Coffee concentrate is a liquid form of coffee with 100 % concentration of brewed coffee with a high ratio of soluble solids resulting from the proprietary brewing process. Coffee concentrate is a type of ready to drink a beverage which can be consumed directly or by mixing in milk etc. Different flavors of coffee are used to prepare the differently flavored coffee concentrate.
Coffee Concentrate Market: Dynamics
The major driver for coffee concentrate market is growing demand for ready to drink products in the food industry. Coffee is one of the most popular beverages in the world. The increasing popularity of ready to drink product is increasing the demand for coffee concentrate in the market. High pace lifestyles of the consumer are shifting the choice of people from traditional coffee to concentrate form. The use of instant coffee in homes and offices is likely to create opportunities for coffee concentrate market.
Changing lifestyle of the people has a positive impact on coffee concentrate market. The increasing popularity of coffee among the youth and increasing consumption of coffee around the world is helping the coffee concentrate market to grow at a substantial rate.
Coffee concentrates is easy to use the product in comparison to traditional ice coffee which is high in demand in developed countries. Thus, creating equal opportunities for the coffee concentrate market. The rising HORECA industry is also driving the demand for Coffee concentrate in the market. With increasing numbers in cafes and restaurants in developing countries, the ready to drink coffee forms are high on demand.
Coffee Concentrate Market: Segmentation
The coffee concentrate market is segmented by product type and sales channel.
The coffee concentrate market is segmented by product type
The coffee concentrate market segmented by sales channel
By product type segment, cold brew coffee concentrate is the leading segment in the global Coffee concentrate market attributed to growing demand for instant coffee among consumers. The black coffee concentrate is directly used by consumers and will continue to lead in upcoming years.
Coffee Concentrate Market: Regional Outlook
The global coffee concentrate market is segmented by regions into North America, Latin America, Western Europe, Eastern Europe, and Middle East & Africa (MEA).
North America is anticipated to be the largest market and is expected to spur during the forecast period. Japan and APEJ are projected to grow at an accelerated rate in coming years.
Europe is one of the dominating regions in terms of consumption for coffee concentrate market. The coffee concentrate market is likely to increase in the upcoming years attributed to increases in consumption and popularity of coffee among the population. The U.S. is expected to grow at a considerable rate in the forecasted period. The consumption of coffee concentrate is likely to rise in developing regions like Japan, China, and India. The coffee concentrate market is growing at a substantial rate in major developing countries due to increase in reach to the domestic sector and increase in popularity for coffee.
The instant coffee is popular in Asia Pacific region and is expected to grow with a CAGR between 3-4%. The consumption of functional drink is high in developed economies such as North America, Europe etc. The growing demand for functional drinks will help to increase the demand for coffee concentrate market.
Coffee concentrate Market: Key Players
Some of the key market players in the global coffee concentrate market are
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