A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global coffee market. Presenting exclusive insights into the market from 2017 to 2022, the report projects that the market will witness notable growth during the forecast period. Coffee is considered to have a revitalizing effect up consumption, owing to its caffeine content. Among one of the highly consumed drinks across the world, the working demography contributes to a significant portion of the market revenue. The growth of the market is mainly attributed to increasing consumption among millennials, growing disposable incomes, and rising demand for the beverage from pick-and-go foodservice outlets. On the back of these factors, the global coffee market is poised to witness substantial growth in the forthcoming years.
Increasing Disposable Incomes Among Millennial Consumers Fosters Sales
Over the years there has been a significant increase in the white-collar demography, which drives the majority of demand for coffee, on the back of hectic working culture and need for relaxation and energy. On this premise, coffee has been finding remarkable traction, backed by its caffeine content that offers energy. According to the International Coffee Organization, the consumption of coffee has been increasing steadily among emerging economies and will continue to remain one of the most popular beverages in consumer diets across the globe. Moreover, the prevailing cafe culture among millennial consumers, coupled with increasing levels of disposable incomes, and improving living standards will also complement the market growth. The penetration of players such as Barista and Starbucks - with emphasis on providing an enriching customer experience - are gaining remunerative opportunities, and will contribute to the overall market growth. Increasing health consciousness among consumers is also propelling the demand for organic coffee. Furthermore, robusta grade coffee is gaining prominence among consumers, backed by its roasted nature and high presence of chlorogenic acid, which help in losing weight.
APEJ Spearheads Growth in Regional Landscape
Asia Pacific excluding Japan (APEJ) is anticipated to metamorphose into a prominent regional market for coffee, on the back of increasing demand for ready to consume coffee among working demography. Furthermore, the rising disposable income in the region is also bolstering the market growth. Along similar lines, Europe is forecasted to exhibit significant growth, owing to the high demand for robusta coffee. Leveraging the demand, market players in the region are scaling up their production.