Pune India, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Specialty Coffee Market Size By Grade (80-84.99, 85-89.99 and 100), By Application (Home and Commercial), Regions, Segmentation, and forecast till 2030.
The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the specialty coffee market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the specialty coffee market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as grade, application, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global specialty coffee market are Strauss, Caribou Coffee, Caffe Nero, Gevelia, Coffee Beane Peet’s Coffee, Tea and Global Baristas US, Starbucks, Don Fransisco’s Coffee, Keurig Green Mountain, Whitebread, Eight O’Clock Coffee, McDonald’s, Blue Bottle among others. To achieve a substantial market share in the worldwide specialty coffee market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Coffees that are classified as specialty grade are handcrafted, high-quality, and have been grown and processed with care. Generally, specialty beans are grown or processed in specific regions or countries, and they must meet certain standards in order to be classified as specialty grade. Beans are graded according to a number of parameters, including size, shape, colour, and acidity. During the forecast period, coffee demand is expected to increase due to its growing popularity and accessibility. As an example, coffee pods have been increasingly popular in the US, due to the ease and convenience of making coffee at home. As a result, coffee has become increasingly popular. There are some factors which are responsible for the slow growth of the market such as the high cost of products and product adulteration. The fluctuating prices of coffee beans are going to impede the specialty coffee shops market growth during the forecast period. In addition to disparity between demand and supply for coffee beans, decreased production, etc., there is also volatility in coffee bean prices due to various factors. In addition to increasing the cost and reducing manufacturers' profit margins, the growing disparity in supply of coffee beans and the increase in raw material prices have increased the price. Moreover, there is an estimated rise in the demand for specialty coffee among a number of different consumers around the globe, so the market is expected to continue to grow for a long time to come. Furthermore, there is a rapid increase in urbanization and disposable income worldwide, which is going to further propel the market in the future.
Scope of Specialty Coffee Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Grade, Application, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Strauss, Caribou Coffee, Caffe Nero, Gevelia, Coffee Beane Peet’s Coffee, Tea and Global Baristas US, Starbucks, Don Fransisco’s Coffee, Keurig Green Mountain, Whitebread, Eight O’Clock Coffee, McDonald’s, Blue Bottle among others |
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Segmentation Analysis
85-89.99 is expected to be the fastest-growing segment in 2022.
The grade segment includes 80-84.99, 85-89.99 and 100. The 85-89.99 segment is expected to witness the highest growth rate during the forecast period. As of 2021, the 85-89.99 grade segment accounted for 39.12% of the market share and revenue. Additionally, the coffee can be divided into Robusta, Brazilian, or mild, and most institutional roasters use Coffea Canephora as their specialty coffee. In addition, the Brazilian term refers to a lesser quality of coffee grown on vast expanses of land at lower heights and harvested in large quantities.
The commercial is expected to be the fastest-growing segment in 2022.
The application segment includes home and commercial. The commercial segment is expected to witness the highest growth rate during the forecasted period. A high level of innovation and rapid technological advancement drive the commercial application segment, and the substantial growth of the commercial sector has also benefited coffee machine manufacturers, particularly in developing countries. Additionally, with the growing number of office spaces among kitchenettes and the emergence of food service enterprises as an important end-user, progressive coffee machines may see higher sales in the years to come.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the specialty coffee market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. Coffee shops offer customers the option to customize beverages or coffee based on their preferences. Additionally, vendors are coming up with food bowls that allow customers to choose to eat one food ingredient at a time or a meal with all of the ingredients together. A hectic lifestyle is also contributing to the growth of the market in the region among the working population and students.
Country Analysis
- Germany
Germany's specialty coffee market size was valued at USD 1.62 billion in 2022 and is expected to reach USD 4.2 billion by 2030, at a CAGR of 12.7% from 2023 to 2030. Market growth can be attributed to the country's growing coffee store culture and organic coffee pods. During the forecast period, the market will likely grow due to increasing e-commerce retail sales and increasing demand for specialty coffee.
- China
China’s specialty coffee market size was valued at USD 1.17 billion in 2022 and is expected to reach USD 3.02 billion by 2030, at a CAGR of 12.6% from 2023 to 2030. Increasing interest in high-quality Robusta coffees has contributed to the country's growth. Also expected to boost the country's specialty coffee market is the increasing number of mainstream coffee players, higher income levels, and advanced coffee culture.
- India
India's specialty coffee market size was valued at USD 0.9 billion in 2022 and is expected to reach USD 2.30 billion by 2030, at a CAGR of 12.5% from 2023 to 2030. A growing per capita income and changing lifestyles are expected to drive the country's market to grow rapidly during the forecast period. Moreover, rising health awareness will result in an increase in demand for ready-to-drink beverages like coffee capsules and instant coffee. A number of leading companies, including Unilever and Tata Global Beverages, will also contribute to the market's growth.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rapid urbanization.
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