Global Instant Coffee Market: Snapshot
Instant coffee is gaining popularity among consumers from past few years. Thanks to the convenience of making coffee from instant coffee is boosting its demand globally. This demand is reflecting positively on the global instant coffee market. Additionally, the easy availability of instant coffee through the various sales channels is contributing in the growth of the market globally.
Furthermore, instant coffee is gaining popularity amongst the common people among urbanized cities and economically growing countries. Growing disposable income of the people is enhancing their capability of spending on preferred instant beverages, which is propelling growth of the global instant coffee market.
Additionally, ever evolving lifestyle and growing consumption patterns globally is driving the growth of the instant coffee market. Easy preparation of instant coffee wide variety of flavors is driving the growth of global instant coffee market. Moreover, higher shelf life of instant coffee owing to powdered texture is propelling growth of the global instant coffee market. Most of the popular instant coffee brands are focusing on the advertisements, which results to boost the global instant coffee market.
TMR estimates, the instant coffee market stood at the value US$28.12 bn in 2016 and is expected to attain value of US$42.5 bn by the end of 2025. The market is expected to expand with a CAGR of 4.80% from 2017 to 2025. This growth is attributable to the growing awareness about the effects of aerated drinks, which is encouraging adoption of the instant coffee.
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Based on the distribution channel, the instant coffee market is segmented in to B2B and retail stores. Based on the B2B sales, the market is further segmented into such as hotels, restaurants while retail stores market is segmented in to online, and offline. Of these, retail stores segment dominated the global instant coffee market in 2016. Owing to the availability of a range of instant coffee and attractive offers and discounts, the market is witnessing significant growth over the forthcoming years.
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In terms of geography, the global instant coffee market is segmented into North America, Latin America, Europe, Japan, the Middle East and Africa, and Asia Pacific excluding Japan. Of these, Asia Pacific dominated the global instant coffee market in the year 2016 by accounting 35.7% share in the overall market. This growth is attributable to the rising number of instant coffee consumers across the developing regions of Asia Pacific such as India and China. However, the consumption of tea in the regions is challenging growth, but easy preparation method of instant coffee is aiding growth of the market extensively.
Europe stood at the second position in terms of the revenue due to high demand from the countries such as Poland, Bulgaria, Russia and Rest of the Europe. This demand from these countries is likely to remain same over the years to come.
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The instant coffee market features consolidative vendor landscape. Some of the leading players in the instant coffee market are Nestlé S.A., Jacobs Douwe Egberts, Starbucks Corp., Tata Global Beverages, and Unilever Plc.