Fact.MR anticipates growth in the coffee market over the next decade
According to a recently published analysis by Fact.MR, the coffee roaster market is expected to register a CAGR of 5% by garnering a market value of US$ 701.24 Billion in 2032 from US$ 430.5 Billion in 2022. The market is significantly driven by the growing consumer inclination towards coffee consumption across the world. From 2021 to 2022, the market experienced a Y-o-Y incline of 5%.
According to the International Coffee Council, consumer preference in South and East Asia is changing with favourable demand for the consumption of fresh coffee. This increasing demand for fresh coffee in countries in the Asia Pacific are significantly contributing to the increasing coffee consumption.
Key Challenges/Restraints to Coffee Roaster Industry Growth
The low shelf- life of roasted coffee acts as a major restraint for the coffee roasters market, as it loses flavour due to the onset of staleness. Furthermore, increased and extensive usage of instant coffee powder hinders the global market. This is primarily because instant coffee powder reduces the time needed for roasting and grinding.
Other challenges faced by the coffee roasters market include emission of toxic gases and particulate matter during the roasting process along with high consumption of tea in major parts of the world.
Key players in the global coffee roaster market include US Roaster Corp., Coffee Holding Company Inc., Behmor Inc., Hottop, and Giesen Coffee Roasters. Some of the recent developments in coffee roaster market are:
- In March 2022, Breville Group Ltd. launched beanz.com, an e-commerce platform featuring around 50 specialty coffee roasters for residential use.
- In December 2021, Starbucks introduced its new oat dairy alternative coffee in its espresso segment. It includes three combinations of flavors, Vanilla & Strawberry, Hazelnut & Honey, and Dark Cocoa & Orange, which are uniquely handcrafted to enhance a distinctive flavor. It also announced its plan to not charge extra for dairy-alternative products from January 2022.
- In September 2021, Nespresso of Nestle SA launched its coffee roasting machine “Roasterlier.” It aims to provide the most reasonable coffee roasting solutions for HoReCa entrepreneurs across the world, starting with Europe. The machine is customizable to prepare Arabica coffees in a sustainable way.
These insights are based on a report on by Fact.MR.