Coffee Market Growth Trajectory – Insights On Key Drivers, Major Trends, And Top Opportunities
12 Jul, 2023
The global coffee concentrates, essences and extracts market size is expected to grow from $23.29 billion in 2022 to $24.97 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global coffee concentrates, essences and extracts market size is expected to reach $31.01 billion in 2027 at a CAGR of 5.6%.
Global Coffee Market Key Driver
Increasing coffee consumption is likely to drive the expansion of the coffee concentrate, essence, and extract market in the future. Coffee is a beverage made from roasted coffee beans, whereas coffee consumption is the quantity of caffeine a person consumes each day. People love coffee because of its numerous benefits, such as improving mental sharpness, refreshing one's mood, and boosting metabolism; as a result, the demand for coffee concentrate, essence, and extract markets is increasing.
Get a sample of the global coffee market reportGlobal Coffee Market Segments
The global coffee market is segmented:
1) By Product Type: Whole-Bean, Ground Coffee, Instant Coffee, Coffee Pods, Capsules
2) By Application: Hot Drinks, Ready-To-Drink Coffee, Flavored Beverages
3) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Speciality Stores, Online, Other Channels
4) By End Use: HoReCa (Hotels, Restaurants, Cafe And Caterers), Retail
5) By Geography: The regions covered in the coffee market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global coffee market.
Major Coffee Industry Players
Nestlé S.A., The Kraft Heinz Company, Starbucks Corporation, The J. M. Smucker Company, JAB Holding Company, Strauss Coffee B.V., Luigi Lavazza S.p.A., Tata Consumer Products Limited, UCC Europe Limited, Steamy Bean Coffee LLC, The Busy Bean Coffee Co., Boston Barista, JumpStart Coffee, Trung Nguyen, The Steam Room
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Coffee Market Overview
Coffee concentrates, essences, and extracts refer to a product where coffee beans and alcohol are used to create a concentrated coffee flavoring that can be used in baked goods, ice cream, and cocktails.
Coffee Global Market Report 2023 provides data on the global coffee market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The coffee market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.