Market Size of Coffee Trade Analysis
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 2.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
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Coffee Trade Analysis Market Analysis
The coffee trade analysis market is projected to register a CAGR of 2.5% during the forecast period.
- Coffee is produced in more than 50 developing countries in South America, Africa, and Asia and is an essential source of income for more than 20-25 million families worldwide. The initial production of coffee beans is highly labor intensive. It involves several labor-intensive activities, such as farming, collecting, and processing. Hence, these activities are performed in labor-abundant countries.
- According to the United States Department of Agriculture (USDA), world coffee production for 2022-23 is forecast to rebound 6.6 million bags from the previous year to 172.8 million, primarily due to Brazil's Arabica crop entering the on-year of the biennial production cycle. Global consumption is expected to rise by 800,000 bags to 167.9 million, with the largest gains in the European Union, the United States, and Brazil. World coffee bean exports are forecasted to be 3.0 million bags lower than 116.1 million as losses in Brazil, Vietnam, and India are more than offset gains in Honduras and Colombia in 2023. Ending stocks expected 1.5 million bags higher to 34.1 million. Against this backdrop of an improving supply situation, coffee prices, as measured by the International Coffee Organization (ICO) monthly composite price index, declined by 25% since February 2022.
- Additionally, the coffee industry witnesses various issues from farms to markets, like poor labor practices combined with unfair wages, deforestation, air pollution from roasting plants, and irregular pricing of coffee. According to a survey conducted by the Institute for Scientific Information on Coffee (ISIC) in 2020, 68% of the respondents stated that they often consume coffee while working. This trend is leading to a huge demand for coffee in European countries like Germany, Italy, Spain, the United Kingdom, and others, as consumers are becoming increasingly conscious of the quality of their coffee.
