Dublin, June 24, 2024 (GLOBE NEWSWIRE) -- The "Coffee Bean Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global coffee bean market size is expected to grow at a CAGR of 4.31% to reach US$35.148 billion by 2029, from US$26.159 billion in 2022.
The market is likely to grow owing to several developments by major coffee houses that utilize these coffee beans and the growing consumption and production of coffee. According to the ICO (International Coffee Organisation), the exports of arabica coffee grew by 1.4% in June 2022 compared to June 2021.
Adding to that, the increasing trend of coffee consumption holds lucrative opportunities for many coffee companies that are a consumer of the coffee beans market. Millennials, who are readily adopting a busy lifestyle, are interested in consuming convenience food and beverages such as ready-to-drink coffee, including pre-made coffee, which is easy to carry along. With the growing trend, it is also easier to find coffee machines in gas stations, in addition to ready-to-drink coffee product variants in convenience stores for customers on the move.
Coffee Bean Market Drivers:
Growing consumption of coffee among millennials is expected to influence coffee bean market growth.
The increasing trend of coffee consumption among the younger generation is projected to surge the market demand with the rise in disposable income in the developing regions of the world and the high disposable income of the citizens of the developed regions. This has further boosted the demand for coffee, and evolving coffee-drinking customers force the coffee makers to bring out innovations in coffee products, resulting in a variety of coffee drinks ranging from iced beverages to coffee shakes and classic coffee options. Further, growing consumption by people is expected to drive the demand for these coffee beans by cafes and instant coffee makers, which is expected to boost the market.
The shift towards speciality coffee is predicted to positively impact coffee bean market growth.
The coffee beans market is expected to increase at a steady rate due to the trend towards speciality coffee. Speciality coffee has been gaining appeal among customers worldwide due to its distinctive flavour profiles, superior quality, and unusual origins. The increasing demand for speciality coffee is a reflection of changing consumer tastes for more individualized and superior coffee experiences.
Customers are ready to spend more for speciality and single-origin coffees that offer better flavour and quality as they grow pickier about their coffee selections. Producers, importers, and retailers of coffee have a chance to set themselves apart from the competition and gain market share due to this trend.
Furthermore, the focus on speciality coffee supports larger trends in ethical sourcing and sustainability, which propels market expansion. Overall, the move to specialty coffee is anticipated to stimulate consumer participation, foster innovation, and help grow the coffee beans market during the forecast period.
Coffee Bean Market Restraints:
Climate change is putting pressure on the coffee bean industry by causing unpredictable weather patterns and lower yields in planting. Market volatility is impaired by economic variables such as fluctuating currency exchange rates and unstable geopolitical conditions.
Furthermore, growth is hampered by structural problems like supply chain transparency and insufficient funding for small-scale farmers. As a result of these issues, all parties involved in the coffee value chain are under strain. Creative thinking and teamwork are crucial for long-term sustainability. For the coffee business to have stable growth, these constraints must be addressed by key players.
The Robusta coffee beans market is expected to surge over the forecast period as it is bitter and is mostly used in instant coffee blends.
Based on type, the coffee beans market is segmented into Robusta and Arabica. The Robusta coffee bean is expected to grow owing to the increasing disposable income among the middle-income population and the high-income population, which is allowing them to spend more on speciality and premium coffee. In addition, the ever-growing popularity of select roasts and specialty cafes among the younger generation population is further contributing to its major share.
Diabetes in developing nations is at its peak; in this regard, the consumption of Robusta coffee beans can imperatively support reducing the risk of type 2 diabetes. Many researchers have found a relationship between low sensitivity to insulin as a result of higher coffee consumption. It has been shown that regular high caffeine consumption can impair insulin sensitivity in people suffering from type 2 diabetes. Thus, with increasing diabetes cases, the demand for coffee beans is expected to grow.
The European region is anticipated to hold a significant share of the market.
Based on geography, the coffee beans market is divided into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. In the European region, the market is poised to grow on account of the rising consumption of coffee coupled with growing trends of speciality cafes in numerous countries. Furthermore, the growing coffee culture in countries such as Ireland, Hungary, and the Czech Republic also bolsters the market growth in the region in the coming years.
North America is another prominent regional market for coffee bean producers owing to the presence of specialty shops coupled with the rising demand across food and beverage manufacturers to make coffee-based products. Further, coffee consumption is changing in the MEA region, especially in urban areas, and with the growing middle-class population, the market is expected to grow significantly during the forecast period.
The market growth in Asia Pacific is majorly being driven by the increasing middle-class population across many countries, the increasing influence of Western culture on lifestyle, and the changing tastes of people.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 230 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $26.16 Billion |
| Forecasted Market Value (USD) by 2029 | $35.15 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
Companies Featured
- Backyard Beans Coffee Company
- Caribou Coffee Company
- Coffee Bean Direct LLC
- International Coffee & Tea, LLC
- La Colombe Coffee Roasters (Chobani)
- Gold Coffee Company
- Farmer Bros. Co.
- illycaffe S.p.A.
- LUIGI LAVAZZA SPA
Coffee Bean Market Segmentation:
By Type
- Arabica
- Robusta
By End-User
- Food and Beverage
- Pharmaceuticals
- Personal Care
By Distribution Channel
- Online
- Offline
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- United Kingdom
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
For more information about this report visit https://www.researchandmarkets.com/r/1c012q
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