The global instant coffee market was valued at over $33 billion in 2015 and is expected to surpass $43 billion by 2020, says Technavio.
Technavio has announced its latest market research report on instant coffee during the forecast period, 2016-2020. This market analysis, under the non-alcoholic beverages vertical, discusses the major drivers and key emerging trends that will influence the growth of the global instant coffee market during the forecast period. Some of the top vendors listed in this industry analysis include JDE, Keurig Green Mountain, Nestlé, and Starbucks.
As per geographical segmentation, Europe will be the largest region in the global market and is expected to reach revenues of more than $15 billion by 2020. The UK, Russia, Turkey, Belarus, and Ukraine will emerge as the key revenue-generators.
“The vendors in the market are introducing several variants and flavors of coffee to meet the preferences and tastes of various consumers. The market is also witnessing the advent of specialty coffees to target premium consumers. It is estimated the different coffee shops are introducing new types of instant coffee to gain a competitive advantage over other players. For instance, Starbucks started offering many different flavors to choose from to gain popularity among consumers,” says Brijesh K Choubey, a lead analyst at Technavio for research on non-alcoholic beverages
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Prominence of café culture
The demand for instant coffee is driven by the increasing number of cafés and coffee chains across the world. The vendors are establishing coffee shops in locations that include busy markets and near offices and colleges to cater to requirements of the working populace and students. The developing companies are witnessing the trend of visiting cafes for casual social conversations which in turn is boosting the market growth.
Optimal alternative for time-pressed consumers
The introduction of flavored ready-to-drink instant coffee that does not require time-consuming preparation process is ideal for consumers that lead a busy lifestyle. The fast-paced life, longer working hours, and busy lifestyle of various end-users is boosting the demand for instant coffee in the market. Instant coffee is regarded as the highly convenient and time-saving option among consumers compared to traditional coffee brewing technique. The vendors in the market are introducing new variants and enhancing their existing product offerings to meet the changing consumer preferences and demand.
Growth in demand for Robusta coffee
Robusta beans have low acidity and bitterness properties that are making is a popular choice among consumers across various nations. The APAC market is witnessing an increasing demand for ready-to-drink coffee over the traditional drink of tea. The production of Robusta beans in China and India is expected to increase during the forecast period.
Other prominent vendors identified in this report are AJINOMOTO GENERAL FOODS, AMT Coffee, COLCAFÉ S.A.S. – INDUSTRIA COLOMBIANA DE CAFÉ, InterNatural Foods, The J.M. Smucker Company, Kraft Heinz, Lavazza, Strauss Coffee, Tata Coffee, Tchibo Coffee, and Trung Nguyen.
This research report includes an in-depth analysis, market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Instant Coffee Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Coffee Market in Mexico 2016-2020
- Global Roast and Ground Coffee Market 2016-2020
- Hot Drinks Packaging Market in the US 2016-2020
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