Global Coffee concentrate Market Outlook
Coffee concentrates are prepared by mixing grounded coffee beans and water. Coffee consumption has become a fundamental food culture in many countries around the world which is increasing the demand of coffee beans and coffee concentrates. Increasing food and beverages industry is growing the demand for more products that is driving the growth of coffee concentrate market. Coffee concentrate is being used in food service and in household as well. Coffee concentrate owing to its application in hot and cold beverages is gaining popularity in all economies. The changing lifestyle of consumers due to the increased per capita income is influencing the consumers to adopt new trends of food and beverages consumption.
High demand of ready to drink product is driving the Global Coffee concentrate Market
Rapidly growing urbanizations is the major factor driving the coffee concentrate market. The increasing demand of ready to eat drink products is expected to increase the demand of coffee concentrates in most of the regions of the world. Changing lifestyle of the consumers owing to the increasing per capita income had changed is also driving the global coffee concentrate market. Easily and instant available products had shifted the consumer focus from traditional coffee to coffee concentrates which in turn grows the demand of product in market. Increasing café and brand outlets in developing economies had largely affected the global coffee concentrate market. The rise in working population demands for more convenient products which can be utilized instantly is helping the coffee concentrate market to grow.
Global Coffee concentrate Market – Segmentation
Based on type, the global coffee concentrate market is segmented as
Based on sales channel, the global coffee concentrate market is segmented as
Based on region the global coffee concentrate market is segmented as
Global Coffee concentrate Market – Key players
Some of the major key player of the global coffee concentrate market are ARTEMIS BREW LTD, Kohana Coffee, Kraft Foods Group , MONIN INCORPORATED , Aspen Beverage Group, New Orleans Coffee Co., Nestlé, The Kroger Co. and others
Global Coffee concentrate Market – opportunity
The surge in the food & beverage industry in mature as well as the emerging market gives ample opportunity to the new participants in the global coffee concentrate market. The coffee concentrate market is expected to witness promising growth owing to the increasing coffee culture in many countries of the developing economies. The product penetration and expanding retail sector in these regions is giving ample opportunity to the manufacturers to show case their products in tier -2 cities. Increasing online sales channels is helping the market players to reach the targeted customers. Rapidly growing urbanization in many regions of the world demands variety in food products which push the demand for the global coffee concentrate market. The coffee concentrate market is expected to witness promising growth in rapidly growing urban population in developing economies such as India and China owing to its high demand and consumer base. Product penetration in emerging markets is also helping the manufacturer of coffee concentrate to grow in these regions.
Impact of COVID -19 on global Coffee concentrate Market
The global pandemic due to coronavirus had changed all the lives of millions. Food consumption and purchasing both the pattern had changed. The Food companies are affected by disappearance of sales from hotels restaurants and cafes sector but the sales are compensated by increased sales of products consumed at home. The closed HORECA sector had largely affected the manufacturers as demand of the coffee concentrate had decreased. As the coronavirus is continuously spreading in coffee growing countries, production and distribution of coffee is disrupted. Owing to this pandemic many countries are planning for indoor farming of with climate control warehouses so the disrupted supply may not affect the manufacturing business in future. COVID-19 pandemic is giving opportunity to the manufacturers to shift their supply chain and opt direct to customers system to reach their consumers. The closed borders and unavailable workers, is challenging the highly organized food sector. The governments’ bodies are also monitoring the production and distribution of essentials goods to their citizens.