Market Size of Coffee Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 132.13 Billion |
| Market Size (2029) | USD 166.39 Billion |
| CAGR (2024 - 2029) | 4.72 % |
| Fastest Growing Market | South America |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Coffee Market Analysis
The Coffee Market size is estimated at USD 132.13 billion in 2024, and is expected to reach USD 166.39 billion by 2029, growing at a CAGR of 4.72% during the forecast period (2024-2029).
- The coffee market is rising due to the growing culture of consuming coffee as a refreshing drink among the younger population, especially in India, Italy, the United States, China, Japan, and the Philippines. In addition, the increasing disposable income coupled with urbanization is the primary factor contributing to the growth of the coffee market. On the other hand, the various health benefits of consuming coffee, such as reducing the risk of diabetes, burning fat, and consuming high energy from caffeine spikes, are also driving the market growth.
- Consumers are shifting towards more organic or plant-based coffee to maintain a healthy lifestyle. Hence, key players are engaged in product innovations to maintain a stronger foothold in the market. For instance, in 2021, Nestle Japan launched a range of Nescafé lattes, including coffee capsules crafted with plant-based ingredients, to meet consumers rapidly growing interest in plant-based food. In addition, another significant factor driving the market growth is busy lifestyles, leading to coffee chains becoming more popular among customers who enjoy their coffee on the go.
- Consumers demand premium products that emphasize quality. Therefore, they are attracted to top-notch coffee houses that offer the best coffee quality, which is a significant factor for repeated visits. Technology innovations, safety measures, and machine-based food processing units are projected to play an essential role in the demand for coffee over the coming years.
