Press release
Global Coffee And Tea Market to Reach $171.97 Billion by 2029, Growing at 6.6% CAGR
Coffee And Tea Market Segments
The surge in preference for ready-to-drink (RTD) beverages is projected to fuel the growth of the coffee and tea markets in the coming years. RTD beverages, designed to be consumed immediately post-purchase, are gaining traction among the working population due to their comprehensible labels and utility. The launch of various novel flavors in RTD tea and coffee, along with their portability and convenience factor, is set to escalate the demand for these beverages. For example, Monster Beverage Corporation, a US-based company that produces energy drinks, reported in February 2023 that their Monster Energy Drinks segment's net sales saw a 2.6 percent rise to $1.39 billion in the last quarter of 2022, a noticeable increase from $1.35 billion in the same quarter of the previous year. The uplift in demand for RTD beverages, notably RTD coffee and tea, is anticipated to propel the coffee and tea market growth in the future.
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What is the future CAGR of the coffee and tea market, and how will it impact industry expansion?
The market size for coffee and tea has experienced significant growth in the last few years. The value is projected to increase from $124.72 billion in 2024 to $133.2 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. The prior growth can be traced back to heightened consumption of coffee and tea, the rise in interest towards ready-to-drink (RTD) beverages, and governmental initiatives.
In the next few years, significant expansion is anticipated in the coffee and tea market, which is projected to reach $171.97 billion in 2029, expanding at a compound annual growth rate (CAGR) of 6.6%. This growth during the forecast period may be ascribed to factors such as increased investments, the surge in demand for coffee especially among millennials, and a rise in the count of coffee shops. Key trends to look out for during this period would be emphasis on high-end products, production of organic goods, adoption of blockchain technology, and implementation of artificial intelligence to enhance product quality.
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What are the most significant trends transforming the coffee and tea market today?
The trend of coffee companies offering subscription services to their clients is gaining traction. These services charge consumers a fixed fee on a weekly or monthly basis for delivering coffee products to their home. They present numerous benefits to their subscribers. Firstly, they provide an opportunity for consumers to try out products from a wider range of expert roasters than they might in even the most populated coffee regions. Some services boast the capacity to distribute products from hundreds of unique roasters. Secondly, these services guarantee the freshness of their products because shipments are often dispatched immediately post-roasting, preventing the coffee beans from sitting on store shelves. Some of the renowned coffee subscription services comprise Atlas Coffee Club, Driftaway Coffee, Blue Bottle Coffee, JavaPress Coffee, Mistobox, Bean Box, Craft Coffee, and Pact Coffee.
Which key market segments comprise the coffee and tea market and drive its revenue growth?
The coffee and tea market covered in this report is segmented -
1) By Type: Coffee, Tea
2) By Form: Liquid, Powder, Capsules
3) By Packaging: Containers, Bags, And Packets Or Pouches.
4) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce And Other Channels
Subsegments:
1) By Coffee: Ground Coffee, Instant Coffee, Coffee Pods and Capsules, Whole Bean Coffee, Specialty Coffee
2) By Tea: Black Tea, Green Tea, Herbal Tea, Oolong Tea, White Tea, Tea Bags, Loose Leaf Tea
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What regions are at the forefront of coffee and tea market expansion?
Asia-Pacific was the largest region in the coffee and tea market in 2024. Western Europe was the second-largest region in the coffee and tea market. The regions covered in the coffee and tea market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the coffee and tea market?
Major companies operating in the coffee and tea market include Nestle S.A., Louis Dreyfus Company B.V., Unilever plc, J.M. Smucker Company, Suntory Holdings Limited, Ito En, Ltd., Uni-President Enterprises Corporation, The Kraft Heinz Company, Tata Consumer Products Limited, CCL Products, Neelamalai Agro, Fukujuen, Harada Seicha, Cantarella Holdings Pty Ltd, Vittoria Food & Beverage, D E Holding Australia Pty Ltd, Caffe Bene, Luckin Coffee, Coffee Box, Pacific Coffee, Javaphile, JAB Holding Company, J Darboven GmbH & Co. KG, Alois Dallmayr KG, Tchibo, Golden Monkey Tea Company Limited, Olam International, Kerry Group plc, Orimi Ukraine, Greenfield, TESS, Java Coffee Company Sp. Z O.O, All4vending, Predom Service Fhu, Lafaye Sp. Z O.O, Serwis Ekspresow Do Kawy, Microcoff / Coffice Sp. Z O.O, Brijoye International Sp. Z O.O, PepsiCo, Mondelez International Inc, ADM, General Mills, Coco-Cola, The Hain Celestial Group, Cafe Arabo, Brazilian Canadian Coffee Co, Casa Fuentes, AVANTCHA Tea, RAW Coffee Company, AL Daria International, Afreeqya Naturally, Joffreys Coffee & Tea Company, & M. Smith (Pty) Ltd, Ethiopian Harrar Coffee, Kenya AA Coffee, Kaldi coffee.
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What Is Covered In The Coffee And Tea Global Market Report?
•Market Size Forecast: Examine the coffee and tea market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the coffee and tea market for a structured understanding.
•Key Players Overview: Analyze major players in the coffee and tea market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the coffee and tea market.
•Segment Contributions: Evaluate how different segments drive overall growth in the coffee and tea market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the coffee and tea market.
•Industry Challenges: Identify potential risks and obstacles affecting the coffee and tea market.
•Competitive Landscape: Review strategic developments in the coffee and tea market, including expansions, agreements, and new product launches.
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