Coffee Concentrate Market Segmented by variety: Arabica , Robusta ;by caffeine content: Regular , Decaffeinated ;by flavor : Regular , Flavored ; By Product Type - Cold Brew Coffee Concentrate,Dolce Iced Coffee Concentrate,Top Roast Coffee Concentrate,Bla
Coffee Concentrate Market: Soaring Demand for New Coffee Drinks, Driven by Millennials
The major drivers for the coffee concentrate market are the growing ready-to-drink market and coffee industry. Coffee is the one of the most popular beverages in the world. The increasing popularity of ready-to-drink products is increasing the demand for coffee concentrates in the market. The high paced lifestyles of consumers is shifting the choice of people from traditional coffee to the concentrate form. The use of instant coffee in homes and offices is likely to create opportunities for the coffee concentrate market.
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The allure of drinking coffee has become a part of everyday life, or in some cases, an addiction – of today’s growing number of millennial population. Increasing urbanization and development in mid-sized cities, the expansion of a number of multinational and foreign retail brands, and providing consumers with products at an ease are driving the market for coffee concentrates, iced coffee, cold brew coffee, and many others. In addition, the growing population, the advent of Western culture, and the increasing awareness of coffee-based beverages among people, globally, are supporting the demand for coffee concentrates in the global market.
For instance, in the global coffee market, the millennial population accounts for the largest group of coffee consumers, especially in North America and Asia Pacific, and are also driving a shift in coffee consumption out-of-home. In addition, the demand for coffee is also increasing due to the millennial population’s preference for higher quality coffee blends, flavored coffee drinks, and others. Consumers are primarily switching to new coffee drinks from traditional coffee.
Coffee concentrate is an easy-to-use product in comparison to traditional ice coffee which is high in demand in developed countries. This is creating equal opportunities for the coffee concentrate market. The buzz on out-of-home coffee consumption is driving the coffee concentrate market. Consumers are incurring higher expenditure on out-of-home food and beverage consumption. Furthermore, the increasing number of hotels, restaurants, cafés, coffee chain outlets, and others is also boosting the demand for coffee concentrates in the foodservice industry. Consequently, in developing economies, it has been seen that, there is a rapid expansion of branded coffee chains outlets in recent years.
In its product type, cold brew coffee concentrate is the leading segment in the global coffee concentrate market, attributed to the growing demand for instant coffee among consumers. Black coffee concentrate is directly used by consumers, and will continue to lead in the coming years.
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Coffee Concentrate Market: Key Players
Some of the key market players in the global coffee concentrate market are:
Key players in the coffee concentrate market are PepsiCo, Tata international, Kraft Foods Group Inc., Synergy Flavors Inc., Grady’s Cold Brew, Ueshima Coffee Co., Ltd, Cristopher Bean Coffee, Death Wish Coffee Company LLC, New Orleans Coffee Co, Inc., Royal Cup Coffee, Station Cold Brew Coffee Co. Ltd, and Kohana Coffee.
Coffee Concentrate Market: Key Developments
In North America and Europe, cold brew coffee is gaining popularity as compared to other coffee concentrates. Especially, supermarket/hypermarket stores are selling a wide range of cold brew coffee concentrates, attracting customers who spend more on beverages. The sales of coffee concentrate products have witnessed a significant increase in the U.S., U.K., Germany, France, Italy, and other European countries in the recent past. The Nestle has launched four new varieties of coffee concentrates. Furthermore, by launching a new product line of coffee concentrates, the company is also supporting the coffee communities for whom it works towards social, economic, and environmental initiatives.
For instance, in 2017, Nestlé Professional expanded its business of coffee with the launch of NESCAFÉ Cold Brew Coffee Concentrate. This new product, available in packs of 12 30-ounce cartons, allows operators to simply mix it with water and serve over ice, which is an easy, efficient alternative to the operational complexity of slow brewing cold brew coffee in house. S&D Tea and Coffee launched Toddy cold brew coffee concentrate.
Companies are adopting the strategy of strategic alliances/partnerships with regional food and beverage brands in Asia Pacific, North America, and the Middle East, in order to enhance their global footprints in coffee concentrates, and also the primary focus is towards the expansion of coffee chain outlets.
In the global coffee market, companies are paying greater emphasis towards product differentiation and product innovation, as consumers are shifting from multi-serve to single serve coffee or single-origin coffee drinks. In terms of product innovation, companies are offering RTD coffee, cold brew coffee concentrates, flavored coffee drinks, coffee pods, and others.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
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