Coffee Market is Anticipated to have a Significant CAGR of 4.6% from 2022 – 2028 | Precision Business Insights

In the coming years, coffee will remain a popular dairy drink in customers’ diets all over the world.

LONDON , UNITED KINGDOM, June 29, 2022 /EINPresswire.com/ -- The coffee market size¹ was valued at USD 109.01 Billion in 2021 and is projected to reach USD 149.35 Billion by 2028, growing at a CAGR of 4.6% over the forecast period. Coffee is a drink produced from the roasted beans of coffee trees. The form, size, color, and flavor of coffee beans vary depending on the place and environment in which they are cultivated. The coffee plant is native to Asia and Africa's subtropical regions. The coffee plant, on the other hand, is presently grown in Central and Latin America. The coffee is made from two different types of coffee beans: Robusta and Arabica, as well as a blend of the two.

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The Coffee Market - Growth Factors
Changes in work culture, especially in the corporate industry, as well as improving living standards, are expected to boost global demand. Companies updating their service strategies and building modern brands to boost service quality and, as a result, generating loyalty are other variables strengthening the global coffee market growth³. Rising sales of organic coffee are expected to drive up coffee demand in the near future as more people become aware of the health benefits associated with its consumption. The white-collar workforce, urbanization, and food services outlets, as well as a growing cafe culture among today's youth and greater disposable money, are all driving the global Coffee Market's expansion.

The Coffee Market – Segmentation
The Global Coffee Market on the basis of Product Type is segregated into Ground Coffee, Whole-Bean, Instant Coffee, and Coffee Pods and Capsules. In terms of Distribution Channel, the market is bifurcated into On-Trade and off-trade. On the basis of on-trade, the market is further divided into Cafes and Foodservice.

The Coffee Market Trend²:
• Coffee pods and capsules, as well as instant coffee, are now becoming increasingly popular among the general public.

The restraining factor of the Coffee market:
• Throughout the projected period, price changes in coffee beans, and also climate change, which could result in a supply shortfall, could limit the market growth.

The Coffee Market –Regional Analysis
Due to rising coffee consumption in China, India, and the Philippines, wherein coffee demand is highest, the Asia-Pacific area is the second-largest region with 2700 tonnes of coffee consumption. As demand for coffee rises and Southeast Asian countries appear as demand-creating countries in 2020, the Asia-Pacific region has the potential to surpass Europe in the next five years.

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Impacts of the COVID-19 Pandemic on the Global Coffee Market
The COVID-19 outbreak has added to the pressures facing the coffee industry, which is already sensitive to global coffee price swings, low productivity, extreme weather events, and pest and disease damage all over the world.

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Satya Prabhu
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² https://precisionbusinessinsights.com/market-reports/global-coffee-market/
³ https://precisionbusinessinsights.com/market-reports/global-coffee-market/