The global coffee market is considered to expand at 4.32% CAGR and is anticipated to garner USD 102,279.2 million, owing to the growing consumption of coffee across the globe, asserts Market Research Future (MRFR). Coffee is regarded as the highest consumed beverage in developed countries and is produced exclusively in the developing world. An organic and natural caffeine beverage, coffee is brewed by adding coffee beans either with hot or cold water in a coffee maker. It is a beverage with widespread consumption in the world.

With the rapid urbanization coupled with increasing per capita disposable income, the global coffee market is likely to expand at an incredible rate. Emergence of premium cafes and brand-alone retail stores to entice new demographic of consumers are likely to augur market growth. The industry players are making frequent innovations in the product variety which is further accelerating the growth of the market during the appraisal period. Manufacturers, for instance, have launched products like coffee premixes, coffee pods, and coffee capsules in order to meet the increasing demand of the consumers for convenience food. With the increasing consumption of coffee across the world, the market is likely to accelerate. Moreover, the availability of varieties of coffees, brewing styles, and flavors are influencing the growth of the market.

On the flip side, fluctuating prices of coffee beans can dampen the market growth during the review period. One of the highly traded commodities in the world, coffee and is rising rapidly both in producing and non-producing regions.

The global coffee market has been segmented on the basis of variety, form, distribution channel, and region.

Based on variety, the global coffee market has been segmented into Arabica, Robusta, and others. Among these, the Robusta type is anticipated to grow at a faster rate and accounts for 4.85% CAGR. The segment is likely to garner 4.85% during the forecast period. The Asia Pacific region is considered to account for the maximum proportion in this segment owing to the high consumption of coffee among the consumers. On the other hand, the Arabica segment is expected to demonstrate 4.07% CAGR. Europe is considered to account for the maximum share.

Based on form, the global coffee market has been segmented into ground, instant coffee powder, whole, portioned coffee, premixes, pods, and others. Among these, the ground form is expected to hold the largest market share and is likely to demonstrate 4.45% CAGR throughout the review period. The market is likely to garner USD 63,644.5 million during the review period. The whole form, on the other hand, is likely to project 4.12% CAGR over the forecast period and estimated to touch USD 38,634.7 million by 2023.

The coffee market has been studied under regions namely, North America, Asia Pacific, Europe, and Rest-of-the-World.

The North American region is estimated to demonstrate 23.88% CAGR during the review period and is likely to garner USD 24,277.8 million. The North American region is an attractive region among coffee manufacturers. The growth is majorly attributed to the high consumption of Arabica in this region. One of the major factors contributing to the growth of the market is the expanding product portfolio by the key manufacturers. Additionally, innovation in flavor is another major factor anticipated to influence the market growth. Moreover, manufacturers are focusing on the promotional activities in order to create awareness among the consumers related to the new product launch, which further stimulates the market growth.

The major players operating the global coffee market are The Kraft Heinz Company, Tchibo Coffee International Ltd, Strauss Group Ltd, Unilever PLC, Tata Global Beverages Ltd., Nestlé, Starbucks Corporation, The Coca-Cola Company, The J.M. Smucker Company, and Jacobs Douwe Egberts.

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