Coffee Market Was Valued at USD 97.3 Billion in 2021 Owing to Rising Demand For Certified Coffee Products

According to Precision Business Insights (PBI) latest report the global coffee market is valued at USD 97.3 billion in 2021. Global coffee market segmented into following types: By Product Type (Whole-Bean, Ground Coffee, Instant Coffee, Coffee Pods, and Capsules), By Distribution Channel (On-trade, Off-trade (Supermarkets/Hypermarkets, Convenience Stores, Specialist Retailers, and Other Distribution Channels)), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East Africa) Forecast to 2028. Key player's profiles in the coffee market report are Tchibo GmbH, Massimo Zanetti Beverage Group, Starbucks Coffee Company, The Kraft Heinz Company, JM Smucker Company, Nestle, Steamy Beans Coffee, Trung Nguyen, The Busy Bean, Lavazza, Boston Barista. The factors such as increasing food administration outlets, urbanization, and the middle-class segment are some of the crucial parameters likely to boost the growth of the coffee market across the globe. Furthermore, the improving expectations for everyday comforts and moving work culture explicitly incorporating industry are also likely to catalyze the market's growth over the coming years. Although various aspects are projected to catalyze demand for coffee worldwide, certain factors may impede the market's growth. Some of the main parameters limiting the market's growth are developing urbanization and changing ways of living.

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Coffee Pods Segment Dominates the Coffee Market
Coffee pods are becoming widely popularized among the public (especially in North America and Western Europe) as a convenient way to make delicious coffee at home in less time. According to a poll performed by the National Coffee Association in the United States, over 70% of consumers prefer to prepare coffee at home. Several reasons are driving the industry, including rising demand for certified coffee products, customer acceptance of single-serve coffee brew systems, and ongoing innovation spearheaded by the major companies in the coffee market.

North America Leads Coffee Market:
During the forecast period, the North American Coffee Market is expected to increase at a CAGR of x %. With the rise in demand for non-alcoholic beverages and the prevalence of high-end coffee supplied by worldwide coffee chains such as Starbucks, The Coffee Bean, Tea Leaf, and others, the coffee market in North America is destined to explode. Fitness & wellbeing trends are on the rise in the North American region. The North American Coffee Market is growing due to a growing preference among homes for handmade coffee and a shift in customer preferences toward specialty coffee. Over the assessment period, the European regional coffee market is expected to grow. The existence of a large industry players across the region is a vital factor driving the regional economy.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global coffee market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In December 2021, The J.M. Smucker Co. and JDE Peet's announced a strategic partnership which will allow JDE Peet's to support the Smucker Away from Home liquid coffee business with product development, production, and foodservice equipment innovation. In Sept 2021, Yum China Holdings, Inc and Luigi Lavazza S.p.A. announced that they plan to accelerate the expansion of the store network of Lavazza cafés in China through the existing joint venture, aiming to open 1,000 stores by 2025.

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Detailed Segmentation
Based on the Product Type, the market is segmented into the following:
• Whole-Bean
• Ground Coffee
• Instant Coffee
• Coffee Pods and Capsules

Based on the Distribution Channel, the market is segmented into the following:
• On-trade
• Off-trade
• Other Distribution Channels

Based on the geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA
• Rest of MEA

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