Health benefits regarding coffee consumption, rapid growth in coffee demand, and expansion of the retail market are expected to propel the coffee beans market.
PORTLAND, OR, UNITED STATES, September 17, 2021 /EINPresswire.com/ — The global coffee beans market was pegged at $10.94 billion in 2018 and is projected to reach $15.64 billion by 2024, registering a CAGR of 6.1% from 2019 to 2024. The report also provides a detailed analysis of the top investment pockets, drivers & opportunities, market size & estimations, top winning strategies, competitive landscape, and wavering market trends.
Expansion of the retail market, rapid growth in coffee consumption, and health benefits regarding consumption of coffee have boosted the growth of the global coffee beans market. However, the availability of substitutes such as tea hampers the market. On the contrary, decrease in demand for carbonated drinks is expected to create lucrative opportunities in the near future.
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The global coffee beans market is divided on the basis of product, end use, and geography. Based on the product, the market is segmented into Arabica, Robusta, and others. The Robusta segment is projected to register the fastest CAGR of 7.6% during the forecast period. However, the Arabica segment held the largest share in 2018, contributing nearly three-fifths of the market.
On the basis of end user, the market is categorized into personal care, food, and pharmaceutical. The food segment dominated the market in 2018, accounting for more than two-fifths of the market. However, the pharmaceutical segment is projected to register the fastest CAGR of 6.9 during the study period.
The global coffee beans market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is estimated to manifest the fastest CAGR of 7.6% through 2024. However, the market across Europe in 2018, accounted for more than one-third of the market.
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The global coffee beans market report provides an in-depth analysis of the major market players such as Death Wish Coffee, Kicking Horse Whole Beans, Caribou Coffee, La Colombe Corsica Blend, Illycaff S.p.A., Luigi Lavazza S.P.A., La Colombe Torrefaction, INC., Hawaiian Isles Kona Coffee Company, Ltd., Peets Coffee & Tea, Inc., Coffee Beans International, Inc. These market players have adopted several strategies such as partnerships, collaborations, and new product launch to maintain a foothold in the market.
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