Global Coffee Market Likely to Reach USD 141.31 Billion by 2028

 Posted on: Nov-2022 | Food & Beverage

The global Coffee market size was estimated to be worth roughly USD 102.32 billion in 2021 and is projected to grow to around USD 141.31 billion by 2028. The Global Coffee market is predicted to grow at a CAGR of roughly 4.72% during the forecast period.

The term "coffee" describes a brewed beverage prepared from roasted coffee beans. These beans are the seeds from berries that are produced by particular coffee species. Coffee beans are picked, processed, and finally dried when they turn from green to a bright red colour. The ripeness of the berries is indicated by a change in colour.

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In emerging regions, there is an increase in coffee consumption, with exports leading the supply chain. Although its consumption is not likely to reach new highs, coffee will continue to be a common dairy beverage in consumer diets around the world in the coming years. Coffee production may also gain from enticing government subsidies intended to promote the expansion of cash crops.

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Furthermore, from 2020 to 2030, an increase in consumer disposable income, the presence of white collar demographics, and an increase in the number of food service outlets are projected to have a significant impact on the growth of the global coffee market. An enormous demand for coffee has been created by an improved standard of living and a change in work ethic, notably in the corporate world. The worldwide coffee industry is anticipated to gain from an increase in demand for organic coffee as a result of growing knowledge of its health benefits between 2020 and 2030.

However, fluctuating prices of coffee beans hampers market growth. Changing prices have an impact on production costs, which further influences how much a product will cost. The manufacturers' profits might suffer as a result. As a result, the market for coffee cannot expand due to fluctuating coffee bean prices

The global Coffee market is segmented based on product type, distribution channel and region.

The market is segmented into whole-bean, ground coffee, instant coffee, coffee pods, and Others based on product type. In the coffee market, a sizeable market share for the instant coffee category is predicted. Coffee beans that have been ground or ground into a powder are used to make the widely consumed instant coffee. Its accessibility, affordability, and ease of consumption all contribute to this attraction. The availability of instant coffee in a wide range of tastes contributes to its growing appeal. Furthermore, instant coffee is low in caffeine and high in antioxidants, which help with metabolism. Over the next several years, it is projected that all of these factors would speed up industry expansion.

Coffee Market Scope and segmentation

 Attribute 

Details

Market Size in 2021

USD 102.32 billion

Estimated Market Size in 2028

USD 141.31 billion

CAGR Growth Rate

4.72% CAGR

Historical Year

2016 to 2021

Forecast Years

2022-2028

Segment Covered

By Product

BY Distribution Channel

Major Regions Covered

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • UK
    • Germany
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • The Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, growth factors, and recent trends

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Europe is an attractive region among the manufacturers of coffee. The creation of new products with technological advancements, the rising demand for convenient coffee capsules and pods, as well as the adoption of automatic bean-to-cup machines, are just a few of the causes that may be credited to the domination of the regional market. Additionally, the highest coffee consumption in the world is found in a number of European nations. The largest coffee-consuming nations in the world include Finland, Norway, Iceland, Denmark, the Netherlands, Sweden, Switzerland, Belgium, and Luxembourg.

List of Prominent Players in the Coffee Market

  • Steamy Beans Coffee.
  • The Busy Bean.
  • Boston Barista.
  • Jumpstart Coffee.
  • Mugs Coffee.
  • The Steam Room.
  • Espresso Express.
  • Nestle
  • JM Smucker Company
  • The Kraft Heinz Company
  • Starbucks Corporation
  • Keurig Dr. Pepper
  • F. Gavina and Sons, Inc.
  • JDE Peet's
  • AMT Coffee Ltd
  • Lavazza
  • Trung Nguyen
  • Others      

Recent Developments:

In July 2018, Keurig Dr Pepper made an announcement of the successful merger of Dr Pepper Snapple Group and Keurig Green Mountain. This merger has resulted in the formation of the seventh largest food and beverage firm in the US.

In August 2020, Coca Cola North America has announced a new Coca Cola with Coffee brand of ready-to-drink products expected in aisles across the United States in January 2021.

The segment covered in Report

By Product Type

  • Whole-Bean
  • Ground Coffee
  • Instant Coffee
  • Coffee Pods
  • Others

By Distribution Channel

  • On-Trade
  • Off-Trade

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