LONDON, Oct. 17,
2022 /PRNewswire/ -- The Specialty Coffee Market
Share was valued at USD 28.44 Billion
in 2021 and is projected to reach USD 71.21
Billion by 2028. It is expected to grow at a CAGR of 14.01%
from 2021 to 2028.
Specialty coffee refers to the highest quality coffee available,
usually involving the entire supply chain and using single origin
or single estate coffee. On the 100-point Coffee Review scale,
specialty coffee is described as coffee that receives 80 or more
points. Coffee of outstanding quality both farmed and brewed to a
substantially higher level than the norm is specialty coffee.
Erna Knutsen coined the term in an
issue of Tea & Coffee Trade Journal in 1974.
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Specialty Coffee Market: Scope
There is a growth which is going to happen in the global
specialty coffee market which is going to happen due to the
increase in the urban population all over the world and the demand
for the price, appropriate brewing needs and suitability along with
the increase in the purchase-ability in many different developing
countries in the market.
Specialty Coffee Market: Competitive Analysis
Some major key players for global specialty coffee market report
cover prominent players like -
- Starbucks
- Dunkin' Brands Group
- Whitbread
- McDonald's
- Coffee Beane Peet's Coffee
- Barista
- Restaurant Brands International
- Coffee Day Enterprises
- Caribou Coffee
- Tea and Global Baristas US
- Don Fransisco's Coffee
- Keurig Green Mountain
- Eight O'Clock Coffee
- Caffe Nero
- Blue Bottle
- The Coffee Bean and Tea Leaf.
Lavazza
- M. Smucker
- Costa
- Jammin Java Group
- Bulletproof
- Gevelia
- Strauss
- Stumptown
- Others
Specialty Coffee Market: Segmentation Analysis
In terms of segmentation, it has been reported that the 85-89.99
grade segment has dominated this market with there being a large
market share in the world. This is a coffee which is called the
Robusta and has grown quite a lot in the last few years. This is a
Brazilian term which is used to describe the way the coffee is
made. This is a coffee which can be developed in a more chocolate,
vanilla, citrus and nutty flavor and be typically smooth and
sweet.
It has also been said that the commercial segment has been
dominating this market with there being a huge market share and a
market revenue too. The segment is going to be developing with the
higher innovations and the accelerated improvements in technology
which are the major factors that are driving the market in the
commercial application segment. Moreover, the substantial growth of
this market has been on account of the machine enterprises
particularly when it comes to the developing countries.
By Grades:
By Applications:
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Specialty Coffee Market: Regional Analysis
Another factor is the emergence of the foodservice enterprise as
a major end user and a surge in the number of the offices among the
kitchenettes which is going to propel the sale in the coming years.
In terms of region, it is going to grow most in Europe and North
America due to the higher disposable incomes in these
countries.
Specialty Coffee Market: Key Drivers
It is estimated that there is a rise in the specialty coffee
among many different customers all over the world and that is going
to expand the demand for the market in the years to come. Further,
there is a rapid level of urbanization and disposable income
increase happening worldwide which is going to further propel the
growth of the market in the coming years.
There are some restraints however going on in the market. Such
restraints include the fluctuation of the price of coffee beans and
there being a lack of supply of this in the unfavorable weather
conditions. Furthermore, there is an expansion in the ability of
the consumers with the increase in popularity of coffee
subscription as a major opportunity for the growth of this
market.
Specialty Coffee Market: Key Trends
For the enhancement of their market position all over the world,
this is market which is now focusing on the adoption of strategies
like the innovation of products, joint ventures, partnerships etc.
There is a growth in the market which is driven by the rise in the
potential of the agriculture tourism and the coffee which is
ready-to-drink as well as specialty coffees which is extremely
special. There are reports to the effect that many customers are
now moving from the traditional coffee blends to the ones which are
now coming into the market.
On Special Requirement Specialty Coffee Market Report is also
available for below region:
North America
Europe
- Germany, France, U.K., Italy, Spain,
Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
- South Korea, Japan, China,
India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin
America
Middle East and Africa
- Saudi Arabia, UAE,
Egypt, South Africa, Rest Of MEA
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