Coffee Concentrates Market
Growth Factors of Coffee Concentrate Market
The coffee concentrate market size was valued at USD 2.54 billion in 2023, and the market is now projected to grow from USD 2.67 billion in 2024 to USD 3.90 billion by 2032, exhibiting a CAGR of 5.54% during the forecast period of 2024-2032.
During the pandemic, retail income surged due to purchasers stockpiling and lockdown fears. This caused a surge in demand for espresso products, which includes liquid soluble espresso, in retail channels like supermarkets, comfort shops, and online retail. However, lockdowns and delivery chain constraints as a result of closed borders significantly impacted the HoReCa channel. The longer shelf existence of liquid soluble espresso additionally contributed to coffee concentrate market growth, as clients desired products with longer shelf life due to government restrictions.
Liquid soluble coffee merchandise are becoming more and more well-known due to their affordability and comfort. New product launches and startups are expanding their presence in worldwide markets, with availability in diverse retail channels. Tim Hortons these days released a brand-new coffee concentrate in four flavors in the U.S. marketplace. The rising cost of residing and inflation are riding purchaser demand for economic meals products, resulting in sizable boom inside the liquid soluble coffee marketplace. This trend is predicted to maintain for the duration of the forecast length.
The market for fast coffee products, including powdered and top roast liquid soluble espresso, is expected to grow because of the developing working populace and women's participation in the workforce. Major players are making an investment in manufacturing and launching new merchandise to fulfill this call for. Onyx Coffee Lab, an Arkansas-primarily based enterprise, launched a shelf-solid coffee extract in August 2023, at the equal time as Finlay, a leading producer of powdered and liquid soluble coffee, delivered a prime investment in its UK facility in May 2021. Generation Z customers are searching for low-cost, quality espresso stories at domestic, as they're uninterested in K-cups taking too long and lack experience with brewing equipment.
Comprehensive Analysis of Coffee Concentrate Market
The global coffee market is segmented into caffeinated and decaffeinated coffees, with the caffeinated segment dominating due to rising caffeine consumption. Liquid soluble coffees, with higher caffeine content, cater to this demand. New decaffeinated products are also being launched to grow the market. Decaffeinated coffee, made from regular Arabica and Robusta beans, has limited availability due to its cold brew method. The market is divided into HoReCa and retail, with supermarkets/hypermarkets having the highest share due to product availability. Online retail has the highest CAGR due to technology advancements and convenience. As markets normalize post-pandemic, manufacturers are expanding their business operations through retail establishments. For example, Wake the Crew, a Singapore-based coffee concentrate startup, plans to expand in the South East Asia region through supermarkets due to increasing retail sales and market penetration.
The Europe region lead the coffee concentrate market share by benefitting a market size of USD 0.89 billion in 2023 due to higher home consumption in countries like the UK, Germany, France, and Italy.
Leading market players are focusing on launching new merchandise and regional enlargement to meet consumer demand. Solo Coffee launched a cold brew pay attention within the UK in November 2020, providing comfort for home-made coffee. Other key players include Starbucks Corporation, Javy Coffee, J.M. Smucker, Blue Bottle, Kohana Coffee, Nestle S.A., Celsius and Sons, Monin, GradYs Cold Brew, and Wandering Bear Coffee.
Monin launched seasonal coffee concentrate products in June 2023, including maple pumpkin cold brew, to expand its product portfolio and meet growing demand.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 5.54% from 2023-2030
Unit Value (USD billion)
Segmentation By Type
Caffeinated
Decaffeinated
By Distribution Channel
HoReCa
Retail
- Supermarket/Hypermarkets
- Specialty Stores
- Convenience Store
- Online Retail
By Geography
North America (By Type, Distribution Channel, and Country)
- U.S. (By Distribution Channel)
- Canada (By Distribution Channel)
- Mexico (By Distribution Channel)
Europe (By Type, Distribution Channel, and Country)
- Germany (By Distribution Channel)
- France (By Distribution Channel)
- Italy (By Distribution Channel)
- Spain (By Distribution Channel)
- U.K. (By Distribution Channel)
- Russia (By Distribution Channel)
- Rest of Europe (By Distribution Channel)
Asia Pacific (By Type, Distribution Channel, and Country)
- China (By Distribution Channel)
- India (By Distribution Channel)
- Japan (By Distribution Channel)
- Australia (By Distribution Channel)
- Rest of Asia Pacific (By Distribution Channel)
South America (By Type, Distribution Channel, and Country)
- Brazil (By Distribution Channel)
- Argentina (By Distribution Channel)
- Rest of South America (By Distribution Channel)
Middle East & Africa (By Type, Distribution Channel, and Country)
- South Africa (By Distribution Channel)
- Saudi Arabia (By Distribution Channel)
- Rest of the Middle East & Africa (By Distribution Channel)
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