Coffee Market Growth Accelerated By Consumers' Preference For Healthier Beverages

 

Coffee Market

Coffee is one of the most popular beverages consumed worldwide due to its health benefits and stimulant properties. It reduces the risk of type 2 diabetes, Parkinson's disease, and stroke. The increasing health-consciousness among consumers has amplified the demand for coffee as a healthier beverage alternative to sugar-sweetened drinks. The global coffee market is estimated to be valued at US$ 153.21 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The consumers' growing preference for healthier beverages is one of the key trends driving the growth of the global coffee market. The health benefits of coffee such as decreased risk of type-2 diabetes, Parkinson's disease, and stroke have raised awareness among consumers. Coffee is considered a healthier beverage alternative as it contains antioxidants with anti-inflammatory properties and less sugar than alternative drinks. Moreover, coffee helps in weight management and offers several other health advantages. Owing to these factors, consumers are shifting from carbonated drinks and sugar-sweetened beverages towards coffee, which is augmenting the market growth.

Segment Analysis
The global coffee market is dominated by roast and ground coffee segment which holds around 50% market share. This is because roast and ground coffee is the most convenient form for consumption as it just needs to be brewed. The packaging and longer shelf-life of roast and ground coffee makes it very suitable for retail distribution and dominant in both residential and commercial sector. Instant coffee is the second most popular segment and is growing at a fast pace due to its ease of preparation.

Key Takeaways
The Global Coffee Market Demand is expected to witness high.

Regional analysis: Europe region currently holds the largest share in global coffee market owing to high coffee consumption in countries like Germany, Italy and France. However, Asia Pacific region is expected to grow at the fastest pace during the forecast period with countries like China, India and Vietnam emerging as lucrative markets for coffee producers and retail chains. Growing middle class population, improving standard of living and preference of coffee over tea are some of the factors driving high demand for coffee in Asia Pacific region.

Key players operating in the Coffee market are Bristol-Myers Squibb Company, Novartis AG, Merck & Co., Inc., Genentech Inc., F. Hoffmann-La Roche AG., Amgen Inc., AstraZeneca, Daiichi Sankyo Company, Limited., AB Sciences., AgonOX, Inc., Eisai Co., Ltd, GlaxoSmithKline, plc., Pfizer, Inc., and Vical, Inc. These key players are focusing on new product launches, collaborations and geographic expansion to increase their market share in the high growth regions.

Get more insights on this topic: https://www.ukwebwire.com/coffee-market-size-and-share-analysis-growth-trends-and-forecasts/

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