Pune, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The functional coffee market size is expected to register a rapid revenue CAGR of 4% over the forecast period. This growth can be attributed to increasing awareness of the benefits of functional coffee, changing lifestyle preferences, increasing popularity of natural and organic products, high preference for convenience food and beverages, and ongoing research and development activities in the food and beverage industry.
Functional coffee products are coffee beverages enhanced with additional ingredients such as vitamins, minerals, adaptogens, collagens, herbs and spices, nootropics, L-theanine, and MCT oil to provide specific health benefits beyond the conventional effects of caffeine. These ingredients along with the rich flavor of coffee provide various advantages such as increased energy, enhanced metabolism, improved focus, better skin, heart health, and immunity.
Functional coffee is available in various forms such as instant coffee, ground coffee, and ready-to-drink beverages, and on online platforms, supermarkets and hypermarkets, specialty stores, coffee shops, and cafes. These coffees are rapidly gaining popularity as more and more people are focused on good health and wellbeing. Other factors such as growing consumer interest in maintaining good health and fitness, rising prevalence of chronic diseases, high focus on building stronger brand recognition and trust, and rising availability of various types of functional coffees across multiple offline and online platforms are expected to drive global market growth going ahead.
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However, high prices of functional coffee compared to conventional coffee, regulatory compliance issues associated with the inclusion of certain functional ingredients, and unwillingness to taste new products are expected to hamper overall market growth during the forecast period.
Key Highlights of the Report:
- Based on ingredients, the antioxidants segment is expected to account for a significant revenue share during the forecast period owing to increasing demand for healthy coffee alternatives, high preference for antioxidants in coffee for neutralizing free radicals, enhancing cellular health, brain and skin health, and presence of anti-inflammation properties.
- Asia Pacific market revenue is expected to expand at a robust CAGR over the forecast period owing to rising number of health-conscious people, growing popularity of functional coffee, cultural significance of coffee in many parts of Asia Pacific, and increasing investments in R&D activities to develop novel flavors, blends and ingredients.
- Baristas Coffee, Co. Inc., Berner Food and Beverage, Cothas Coffee Co., Function Coffee Labs, Heine Brothers Coffee, Ingenuity Beverages LLC, Kitu Life Inc., Nathan Coffee Mart, Nestle SA, Peak State, and Peets Coffee Inc. are some key players in the global market.
- In June 2023, Tata Consumer’s NourishCo announced the expansion of its functional beverages segment with the launch of ready-to-drink Tata Coffee Cold Brew.
- In May 2023, Blender Bites Ltd., a functional frozen food manufacturer, announced the launch of frozen coffee-based beverages.
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Report Coverage:
| Report Details | Outcome |
| Base Year for Estimation | 2022 |
| Historical Data | 2018-2021 |
| Forecast Period | 2023-2032 |
| Segments Covered: | Product, Ingredients, Distribution Channel and Region |
| By Product | Whole Bean Coffee, Ground Coffee, RTD Coffee |
| By Ingredients | Vitamins and Minerals, Herbal Extracts, Antioxidants, Adaptogens, Others |
| By Distribution Channel | Supermarkets and Hypermarkets, Specialty Stores, Online Platforms, Coffee Shops and Cafes, Others |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Country Scope | United States, Canada, Germany, France, UK, Italy, Russia, China, Japan, South Korea, Southeast Asia, India, Mexico, Brazil, Saudi Arabia, UAE, Turkey |
| Qualitative Info |
|
| Key Players | Baristas Coffee, Co. Inc, Berner Food and Beverage, Cothas Coffee Co., Function Coffee Labs, Heine Brothers Coffee, Ingenuity Beverages LLC, Kitu Life Inc., Nathan Coffee Mart, Nestle SA, Peak State, Peets Coffee Inc., Royal Cup Inc., Sklew Biotech Ltd., Starbucks Coffee Company, Strauss Group Ltd., Tata Sons Pvt. Ltd., Vardhman Foods and Beverages |
| Customization Scope | 10 Hours of Free Customization and Expert Consultation |
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Competitive Landscape:
The global Functional Coffee market is extremely competitive, comprising several regional and global level key players. Leading key players are focused on adopting various strategic alliances like mergers and acquisitions, partnerships, joint ventures, collaborations, and product launches to maintain their global position and enhance their product offerings. They are also focused on innovation, and scalability, and are adapting to evolving technology trends and consumer needs.
Some Leading Market Companies Listed in the Report:
- Baristas Coffee, Co. Inc
- Berner Food and Beverage
- Cothas Coffee Co.
- Function Coffee Labs
- Heine Brothers Coffee
- Ingenuity Beverages LLC
- Kitu Life Inc.
- Nathan Coffee Mart
- Nestle SA
- Peak State
- Peets Coffee Inc.
- Royal Cup Inc.
- Sklew Biotech Ltd.
- Starbucks Coffee Company
- Strauss Group Ltd.
- Tata Sons Pvt. Ltd.
- Vardhman Foods and Beverages
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The global functional coffee market has been segmented based on product, ingredients, distribution channel, and region:
By Product:
- Whole Bean Coffee
- Ground Coffee
- RTD Coffee
By Ingredients:
- Vitamins and Minerals
- Herbal Extracts
- Antioxidants
- Adaptogens
- Others
By Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Platforms
- Coffee Shops and Cafes
- Others
By Region:
- North America
- United States
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Nordic Countries
- Asia Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
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