NEW YORK, Dec. 6, 2023 /PRNewswire/ — In a recent Technavio report titled Coffee Pods and Capsules market is projected to grow at a rapid pace in the coming years. The market size is projected to increase by USD 9.46 billion, accelerating at a CAGR of 6.16% between 2022 – 2027. It is revealed that Europe is estimated to contribute 45% to the growth of the global market. Download the sample report here
The coffee pods and capsules market is witnessing growth, predominantly driven by the increasing demand for convenience. Since 2008, this demand has increased due to rapid urbanization and infrastructure development in developing nations. Urban consumers, particularly in North America and Western Europe, favor ready-packaged food and beverages, leading to the rising popularity of coffee pods. These single-serving containers are preferred in cafes and restaurants for their simplicity and time efficiency, catering to the demand for convenience without requiring extensive barista training. This trend is expected to drive the market’s growth during the forecast period. Buy the full report
The expansion of household spending on food and beverages in Europe, accompanied by continuous product introductions, is expected to boost the advancement of the coffee pods and capsules market within Europe. Moreover, supermarkets and hypermarkets stand out as the principal distribution channels for coffee pods, particularly favored in Europe’s urban areas. As per Eurostat data from 2019, household expenditure on food and beverages in the EU accounted for 13.2% of the total consumption expenditure. These dynamics are projected to be key drivers driving the growth of the coffee pods and capsules market in Europe between 2022 – 2027.
Technavio highlights the emerging trends of Coffee Pods And Capsules Market:
- Technology integration and packaging innovations drive trends in the competitive coffee pods and capsules market, leading to the introduction of new products.
- Tough competition exists from alternative coffee variants like instant coffee and RTD coffee, pushing companies to launch technologically innovative products such as CoffeeB’s seaweed-based coffee ball and Tim Hortons’ Nespresso-compatible capsules.
- Recent introductions like Nespresso Vertuo from Starbucks and upcoming launches of compostable coffee capsules are anticipated to further stimulate growth in this market segment.
The market is segmented by Product (capsule and plastic cup-based coffee pods, foil, and paper-wrapped coffee pods), Type (coffee capsules and coffee pods), and Geography (Europe, North America, APAC, Middle East and Africa, and South America).
The capsule and plastic cup-based coffee pods segment is projected to experience substantial market share growth during the forecast period. Coffee capsules, similar to coffee pods, consist of pre-packaged, precisely measured coffee doses enclosed in a capsule, typically requiring disposal after a single use. These capsules feature a foil top and are crafted from aluminum or plastic materials. The growing demand for instant non-alcoholic beverages has notably boosted consumer acceptance of coffee capsules, thereby contributing to the expected expansion of this segment in the forecast period.
Companies like J.M Smucker Co., Nestle SA., and Starbucks Corp., are major players in the Coffee Pods And Capsules Market.
According to Technavio’s Analysis, The Coffee Pods and Capsules Market is driven by factors such as convenience, technological innovations, and evolving consumer preferences. This market’s growth is predominantly driven by the increasing demand for ready-to-use packaged beverages, especially in North America and Europe. However, challenges persist, notably the pricing dynamics and the availability of more economical alternatives in certain regions, which necessitate strategic pricing adjustments to attract consumers in developing economies.
Download now to uncover successful business strategies deployed by Companies in coffee pods and capsules market – Download Latest Free Sample Report in Minutes
Related Reports:
Roast and Ground Coffee Market: The global roast and ground coffee market size is estimated to grow at a CAGR of 6.89% between 2022 and 2027. The size of the market is forecast to increase by USD 27.84 billion.
Coffee Machine Market: The coffee machine market size is estimated to grow at a CAGR of 7.5% between 2022 and 2027. The market size is forecast to increase by USD 8,728.19 million.
TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Product
- Market Segmentation by Type
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
