Dublin, July 10, 2023 (GLOBE NEWSWIRE) -- ResearchAndMarkets.com adds "Out-Of-Home Coffee Market - Growth, Trends, and Forecasts (2023-2028)" market report to its offering.
The global out-of-home coffee market is poised to grow at a CAGR of 3.92% in the forecasted years, driven by increasing coffee consumption patterns worldwide.
According to the National Coffee Association (NCAUSA), the consumption of coffee among the 18-24 age group has seen an increase, with approximately 66% of adults in the United States above 18 years consuming coffee frequently, and 28% of coffee drinkers opting for out-of-home coffee as of January 2022.
The preference for ready-to-drink coffee places as socializing venues has also contributed to the market growth, with consumers seeking the taste and ambiance of retail establishments. Traditional coffee and specialty coffee such as lattes, espresso, and cappuccino remain popular among consumers, and flavored coffee is gaining importance for its taste. Manufacturers are expanding their geographical presence to cater to the growing demand for out-of-home coffee, exemplified by Starbucks corporation's expansion of its retail establishment network from 32,660 outlets in 2020 to 33,833 outlets by the end of 2021.
The COVID-19 pandemic resulted in the temporary closure of pubs, cafes, and restaurants globally, significantly impacting the out-of-home coffee market. However, with a return to normalcy, there has been a rise in consumer adoption of out-of-home coffee. During the lockdown, consumers turned to online delivery channels for coffee purchases, increasing the consumption of at-home coffee and ready-to-drink coffee.
Key Trends in the Out-of-Home Coffee Market
The increasing number of working-age populations is driving the presence of coffee houses. Premium stores from companies like Coffee Day Enterprises Ltd, Starbucks Corporation, and Barista Coffee Co. Ltd have contributed to the market's growth, creating an attractive and relaxing ambiance for customers. Changing work patterns, including the demand for free Wi-Fi and entertainment zones, have further boosted the demand for coffee shops and cafes, particularly in the Asia-Pacific region. The European region, known for its coffee-drinking culture, has seen significant growth in cafes and bars, especially among urban residents.
Europe dominates the global out-of-home coffee market in terms of coffee consumption away from home. Countries like Germany, Italy, Spain, and the United Kingdom have witnessed a substantial demand for coffee, with consumers placing importance on coffee quality. Single-origin coffee and specialty coffees such as flavored, lattes, and cappuccino are popular among European consumers. The region has experienced the emergence of specialty coffee shops, offering innovative and customized blends, catering to the preferences of coffee enthusiasts.
Competitor Analysis in the Out-of-Home Coffee Market
The out-of-home coffee market is highly competitive, with key players including Nestle, JM Smucker Company, JAB Holding Company, Kraft Heinz Company, and Starbucks leading the market. The growing demand for gourmet coffee, driven by the expansion of specialty coffee chains, has prompted major coffee companies to tap into this segment and expand their product offerings. Private-label brands like Tchibo GmbH are focusing on increasing their market share through global and domestic sales, employing innovative strategies to engage consumers and maintain their competitive position.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Category
5.1.1 Regular Coffee
5.1.2 Gourmet/Specialty Coffee
5.2 Geography
6 COMPETITIVE LANDSCAPE
6.1 Strategies adopted by the leading players
6.2 Market Share Analysis
6.3 Company Profiles
- The Kraft Heinz Company
- Nestle S.A.
- Starbucks Corporation
- The J.M. Smucker Company
- JAB Holding Company
- Luigi Lavazza S.p.A.
- Tchibo GmbH
- Baronet Coffee Inc
- Gruppo illy Spa
- Blue Tokai Coffee Roasters
For more information about this report visit https://www.researchandmarkets.com/r/gbex7z
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Attachments
- Out Home Coffee Market Out Of Home Coffee Market Market Size By Geography Global 2021
- Out Home Coffee Market Out Of Home Coffee Market Consumer Expenditure On Restaurants And Cafes In G B P Million Unite
