Global Coffee Market Overview
Coffee is one of the most popular beverages around the globe, due to which coffee bean is the second most highly traded commodity in the global market after petrochemical products. More than 25 million farmers are involved across the world to produce coffee in more than 50 different countries. The quality, efficiency, and diverse choices offered in a single serving of coffee are responsible for the growth of the market studied. Arabica is the most produced coffee in the world, followed by Robusta. Hence, key players are coming up with product innovations, mainly related to Arabica coffee. In developed economies, some consumers are expected to switch from instant coffee to more premium options, in terms of quality and flavor. Instant coffee was once attributed a high-end product.
Global Coffee Market was valued at USD 120.48 billion in 2021 and is expected to reach USD 166.39 billion by the year 2028, at a CAGR of 4.72%.
Players Covered in Coffee Market are:
- Nestle SA
- JAB Holding Company
- The Kraft Heinz Company
- Strauss Group Ltd
- Starbucks Coffee Company
- The J.M. Smucker Company
- Luigi Lavazza SPA
- The Coca-Cola Company
- Tata Global Beverages
- Tchibo GmbH and other major players.
Coffee Market Segment by Product Types, Estimates, and Forecast by 2028
Whole Bean Coffee, Ground Coffee, Instant Coffee, Coffee Pods, Capsules
Coffee Market Segment by Applications, Estimates, and Forecast by 2028
On Trade, Off Trade
Regional Analysis for COVID-19 Outbreak-Global Coffee Market:
- APAC (Japan, China, South Korea, Australia, India, and Rest of APAC)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
- North America (U.S., Canada, and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, UAE, South Africa)
Key Industry Developments In Coffee Market
In February 2020, Starbucks introduced ready-to-drink Starbucks Nitro Cold Bew cans in collaboration with PepsiCo Inc. The drinks are available in various varieties such as black, vanilla sweet cream, and dark caramel, and they are filled with nitrogen gas.
In November 2019, Leading key player Luigi Lavazza SPA introduced total compostable coffee pods with packaging, design by the path. The company targeted to remove its entire range of aluminum capsules with new trends such as eco-friendly ones, by the end of the year with the same cost.