Market Size in 2023 | Market Forecast in 2032 | Growth Rate (in %) | Base Year |
---|---|---|---|
USD 14.36 Billion | USD 23.15 Billion | CAGR at X.XX% | 2023 |
According to the report published by Zion Market Research, the global Instant Coffee Market size was valued at USD 14.36 Billion in 2023 and is predicted to reach USD 23.15 Billion by the end of 2032. The market is expected to grow with a CAGR of 5.45% during the forecast period. The report analyzes the global Instant Coffee Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Instant Coffee Market industry.
Instant coffee is a coffee powder or soluble coffee that is prepared from grounded or roasted coffee beans. Even though fresh coffee influences the global coffee industry, instant coffee is however successfully obtaining importance all around the world owing to its simple and faster way of making it. It is been used for several years. The popularity of instant coffee nowadays has resulted in a shift from traditional coffee to instant coffee. Owing to the rising acceptance of instant coffee, the “instant” trend is also seen in the tea-drinking segment.
Several factors driving the global instant coffee market growth include the convenience provided by instant coffee as compared to fresh coffee, as well as the fast and simple preparation method. All the consumer has to do is—boil the water, add instant coffee, and a stir. Changing lifestyle and growing urbanization are other factors influencing the instant coffee trend and hence consumption of it is particularly noticeable in the youngsters. The new consumers of coffee specifically in the developing markets see instant coffee more attracting. This is owing to numerous benefits it has and it is also capable of satisfying their growing taste buds. Modernization is another important factor that aids in maintaining the growing instant coffee demand all around the world.
Manufacturers are taking continuous efforts so as to come up with novel and attractive ideas in order to improve and develop the instant coffee in term of aroma, quality, and flavor. All this is to ensure the taste if instant coffee is similar to that of freshly brewed coffee. At present, single-service systems are developed that are highly suitable for carrying and consuming; thus, this has resulted in high growth in both the segments—out-of-home and at-home. Such innovations arrange are other factors boosting the global instant coffee market growth all around the world.
The global instant coffee market is segmented on the basis of distribution channel and packaging type.
Based on distribution channel, The global instant coffee market is segmented as B2B and retail. The B2B segment is further sub-segmented as restaurants and hotels, and others. On the other hand, the retail segmented is further sub-classified as online and offline.The offline sub-segments is further bifurcated as hyper and supermarket, departmental stores, and others.
The packaging type segmented is classified as sachets and jars.
Report Attributes | Report Details |
---|---|
Report Name | Instant Coffee Market Research Report |
Market Size in 2023 | USD 14.36 Billion |
Market Forecast in 2032 | USD 23.15 Billion |
Growth Rate | CAGR of 5.45% |
Number of Pages | 201 |
Key Companies Covered | JDE, Nestle, Tata Global Beverages, The Kraft Heinz, Tchibo Coffee, Unilever, Power Root, Starbucks, Vinacafe, Smucker, and Trung Nguyen |
Segments Covered | By Distribution channel, By Packaging type and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Latin America is anticipated to be the dominating market in the near future majorly due to the presence of Brazil. Since Brazil is considered as the largest coffee producer, it aids in the global instant coffee market growth. Additionally, Asia Pacific is also expected to dominate the global instant coffee market with the help of Vietnam since it is the 2nd largest producer of coffee. Furthermore, growing urbanization, increasing population, and influencing western culture are other factors anticipated to boost the growth of the global instant coffee market in the near future.
Some of the major players in the global instant coffee market are:
By Distribution channel
By Packaging type
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