Global Specialty Coffee Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Factors such as increasing specialty coffee consumption and rising number of specialty coffee shops are some of the major factors driving the growth of Global Specialty Coffee Market.
Global Specialty Coffee Market is valued at USD 30.74 Billion in 2020 and expected to reach USD 50.01 Billion by 2027 with a CAGR of 7.2% over the forecast period.
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Scope of Global Specialty Coffee Market Report-
Specialty coffee refers to the highest quality coffee available, usually involving the entire supply chain and using single origin or single estate coffee. On the 100-point Coffee Review scale, specialty coffee is described as coffee that receives 80 or more points. Coffee of outstanding quality both farmed and brewed to a substantially higher level than the norm is specialty coffee. Erna Knutsen coined the term in an issue of Tea & Coffee Trade Journal in 1974. Specialty coffee is high in antioxidants and nutrients that will help the consumer to live a healthier life. Price, suitability and proper brewing techniques are some of the positive factors favors the demand of specialty coffee. This Coffee has variety of benefits such as improves the energy levels, helps to burn fat, improves physical performance, fights the depression and good source of antioxidants. It is used for its energizing and healing property. It is also being used as a soft drink alternative, along with other energy drinks. Developing new formulations with increased palatability, innovative formulations, increased storage and shelf life and others are reinforcing the worldwide market for specialty coffee.
During Covid-19 pandemic, the careful steps taken by governments of different nations have led the temporary suspension of organizations and reduce the production of specialty coffee and also closed the specialty coffee shops which have shown some decline impact on the market growth. However, the rising number of individuals staying at home and working from home has increased workload and anxiety which can be reduced by stimulating health drinks like coffee. Also remote working, home learning and home cooking have also increased the demand of specialty coffee.
Global specialty coffee market is segmented on the basis of grades, applications and region & country level. Based upon grades, specialty coffee market is classified into 80-84.99, 85-89.99 and 90-100. Based on application, the global specialty coffee market is classified into home and commercial specialty coffee.
The regions covered in this Global Specialty Coffee Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of specialty coffee is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Key Players for Global Specialty Coffee Market Report-
Some major key players for global specialty coffee market report cover prominent players like Starbucks, Dunkin’ Brands Group, Whitbread, McDonald’s, Coffee Beane Peet’s Coffee, Barista, Restaurant Brands International, Coffee Day Enterprises, Caribou Coffee, Tea and Global Baristas US, Don Fransisco’s Coffee, Keurig Green Mountain, Eight O’Clock Coffee, Caffe Nero, Blue Bottle, The Coffee Bean and Tea Leaf. Lavazza, M. Smucker, Costa, Jammin Java Group, Bulletproof, Gevelia, Strauss, Stumptown and others.
Tata Coffee Launched an e-Commerce Website to Promote India’s Best Single Origin Reserve Coffees.
Feb 28th, 2020; Tata Coffee Limited, a subsidiary of Tata Consumer Products Limited, launched www.coffeesonnets.com, an e-commerce site. The website launches with three exclusive single origin specialty coffee variants dubbed “The Sonnets- Voice of our Estates.” These reserve single origin handpicked coffees are all from the same estate and are not blended. Since they are produced in specific regions and processed in unusual ways, they are truly unique and limited-edition coffees. In a cup, the Sonnets offer a once-in-a-lifetime sensory experience. The e-commerce site www.coffeesonnets.com is built to make purchasing these high-end coffees as easy as possible for consumers. Customers are introduced to Tata Coffee and its 100-year history on the homepage, which also includes detailed product details, links to recent blog posts, stories from the farms, and other related information for online purchases.
Increasing Specialty Coffee Consumption and Rising Number of Specialty Coffee Shops are Some of the Major Factors Driving the Market Growth
The major factors driving the growth of global specialty coffee market are increasing specialty coffee consumption in recent years. The reasons for the 10% rise in consumption are primarily increased coffee consumption rates, growing popularity of specialty coffee among consumers, recent international expansion of specialty coffee shops and a shift in customer lifestyle with increased urbanization. For instance; according to African Journal of Hospitability Tourism and Leisure, Coffee consumption has doubled in the last 40 years, from 4.2 million tons in 1975 to 8.7 million tons in 2015. In the United States, specialty coffee consumption has risen from 13% to 36%. Consumers drink two to three cups of coffee every day, with 29 percent of participants drinking three cups per day and 65 percent of workers employed in various industries drinking two to three cups per day. Hence, increased consumption of specialty coffee is one of the major factors driving the market growth. In addition, the rising number of specialty coffee shops is also supplementing the market growth. For instance; according to African Journal of Hospitability and Leisure, Specialty coffee shops were favored by the majority of participants (81.3%) over coffee chains. The majority of customers in this study favored specialty coffee shops, with 62 percent preferring specialty coffee and drinking at least two or three cups a week, with a weekly visit to a specialty coffee shop.
However, unsuitable weather condition affecting the coffee grades and variability in prices throughout the market may hamper the market growth of specialty coffee. In spite of that, increasing development of innovative and less costly specialty coffee grades can offer more opportunities for the further growth of the global specialty coffee market.
Europe is Expected to witness a Significant Growth in the Global Specialty Coffee Market
The global specialty coffee market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. Europe is expected to show a significant growth in the global specialty coffee market within the forecast period owing to the increased numbers of specialty coffee shops, availability of raw materials, increased consumption and demand of specialty coffee in this region. For instance; according to Journal of Niche market of Coffee; Over 1,500 roasters operate in the Italian market. Many of these, especially in the strong espresso segment, purchase ready-to-roast green coffee blends from specialty importers.
North America is also expected to witness a high growth in global specialty coffee market owing to the high consumption of coffee in this region. For instance; according to International coffee organization; specialty coffee shops are businesses that depend on the selling of coffee, coffee drinks, and coffee accessories for at least 55 percent of their overall sales. In 2014, the United States imported about 27.5 million bags of coffee, accounting for about a quarter of all unroasted coffee imports, making it the world’s largest single buyer. Consumers in the United States claim that 48% of coffee cups are specialty.
Key Benefits for Global Specialty Coffee Market Report–
- Global Specialty Coffee Market report covers in-depth historical and forecast analysis.
- Global Specialty Coffee Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
- Global Specialty Coffee Market report helps to identify opportunities in marketplace.
- Global Specialty Coffee Market report covers extensive analysis of emerging trends and competitive landscape.
By Regional & Country Analysis: (North America, U.S., Canada, Europe, U.K., France, Germany, Italy,Asia Pacific, China, Japan, India, Southeast Asia, Latin America, Brazil, Mexico, Middle East and Africa, GCC, Africa, Rest of Middle East and Africa)
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