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I AgreeAnalysis of Coffee Concentrate market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
A coffee concentrate is a liquid form of coffee with a 100% concentration of brewed coffee with a high ratio of soluble solids resulting from a proprietary brewing process. The coffee concentrate is a kind of ready-to-drink beverage that can be consumed directly or by mixing it with milk. Different flavors are available depending on the type of coffee used to prepare the concentrate. Coffee is the world’s second-most valuable traded commodity, which has created varied market opportunities for coffee concentrate manufacturers.
The allure of drinking coffee has become a part of everyday life, or in some cases, an addiction – of today’s growing millennial population. Increasing urbanization and development in mid-sized cities, the expansion of a number of multinational and foreign retail brands, and providing consumers with products at ease are driving the sales of coffee concentrates, iced coffee, cold brew coffee, and many others.
The worldwide coffee concentrate market size valuation is USD 1227.27 Million in 2022. The market is further expected to reach a valuation of USD10,954.36 Million by the end of 2032. Owing to the rising coffee concentrate brands, the coffee concentrate market is anticipated to grow with a CAGR of 24.47% in assessment duration, i.e. 2022-2032.
Report Attributes |
Details |
---|---|
coffee concentrate market size (2022 A) |
USD 1227.27 Million |
Base Year for Estimation |
2022 |
Forecast duration for this research |
2022-2032 |
Forecasted Market value (2032 F) |
USD 10,954.36 Million |
Global Market Growth rate (2022-2032 E) |
CAGR of 24.47% |
Key Companies Profiled |
|
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The major drivers for the coffee concentrate market are the growing ready-to-drink market and the coffee industry. Coffee is one of the most popular beverages in the world. The increasing popularity of ready-to-drink products is increasing the demand for coffee concentrates in the market. The high-paced lifestyles of consumers are shifting the choice of people from traditional coffee to concentrated form. The use of instant coffee in homes and offices is likely to create opportunities for the coffee concentrate market.
Increasing cafés in developing economies have stimulated the global coffee concentrate market scenario. The expansion of the food and beverage sector owing to easily accessible consumable products has led to rising in instant drink options fostering demand for coffee concentrates. The expansion of the food retail sector and the variety of coffee options have given ample scope for coffee concentrate manufacturers to target the millennial population. The rapidly emerging online channels for the distribution of coffee concentrate products.
The allure of drinking coffee has become a part of everyday life, or in some cases, an addiction – of today’s growing millennial population. Increasing urbanization and development in mid-sized cities, the expansion of a number of multinational and foreign retail brands, and providing consumers with products at ease are driving the market for coffee concentrates, iced coffee, cold brew coffee, and many others. In addition, the growing population, the advent of Western culture, and the increasing awareness of coffee-based beverages among people globally are supporting the demand for coffee concentrates in the global market.
The millennial population accounts for the largest group of coffee consumers, especially in North America and the Asia Pacific, and is also driving a shift in coffee consumption out-of-home. In addition, the demand for coffee concentrate is also increasing due to the millennial population’s preference for higher-quality coffee blends, Flavored coffee drinks, and others. Consumers are primarily switching to new coffee drinks from traditional coffee.
The coffee concentrate is an easy-to-use product in comparison to traditional iced coffee, which is in high demand in developed countries. This is creating equal opportunities for the coffee concentrate market. The buzz on out-of-home coffee consumption is driving the coffee concentrate market.
Consumers are incurring higher expenditures on out-of-home food and beverage consumption. Furthermore, the increasing number of hotels, restaurants, cafés, coffee chain outlets, and others is also boosting the demand for coffee concentrates in the food service industry. Consequently, in developing economies, it has been seen that there has been a rapid expansion of branded coffee chain outlets in recent years.
Arabica is considered superior to robusta owing to its smooth texture and sweet taste. The robusta coffee is stark and harsh when compared to Arabica. However, the amount of chromogenic acid is more in robusta coffee, which makes it healthier in terms of effectiveness in lower blood pressure. Another reason for the popularity of Robusta coffee concentrate is its cheap price than Arabica.
Cold brew coffee concentrate is less acidic and bitter in taste. The iced coffee is simply a flavored coffee. Cold brew is widely popular due to its taste and chilling effects. The iced coffee is known to have double the strength that cooled coffee.
Regular coffee holds a major share compared to decaffeinated coffee owing to its benefits, such as improved mental health and metabolism. Regular coffee is preferred for its effectiveness in lower the risk of liver damage. In decaffeinate, the majority of caffeine is removed before roasting. This alternative is likely to grow with the fastest CAGR in the forecast duration due to health impacts and milder taste.
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In North America and Europe, cold brew coffee is gaining popularity as compared to other coffee concentrates. Especially supermarket/hypermarket stores are selling a wide range of cold brew coffee concentrates, attracting customers who spend more on beverages. The sales of coffee concentrate products have witnessed a significant increase in the U.S., U.K., Germany, France, Italy, and other European countries in the recent past.
Nestle has launched four new varieties of coffee concentrates. Furthermore, by launching a new product line of coffee concentrates, the company is also supporting the coffee communities for whom it works towards social, economic, and environmental initiatives.
Companies are adopting the strategy of strategic alliances/partnerships with regional food and beverage brands in the Asia Pacific, North America, and the Middle East, in order to enhance their global footprints in coffee concentrates, and also the primary focus is on the expansion of coffee chain outlets.
In the global coffee market, companies are paying greater emphasis on product differentiation and product innovation, as consumers are shifting from multi-serve to single-serve coffee or single-origin coffee drinks. In terms of product innovation, companies are offering RTD coffee, cold brew coffee concentrates, Flavored coffee drinks, coffee pods, and others.
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The worldwide coffee concentrate market size valuation is USD 1227.27 Million in 2022.
The market is further expected to reach a valuation of USD10,954.36 Million by end of 2032.
Owing to the rising coffee concentrate brands the coffee concentrate market is anticipated to grow with a CAGR of 24.47% in assessment duration i.e. 2022-2032.
Robusta coffee is widely known for health benefits such as lower blood pressure.
The key players in coffee concentrate markets- • PepsiCo • Tata International • Kraft Foods Group Inc. • Synergy Flavors Inc. • Grady’s Cold Brew