Market Research Future (MRFR) predicts the global instant coffee market to have a lucrative run at a substantial CAGR during the forecast period (2020-2030).
Instant coffee comes in the form of powder that is made by vaporizing brewed coffee beans. The product is ranked among the premium value-added drinks by the rising number of coffee drinkers in developing low-income tea-drinking markets. Preparing instant coffee is extremely convenient, and the customers are spoilt for choice by the manufacturers that offer multiple flavors as well as formats. These factors, MRFR points out, could work in favor of the global instant coffee market in the ensuing years.
Growth Boosters and Top Restraints
Some growth-inducing factors in the Instant Coffee Market include the convenience with which instant coffee can be prepared compared to fresh coffee. As consumers need to boil water, add instant coffee and stir, hence the short time taken is considered to be an appealing aspect. Evolving lifestyle along with rising urbanization, also positively affect the instant coffee trend, with its consumption noted to be particularly high among youngsters. The new consumers opting for instant coffee, predominantly in the emerging markets, seem to benefit the market to a great extent. The strong demand for instant coffee is due to a host of benefits it provides, in addition to satisfying the taste buds. Modernization is another critical factor that is stimulating market growth all over the world.
Sensing the boom of various opportunities, manufactures are continuously coming up with attractive and novel ideas to improve instant coffee with respect to quality, flavor, and aroma. These efforts have given way to various similarities between instant coffee and freshly brewed coffee. As of now, single-service systems are being introduced that are perfect for carrying and consuming; leading to robust growth in out-of-home and at-home segments. These kinds of innovations in the market give a significant boost to the demand for instant coffee.
The global instant coffee market has been studied in the primary regions of Asia Pacific, North America, Europe, and the rest of the world (RoW).
Data experts predict Asia Pacific to be the leading market for instant coffee with solid backing from Vietnam which is the second largest producer of coffee in the world. Increasing urbanization, expanding population, and rising influence of western culture could boost growth of the regional market. Consumers with growing affinity for coffee in the region find instant coffee quite alluring on account of its various benefits. Innovation is another significant factor that is elevating the perennial demand for instant coffee in the region.
Instant coffee enjoys massive popularity in North America as convenience food and beverage items find a number of buyers here. Vendors in the region keep their offerings unique and fresh to get a hold of more consumers. High disposable income of people and the subsequently high capability of spending also raise the market position in the region.
Europe controls a substantial portion of the worldwide market. The region is known for its age-old tradition of coffee-drinking, which gives rise to the demand for instant coffee products.
The global instant coffee market has been segmented on the basis of category, type, distribution channel.
Considering the category, the global instant coffee market can be narrowed down to traditional and decaffeinated. The traditional instant coffee segment secured the top spot in 2018 on account of the rising sales volume among retail consumers. But the decaffeinated segment could achieve higher CAGR as a result of the growing preference for coffee with low caffeine content among consumers.
Depending on the type, the global instant coffee market has been split into freeze-dried and spray-dried. The spray-dried segment’s coverage is expected to be maximum in the given timeframe on account of the surging demand for the powdery form of spray-dried instant coffee that helps with quick dissolution in milk or hot water. Meanwhile, the freeze-dried segment could demonstrate higher CAGR during the appraisal period. The reason could be freeze-dried instant coffee’s better retention of flavor and aroma of freeze-dried instant coffee, especially compared to spray-dried instant coffee.
The distribution channels mentioned in the report include store-based and non-store-based. The store-based distribution channels are convenience stores, supermarkets and hypermarkets, and others. The store-based distribution channels gained high prominence in the worldwide instant coffee market in 2018. The expanding retail industry along with numerous retail outlets cropping up across the globe fuel sales via this channel. The presence of several options also pushes segmental growth, since stores offer multiple options to the consumers. Having said that, the non-store-based segment could achieve a higher CAGR during the conjectured period owing to the mounting use of e-retail channels selling instant coffee.
Unilever Plc (UK), Kraft Foods Group, Inc. (US), Jacobs Douwe Egberts BV (Netherlands), Keurig Dr Pepper (US), Matthew Algie & Company Ltd (Scotland), Nestlé SA (Switzerland), Tata Global Beverages Ltd (India), Strauss Group Ltd (Israel), Starbucks Corporation (US), Tchibo Coffee International Ltd (US), are among the top contributing players in the worldwide instant coffee market.
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Explore & Enjoy – a new Brazilian instant coffee brand has been launched by The Brazilian Soluble Coffee Industry Association (ABICS) to promote their product all over the world. The Arab countries are the main target of the brand, as the Arab market make for 5.8% of the brand’s total exports.
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