year 2017 to 2025.
Asia Pacific to Lead the Market over the Period of Forecast
The world market for instant coffee has been regionally segmented into the geographies of Latin America, North America, Asia Pacific, Middle East and Africa, and Europe. With a share of around 35.7%, the region of Asia Pacific dominated the overall market in the year 2016 and is anticipated to remain on top over the next few years to come. The increasing interest of consumers for instant coffee in India and China has been driving the said market for instant coffee in Asia Pacific.
Amongst others, the demand for instant coffee is particularly high in the Rest of Europe. Various countries, such as Bulgaria, Russia, and Poland demonstrate a considerably high rate of demand, which is estimated to continue to rise in the years to come, thereby retaining the second position in the world instant coffee market. North America, on the other hand, is anticipated to witness a decline in the demand for instant coffee in the near future owing to greater preference for filter coffee.
Evolving Consumption Pattern to Fuel Market Growth
Instant coffee has become quite popular amongst the common people due to rising urbanization and economic growth. This comes down to the fact that people have more money to spend and also they prefer instant beverages as opposed to those that have waiting time.
Ever evolving lifestyle and consumption patterns across the globe has been one of the driving factors for augmented demand for instant coffee. Easy preparation of instant coffee and its ready availability in a wide variety of flavors and formats are a few of the major driving factors for the growth of international instant coffee market. Furthermore, instant coffee comes with a higher shelf life due to its powdered texture and that makes it more commercial and popular amongst the vendors. Many of the popular instant coffee brands are advertising their specialty instant coffees which have resulted in the boost of world instant coffee market.
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The prominent market players that are operating in the world market for instant coffee are focusing on product innovation and are involving various acquisitions and mergers so as to expand their global presence. Some of the market players that are now dominating the world market are Keurig Green Mountain, Starbucks Corp., Tata Global Beverages, Tchibo coffee, Jacobs Douwe Egberts, Matthew Algie & Co. Ltd., Nestlé S.A., The Kraft Heinz Co., Strauss Group Ltd., and Unilever Plc.
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