DUBLIN, Nov. 29, 2023 /PRNewswire/ — The “Specialty Coffee Market Size, Share & Trends Analysis Report By Age Group, By Application, By Distribution Channel, By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global specialty coffee market size is expected to reach USD 51, 404.0 million by 2030, expanding at 11.3% CAGR from 2023 to 2030. The market expansion is anticipated to be fueled by the rising preference for ready-to-drink coffee and premium coffees and increasing number of coffee shops globally.
The growing demand for specialty coffee can be attributed to a variety of factors, including the desire for high-quality, flavorful coffee experiences, and increased awareness of ethical & sustainable sourcing practices. As coffee culture continues to thrive, consumers are seeking unique experiences, with specialty coffee shops and cafes serving as popular social destinations. Health-conscious individuals are also drawn to specialty coffee, which often uses higher quality beans and more refined roasting processes. Social media has further amplified interest in specialty coffee by showcasing new products and trends.
Specialty Coffee Market Report Highlights
- The 18-24 age group segment held the largest share of 32.7% in 2022. This age group often seeks out new and unique flavors, leading them to prefer the taste and quality of specialty coffee. However. The age group of 25-39 is expected to expand at the fastest CAGR of 12.0% over the forecast period owing to the desire for authenticity and unique brewing methods, which cater to this demographic’s desire for novelty and unique experiences
- The commercial segment held a significant share of 74.3% in 2022. The growing awareness and appreciation for higher quality coffee has led to an increase in demand for specialty coffee. This drives commercial businesses, such as coffee shops and restaurants, to offer specialty coffee options to attract customers and stay competitive in the market. The home segment is expected to expand at the fastest CAGR of 11.8% over the forecast period
- The online segment dominated the market and is expected to continue to maintain its dominance over the forecast period. It is expected to expand at a highest CAGR of 12.3% during the forecast period. Shopping for specialty coffee through online distribution channels such as Walmart and Amazon allows consumers to easily compare prices, features, and reviews of different products. This helps them make an informed decision about which product to buy, ensuring that they get the best value for their money
- Europe held the highest market share of 30.8% in 2022. The presence of various leading market players such as Square Mile Coffee Roasters, Gardelli Specialty Coffees, Tim Wendelboe, among others in the region is a major factor contributing to the market growth. Also, Europe has a long-standing and well-established coffee culture, with countries like Italy, France, and Spain being famous for their coffee traditions. This makes Europeans more open to exploring and appreciating high-quality coffee experiences. Asia Pacific is expected to expand at the fastest CAGR of 13.6% over the forecast period
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Specialty Coffee Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Price Trend Analysis, 2018 – 2030
3.4. Market Dynamics
3.5. Impact of Covid-19 Pandemic
3.6. Industry Analysis Tools Porter’s
Chapter 4. Consumer Behavior Analysis
4.1. Demographic Analysis
4.2. Frequency of Purchase
4.3. Consumer Trends and Preferences
4.4. Factors Affecting Buying Decision
4.5. Consumer Product Adoption
4.6. Observations & Recommendations
Chapter 5. Specialty Coffee Market: Age Group Analysis & Estimates
5.1. Age Group Movement Analysis & Market Share, 2022 & 2030
5.2. 18-24
5.4. 25-39
5.5. 40-59
5.6. Above 60
Chapter 6. Specialty Coffee Market: Application Analysis & Estimates
6.1. Application Movement Analysis & Market Share, 2022 & 2030
6.2. Home
6.3. Commercial
Chapter 7. Specialty Coffee Market: Distribution Channel Analysis & Estimates
7.1. Distribution Channel Analysis & Market Share, 2022 & 2030
7.2. Supermarkets/Hypermarkets
7.3. Convenience Stores
7.4. Online
Chapter 8. Specialty Coffee Market: Regional Estimates & Trend Analysis
Chapter 9. Specialty Coffee Market- Competitive Landscape
- Starbucks Coffee
- F. Gavina & Sons
- Barista Coffee Company
- Coffee Day Enterprises
- Blue Bottle Coffee
- Eight O’Clock Coffee
- Keurig Green Mountain
- Costa Coffee
- J.M. Smucker
- Inspire Brands
For more information about this report visit https://www.researchandmarkets.com/r/5zzzu0
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
