Global Coffee Market: Overview
Coffee refers to a brewed drink that is made from roasted coffee beans. These beans are the seeds of berries that come from certain species of Coffee. When coffee beans change its color to bright red from green, they are first picked, processed, and then dried finally. Change in the color indicates ripeness of the berries. Coffee offers an effect of revitalization due to the presence of caffeine in the beverage, which is likely to play an important role in the growth of the global coffee market over the timeframe of analysis, from 2020 to 2030.
This beverage is consumed widely and is considered one of the most popular drinks in the world. Coffee is presented and prepared in different ways and is served either as iced or hot coffee. According to some of the clinical studies, coffee consumption in modest amount is slightly advantageous for healthy adults. These factors are estimated to drive the growth of the global coffee market in the years to come. Emerging trend of café culture amongst the young generation along with rapid urbanization is further anticipated to drive the demand for coffee in the near future.
The global coffee market has been segmented on the basis of three important parameters, which are product type, distribution channel, and region.
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Global Coffee Market: Notable Developments
One of the latest developments in the global coffee market that is likely to leave an impact on the market is mentioned as below:
- In July 2018, Keurig Dr Pepper made an announcement of 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.
Some of the leading companies in the global coffee market include the following:
- The Coca-Cola Company
- Starbucks Corporation
- JAB Holding Company
- Keurig Dr Pepper Inc.
- The Kraft Heinz Company
- JM Smucker Company
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Global Coffee Market: Key Trends
The global coffee market is characterized by the prevalence of the following challenges, market drivers, and promising opportunities.
Rise in the Disposable Income and Improvement in Standard of Living to Shoot Up Demand
A rise in the disposable income of the people together with presence of white collar demographics and rising number of food service outlets are likely to play an important role in the growth of the global coffee market over the timeframe of analysis, from 2020 to 2030. Improved standard of living along with shifting of work culture, particularly in the corporate world has generated immense demand for coffee. Rise in demand for organic coffee owing to increasing awareness about its health benefits is estimated to work in favor of the global coffee market over the timeframe of assessment, from 2020 to 2030.
In addition to that, introduction of different flavors of coffee by various companies, such as Starbucks Corporation, Café Coffee Day (CCD), and Barista Coffee Company Limited are likely to help coffee gather momentum in the years to come.
Global Coffee Market: Geographical Analysis
In the global coffee market, it is estimated that Latin America will dominate the market accounting for a sizeable chunk of the market. Such prominence of the Latin America region is expected to be driven by the presence of some of the leading coffee producers in the world.
Asia Pacific is estimated to come up as a rapidly growing region in the global coffee market and is expected to exhibit high growth during the timeframe of analysis, from 2020 to 2030. Driven by coffee production in countries like India, Vietnam, Thailand, and Indonesia, the Asia Pacific coffee market is estimated to observe high growth in the years to come.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.