Coffee Beans Market Growth Opportunities 2024 - Top Companies: Illycaff S.p.A., Caribou Coffee, Luigi Lavazza S.P.A., Peets Coffee & Tea, Inc.,

Coffee beans are seeds of coffee plants used to make different beverages of coffee. Though they are seeds, they are known as beans due to their appearance same as beans. There are two major types of coffee beans, arabica and robusta, which are prominent in the industry. Brazil is the biggest manufacturer of arabica beans, while Vietnam is the largest producer of robusta beans. Arabica beans grow easily and can be roasted easily. So, they are manufactured in huge volumes in the coffee beans industry. On the other hand, robusta is gaining prominence owing to possessing thrice the amount of caffeine and being more resistant to insect & disease resistant as compared to arabica. Besides offering antioxidants and energy, coffee beans reduces the risk of diabetes and Parkinson's disease. The consumption of coffee is increasing across the globe. According to the recent report by Allied Market Research, the global coffee beans market is expected to reach $15.63 billion by 2024, registering a CAGR of 6.1% from 2018 to 2024.

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The report segments the market based on product, end use, and geography. As mentioned earlier, arabica and robusta are two main product types of coffee beans. Moreover, coffee beans have been used in food, pharmaceutical, and personal care industries. Skin care products manufactured from coffee beans are gaining huge popularity. In addition, coffee beans contain fatty acids which can be used in spa treatments and production of balms. The usage of coffee beans is gaining traction in the pharmaceutical industry owing to its health benefits. Geographically, the market is further divided into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific region is gaining momentum in terms of consumption. India and China are expected to register a huge growth in next few years.

The global coffee beans market is driven by rise in consumption of coffee across various nations, expansion of retail industry, and health benefits related to coffee. Moreover, a decline in consumption of carbonated drinks would fuel the growth in the market. On the other hand, availability of substitutes including tea is expected to hinder the growth of the market in the future. Research initiatives such as recycling waste coffee beans would present new opportunities in the industry.

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Roadchef, a motorway service operator has joined hands with bio-bean, a firm recycling waste coffee beans into biofuel, to lessen the environmental impact. Used coffee beans will be collected from 28 sites of Roadchef by a resource recovery company Olleco. They will be transported to the bio-bean's factory in Cambridgeshire. At the factory, they will be dried, recycled, and transformed into useful products. Roadchef projected that there are about 7 million cups of coffee at every site each year. The company and bio-bean expected that nearly 200 tons of waste coffee grounds will be gathered from the sites by the end of 2018. Moreover, both projected that recycling waste grounds from these sites will save nearly 112 tons of greenhouse gas emissions as compared to their disposal in the landfill.

Key market players operating in the global coffee beans market would adopt various strategies to gain major market share in the industry. The Coffee Bean & Tea Leaf�, the world's largest roaster and retailers of specialty coffee, expanded their offerings of cold brew coffee for summer. The classic Vietnamese Cold Brew Coffee along with few seasonal flavors of Cold Brew Tea will be available till August 26. Cold brew coffee gained an immense popularity due to its smoothness and less acidic taste. Leading market players have been implementing different strategies to make their mark. Other key players include Death Wish Coffee, Kicking Horse Whole Beans, Caribou Coffee, La Colombe Corsica Blend, Illycaff S.p.A., Luigi Lavazza S.P.A., La Colombe Torrefaction, INC., Hawaiian Isles Kona Coffee Company, Ltd., Peets Coffee & Tea, Inc., and Coffee Beans International, Inc.

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Source: PRNewswire

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