United States, Rockville MD, July 19, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, worldwide sales of coffee substitutes are projected to increase at a CAGR of 4.2% from 2022 to 2032.
The market for coffee substitutes is growing as a result of the rising trend of veganism among a large section of the world population. The market for coffee alternatives is projected to see decent growth prospects due to expanding product development in the food alternatives or substitutes arena.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by growing demand for green tea, rising interest in organic tea among retailers, and possible health implications of caffeine.
The coffee substitute market analysis includes the distribution channel segment and geographic landscape.
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Key Takeways from Market Study:
- The global coffee substitutes market is estimated at US$ 13.06 billion in 2022
- The global coffee substitutes market revenue expanding at a CAGR of 4.2% over the 2022-2032 assessment period.
- Sales of coffee substitutes are projected to increase at a CAGR of 4.2% from 2022 to 2032.
- Europe leads with 27.1% share in the global coffee substitutes market.
- Rapid urbanization, lifestyle changes, increasing sales of organic coffee substitutes, and rising innovation in packaging solutions are driving market growth in North America.
The global coffee substitute market is segmented into nature, packaging, distribution channel, and region. By nature, the market is divided into organic and conventional. Depending on packaging, it is categorized into poches, cans, and aseptic cartons. As per distribution channel, it is segregated into online & hypermarket/supermarket, convenience stores, and department stores. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Caffeine Substitute Market Scope and Market Size
Caffeine substitute market is segmented on the basis of nature, packaging and distribution channel. The growth among various segments helps in the better analyzation of growth and strategies for better vision of market.
- On the basis of nature, caffeine substitute market is segmented into organic and conventional.
- Based on packaging, caffeine substitute market is segmented into pouches, cans and aseptic cartons.
The caffeine substitute market is also segmented on the basis of distribution channel into online, hypermarket/supermarket, convenience stores and department stores.
Based on distribution channel, the coffee substitutes market is segmented into online stores, supermarkets, convenience stores, and department stores. Sales of coffee substitutes through online stores are expected to rise at the highest CAGR over the coming years.
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Competitive Landscape
Leading companies operating in the coffee substitutes market are changing their retail strategy and focusing on online stores, which are likely to be major sales channels soon. Coffee substitute providers are adopting strategies to spread awareness about the adverse effects of coffee, and the health benefits of coffee substitutes to boost sales.
For instance :
- Teeccino and Ayurvedic Roast Company are using natural and organic ingredients with no artificial additives. Also, by including gluten-free and vegan ingredients, these manufacturers are targeting a larger global audience. Ayurvedic Roast Company makes use of Ayurvedic herbs such as Brahmi, Shatavari, and Ashwagandha while manufacturing coffee substitutes.
Using herbal ingredients can add a wide range of health benefits to coffee substitutes, which can help market players augment their global sales.
Key Segments Covered in Coffee Substitutes Industry Research
- Coffee Substitutes Market by Nature :
- Organic Coffee Substitutes
- Conventional Coffee Substitutes
- Coffee Substitutes Market by Packaging :
- Pouches
- Cans
- Aseptic Cartons
- Coffee Substitutes Market by Distribution Channel :
- Online Stores
- Supermarkets
- Convenience Stores
- Department Stores
- Coffee Substitutes Market by Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Benefits For Stakeholders
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the coffee substitute market from 2019 to 2026 to identify the prevailing market opportunities.
- The key countries in all the major regions are mapped based on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes the analysis of the regional & global market, key players, market segments, application areas, and growth strategies.
Fact.MR’s Domain Knowledge in Food & Beverage Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned food and beverage team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the food and beverage domain across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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