Coffee Revenue to Attain USD 365.02 Billion by 2033

24 Oct 2024

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Table of Content

1. Coffee Revenue and Trends 2. Market Overview   3. Report Highlights of the Coffee Market  4. Coffee Market Trends  5. Regional Outlook 6. Coffee Market Coverage 7. Market News 

Coffee Revenue and Trends

The global coffee market revenue surpassed USD 245.2 billion in 2024 and is predicted to attain around USD 365.02 billion by 2033, growing at a CAGR of 4.51% during forecast period. The market is driven by the increasing consumption of coffee as a refreshing drink. Moreover, rising consumers’ disposable income and changing lifestyles further contribute to the market expansion. 

Market Overview  

Coffee consumption among the population, especially youngsters, has increased over the years due to rising awareness about its health benefits. Several studies have demonstrated that coffee helps reduce the risk of diabetes and burn fat. Coffee possesses antioxidant properties, which help improve the functioning of the brain. Consumers increasingly shift toward clean-label production, encouraging market players to expand their product line by adding sustainably sourced and certified coffee products to meet consumers' varying demands.

The rising consumer preferences for coffee-flavored products significantly contribute to market growth. Moreover, the increasing production of coffee beans and the rising demand for specialty coffee are expected to propel the market. Moreover, advanced technologies like artificial intelligence and machine learning further revolutionize the market. Implementing AI in food processing and agricultural practice helps manufacturers boost production by improving crop health, precision agriculture, and optimizing husbandry.

• For instance, in July 2024, The Cerrado Coffee Growers' Cooperative (Expocacer) is launching an industrial production line to classify specialty coffee with a focus on the quality of the beans in small volumes of up to 3600 KG per hour. The technology used throughout the coffee chain helps improve the quality of coffee beans. This automated system has AI sensors that control the maintenance and help boost yields and better select and classify the beans.  

Report Highlights of the Coffee Market 

• Based on product, the roasted segment dominated the market in 2023 due to the superior quality and long shelf life of roasted coffee beans. Freshly harvested coffee beans are roasted and heated to bring out the flavor and aroma that is most likely consumed at homes and cafes. Lightly roasted coffee beans have gained immense popularity as they are known for their lively acidity and subtle tastes. The rising consumption of black coffee further bolstered the segment. 
• On the basis of nature, the conventional segment led the coffee market in 2023. This is mainly due to the lower cost of conventionally grown coffee beans compared to organic ones. These coffee beans are grown using fertilizers and pesticides, resulting in a high yield. On the other hand, the organic segment is anticipated to grow rapidly during the forecast period. Due to the rising health awareness among consumers, there is a rapid shift toward organic products, boosting the demand for organically grown coffee beans.  
• Based on distribution channel, the B2B segment dominated the global market in 2023. The B2B business model helps to improve sales, reach a wider audience, and enhance brand recognition. It is widely used by cafes, hotels, and restaurants.

Coffee Market Trends 

• Increasing coffee consumption: The rising urbanization and the changing lifestyle of consumers lead to high consumption of coffee in their daily routines, as it helps them with several health benefits like improving brain functioning, which makes them a better option for busy schedules. The rising demand for on-the-go drinks, along with the various coffee-flavored products, is expected to drive the market.
• Emerging new cafes: The rising preferences for outings encourage consumers to explore new supply chains like Starbucks, Costa Coffee, and many others, contributing to the growth of the coffee market. Also, independent cafes experienced large footfall as they offer beverages like cold coffee and others. 
• Rise of e-commerce: Rapid expansion of e-commerce platforms boosts the market. These platforms allow companies to sell coffee to consumers directly. Moreover, they allow businesses to reach a wider consumer base. These platforms also made it possible for consumers to obtain coffee easily. 

Regional Outlook

Europe dominated the coffee market in 2023 due to the growing coffee culture. Europe is the largest consumer of coffee. According to a report, Finland, followed by Sweden and Norway, holds the title of the highest per capita coffee consumption worldwide, with an average per capita consumption of close to four cups per day. Moreover, the increasing demand for high-quality and organic coffee beans contributes to regional market expansion.

Coffee Market Coverage

Market News 

• In October 2024, TATA Consumer Products launched its Tata Coffee Grand Cold Coffee, which offers consumers a rich, creamy, cold coffee experience in its three inspired flavors namely: Swiss caramel, French vanilla, and Belgian chocolate. 
• In August 2024, Badra Coffee launched its four unique blends in the retail market that are pure coffee varieties with specific flavor requirements and tailor the coffees to meet the consumer's requirements.  

Market Segmentaion

By Product 

• Roasted
  • Roast and Ground
  • Pods and Capsules
  • Whole Beans
• Instant
• Ready to Drink

By Nature

• Conventional
• Organic

By Distribution Channel

• B2B
  • Cafes
  • Hotels and Restaurants
  • Offices
  • Bakeries and Coffee Shops
  • Others
• B2C
  • Grocery Stores/Supermarkets
  • Hypermarkets
  • Convenience Stores
  • Online Retailers
  • Online Direct-To-Consumer (DTC)
  • Others

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