Views: 54 Author: Site Editor Publish Time: 2021-12-20 Origin: Site
The global coffee market is expected to grow at a compound annual rate of 4.22% between 2020 and 2025. Convenient and quick forms of coffee such as coffee pods, coffee capsules and RTD coffee are becoming popular among the public, especially in North America and Western Europe. These forms of coffee can save people more time. But for people who are busy at work, they prefer to buy coffee in a coffee shop. With the increasing awareness of environmental protection, more and more people choose to use their own coffee cups when they buy coffee in coffee shops, such as bamboo fiber coffee cups, organic PLA coffee cups and colorful sugarcane coffee cups. This can reduce the use of disposable coffee cups to protect the environment as much as possible.
The coffee market is driven by many factors. In developed economies, some consumers are expected to switch from instant coffee to more premium coffee for quality and taste. Instant coffee was once considered a high-end product, but today's young consumers have lost interest in instant coffee, which will change the development trend of the coffee market.
Key Market Trends
Surge in Demand For Certified Coffee Products
In the past few years, more and more consumers want to know the source of the food they buy to determine whether their food is healthy, and coffee is no exception. As a result, consumers are more likely to buy certified coffee products. Certified coffee is often a high-quality product, consumers will be more assured when drinking.
Europe Holds a Significant Share in The Market
According to the survey, 68% of respondents said they often drink coffee at work. This trend has led to a huge demand for coffee in European countries such as Germany, Italy, Spain, the United Kingdom and other countries. In addition, technological progress also affects the development trend of coffee industry. Today's young people have a growing appreciation of coffee. About 24.1% of young people aged 18 to 29 want to try different types of coffee and hope that the coffee industry will become more diversified. This has also affected some coffee related industries, such as coffee cups. In the past, coffee cups were mainly made of plastic, but today people pay more attention to environmental protection, making coffee cups made of more environmentally friendly materials. At present, consumers can easily buy reusable bamboo fiber coffee cups, reusable PLA coffee cups and biodegradable sugarcane coffee cups.
At present, the main participants in the coffee market are Nestle, Starbucks and other companies. Mergers or acquisitions of companies can take advantage of their key strengths, such as intense R&D activities, distribution networks, and new product development, to strengthen the portfolio and capture the untapped market, which is also driving the coffee market.
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