Portland,OR, Oct. 22, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global coffee beans market was pegged at $10.94 billion in 2018 and is projected to reach $15.64 billion by 2024, registering a CAGR of 6.1% from 2019 to 2024. The report also provides a detailed analysis of the top investment pockets, drivers & opportunities, market size & estimations, top winning strategies, competitive landscape, and wavering market trends.
Expansion of the retail market, rapid growth in coffee consumption, and health benefits regarding consumption of coffee have boosted the growth of the global coffee beans market. However, the availability of substitutes such as tea hampers the market. On the contrary, decrease in demand for carbonated drinks is expected to create lucrative opportunities in the near future.
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The global coffee beans market is divided on the basis of product, end use, and geography. Based on the product, the market is segmented into Arabica, Robusta, and others. The Robusta segment is projected to register the fastest CAGR of 7.6% during the forecast period. However, the Arabica segment held the largest share in 2018, contributing nearly three-fifths of the market.
On the basis of end user, the market is categorized into personal care, food, and pharmaceutical. The food segment dominated the market in 2018, accounting for more than two-fifths of the market. However, the pharmaceutical segment is projected to register the fastest CAGR of 6.9 during the study period.
The global coffee beans market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is estimated to manifest the fastest CAGR of 7.6% through 2024. However, the market across Europe in 2018, accounted for more than one-third of the market.
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The global coffee beans market report provides an in-depth analysis of the major market players such as Death Wish Coffee, Kicking Horse Whole Beans, Caribou Coffee, La Colombe Corsica Blend, Illycaff S.p.A., Luigi Lavazza S.P.A., La Colombe Torrefaction, INC., Hawaiian Isles Kona Coffee Company, Ltd., Peets Coffee & Tea, Inc., Coffee Beans International, Inc. These market players have adopted several strategies such as partnerships, collaborations, and new product launch to maintain a foothold in the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.