by Coffee is a brewed drink prepared from roasted coffee beans, which is consumed worldwide for its caffeine content, taste and health benefits. It enhances energy levels while imparting antioxidants that help reduce risks of chronic diseases.
The global coffee market is estimated to be valued at US$ 132.99 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising awareness about health benefits of coffee such as reduced risk of type 2 diabetes, Parkinson’s disease and liver diseases has been a key growth driver for the global coffee market. Coffee contains antioxidants that help combat free radicals causing inflammation and cell damage. Increasing health-conscious consumer base globally has fueled the demand for coffee as a health beverage over the recent years. Further, growing café culture especially in urban regions has popularized coffee.
SWOT Analysis
Strength: Coffee has high demand worldwide due to its therapeutic and functional properties. It is easily available in the global market.
Weakness: Changes in climatic conditions can adversely impact coffee cultivation. Increased input costs also negatively impact profits of farmers.
Opportunity: Rising health consciousness is driving the demand for functional beverages like coffee. Emergence of new flavored varieties offers new opportunities.
Threats: Price volatility of raw coffee beans poses major threats. Substitute drinks like tea and energy drinks are steadily gaining popularity.
Key Takeaways
The Global Coffee Market Share is expected to witness high growth. The global coffee market is estimated to be valued at US$ 132.99 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
The global coffee market is dominated by Asia Pacific region. Countries like China, India and Vietnam account for significant share owing to optimum climatic conditions for coffee cultivation and growing consumer base. Europe is the second largest market led by Germany, Italy and France. North America is another major region driven by rising inclination towards specialty coffee in the US and Canada.
Key players related content comprises Key players related content
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 players are focusing on new product launches and acquisition strategies to expand their global footprint.
Note:
Source: Coherent Market Insights, Public sources, Desk research
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