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The Global Espresso Coffee Market size is projected to increase by USD 4,559.96 million and the market size is estimated to grow at a CAGR of 5.84% between 2022 and 2027.
The global market is driven by the increasing number of new product launches by companies, which contribute to higher revenue. Notable launches include Nestle's convenient espresso, a milk-blended drink with three shots of espresso and added vitamins B and D. Luigi Lavazza's EXPERT System, introduced in September 2020, offers versatile options, including authentic Italian espresso, milk-based beverages, and drip-style, with multiple machine options suitable for various office sizes. The continuous influx of new products positively impacts the global market throughout the forecast period.
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Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Growing demand for espresso coffee and increasing penetration of espresso machines is a major market trend. Home-brewed beverage is a preferred choice for many consumers, but the demand for espresso-based beverages is growing in developed countries, particularly among the younger generation. In the US, consumers enjoy creating these beverages at home, leading to an increase in retail unit sales of espresso machines. Coffee aficionados are interested in different beverage varieties, and companies are launching various espresso machines to cater to this demand. Philips offers the Saeco Brand Ambassador Program, providing users with coffee connoisseur classes and maintenance tips to retain customers. These factors are expected to drive the growth of the global market in the forecast period.
Fluctuating raw material prices is a major challenge hindering the market. Fluctuating prices of raw materials, such as beans and sugar, adversely affect the global market. The bean prices have been fluctuating over the years. The average global price of beverage beans increased by around 89.75% from 2020 to 2021. Globally, Brazil and Vietnam were the largest producers of beans in 2021. The devaluation of the Brazilian currency against the US dollar reduced bean prices in 2021. Global sugar prices have been fluctuating over the years. For instance, the average global price of sugar increased by around 20.21% from 2020 to 2021. Thus, the fluctuating prices of raw materials can impede the growth of the global market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the home and office segment will be significant during the forecast period. The consumption of beverage in homes and offices is increasing and is likely to remain high during the forecast period. This beverage gives an instant energy boost to those working for long hours in offices. The increasing preference for beverage will lead to a rise in the demand for beverage in offices during the forecast period. Most company offices have vending machines in their pantries where employees can brew the beverage of their choice.
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The home and offices segment showed a gradual increase in market share with USD 5,019.59 million in 2017 and continued to grow by 2021. The rising sales of home espresso machines during the COVID-19 pandemic and the work-from-home trend indicate an increase in the consumption of beverage at home. In Canada, for instance, 79% of consumers owned espresso machines at home in 2021, and companies are offering a variety of machines to cater to the demand. Nestle SA Nespresso, for example, provides Inissia and U machines and new espresso capsules that allow consumers to enjoy their favorite beverage at home. This segment is expected to grow due to the expansion of shops, such as Tata Starbucks, and the introduction of new espresso drinks to their menus. The "others" segment, which includes commercial places like hospitals, is also expected to contribute to the growth of the market.
During the forecast period, the pure espresso segment in the global market is projected to experience substantial revenue growth compared to other segments like double espresso, latte, mocha, and others. This can be attributed to the increasing preference for premium beverage among consumers, which is mostly consumed in restaurants, hotels, and offices. Pure espresso is known for its deep, rich, and aromatic flavor, and is typically made by dehydrating Brazilian espresso. It also has several health benefits, such as improving concentration and enhancing long-term memory. These factors are expected to drive the growth of the pure espresso segment in the global market.
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Europe is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market has been growing steadily for the last five years in Europe. The market in Europe is moderately concentrated due to a reasonable number of regional and a few global companies. Countries such as the UK, Russia, Germany, the Netherlands, and France are the major market that provide good prospects for companies in Europe. Nestle SA, Unilever PLC, and Starbucks Corp are some of the major companies operating in the market in Europe in 2022. Moreover, the increasing disposable income of consumers in the developing economies of Europe, especially in Eastern Europe, the rising number of organized retailing outlets in Europe, and the growing cafe culture in the region are factors that are estimated to fuel the growth of the market in Europe during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis of the latest market trends and growth opportunities from 2017 to 2027.
The market offers a plethora of choices to coffee enthusiasts, ranging from pure espresso, double espresso, ristretto, cappuccino, latte, mocha, macchiato, americano, and other variants. These options cater to diverse preferences and brewing methods. Type (Pure Espresso, Double Espresso, Ristretto, Cappuccino, Latte, Mocha, Macchiato, Americano and Others).The market includes various types of coffee beans such as Arabica, Robusta, and Liberica, each offering distinct flavors and characteristics. Roast levels vary from medium, dark, light, and others, contributing to the complexity of profiles. Distribution channels encompass specialty stores, supermarkets, hypermarkets, convenience stores, production and capacity e-commerce platforms, and others, facilitating wide accessibility to consumers. Distribution Channel (Specialty Stores, Super Markets / Hyper Markets, Convenience Stores, E-Commerce and Others). End-user (Cafes and Restaurants, Offices, Airports, Homes, Hotels and Bars, Educational Institutes, Hospitals and Others)
Industry trends highlight the market's growth rate, geographical coverage, major players, and production capacities. The supply chain dynamics, pricing trends, and market scenarios further influence consumer behavior. Espresso coffee's popularity is driven by its longer shelf life, rich flavors, and strategic marketing efforts by manufacturers like Starbucks Blonde Espresso. Beans (Coffee Arabica, Coffee Robusta, and Coffee Liberica) However, dental problems pose a restraint to market growth. Roast (Medium, Dark, Light, OthersRecent developments, including the introduction of new flavors and Starbucks Blonde Espresso, are shaping regional market, with regional analysis/insights opportunities emerging from increasing demand for diverse flavors and growing individual living standards. Market analysis underscores the significance of flavors, quality, and strategic promotions in driving consumer preferences and market growth.
Espresso Coffee Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.84% |
Market growth 2023-2027 |
USD 4,559.96 million |
Market structure |
USD Fragmented |
YoY growth 2022-2023(%) |
5.0 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 41% |
Key countries |
US, China, Italy, Germany, and France |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ahold Delhaize Co., Black Rifle Co. LLC, Cabrales SA, Day Enterprises Ltd., F. Gavina and Sons Inc., Inspire Brands Inc., JAB Holding Co. Sarl, Kitu Life Inc., Luckin Inc., Luigi Lavazza SpA, Market Lane Pty Ltd., Massimo Zanetti Beverage Group Spa, McDonald Corp., Nestle SA, Peets Coffee Inc., Procaffe SpA, Starbucks Corp., The Coca Cola Co., and Tobys Estate Pty Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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