— Allied Market Research
WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, August 1, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Coffee Concentrates Market,” The coffee concentrates market was valued at $2.2 billion in 2022, and is estimated to reach $3.6 billion by 2032, growing at a CAGR of 5% from 2023 to 2032.
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Coffee concentrates is a highly concentrated form of brewed coffee that undergoes a specialized production process to extract maximum flavor and caffeine content. The production typically involves coarsely grinding coffee beans and steeping them in cold or hot water for an extended period, often ranging from several hours to overnight. This slow extraction process allows the water to absorb the soluble compounds from the coffee grounds, resulting in a dense, concentrated liquid.
After steeping, the mixture is filtered to remove the grounds, yielding a thick, concentrated coffee solution. Cold brewing methods tend to produce a smoother and less acidic concentration compared to hot brewing methods, which impart a richer flavor profile. The concentrates is then diluted with water or milk to achieve the desired strength and flavor, making it versatile for various coffee-based beverages such as iced coffee, lattes, and espresso-based drinks. The high concentration of coffee concentrates allows for longer shelf life and easier storage compared to regular brewed coffee, making it a convenient option for both home and commercial use.
The shift toward home brewing and do-it-yourself coffee experiences has significantly surged the coffee concentrates market demand. As consumers increasingly seek to replicate the cafe experience in the comfort of their own homes, coffee concentrates offer a convenient and versatile solution. With coffee concentration, individuals easily create a wide range of coffee-based beverages, such as lattes, iced coffees, and even specialty drinks, without the need for expensive equipment or extensive barista skills. This trend has been accelerated by the COVID-19 pandemic, which prompted many to limit their visits to coffee shops and explore alternative ways to enjoy high-quality coffee at home.
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Even though coffee concentrates market have experienced rapid growth, there are certain factors which hamper the growth of the market. Extreme weather changes such as drought, frosts, and pests significantly damage coffee crops, which reduces production and disrupts timely supply of coffee beans to the market, which creates challenges to produce coffee concentrates products. For instance, in November 2021, global coffee prices surged due to challenging conditions in Brazil, including drought, frost, and unusual weather patterns. This trend continued into 2022, with a 14.8% increase in coffee product prices observed in grocery stores. The increased risk of adverse weather conditions poses a threat to crucial coffee supplies from these areas, thus contributing to supply shortages and fluctuations in prices of coffee beans used in coffee concentrates production. These uncertainties affect the quality of coffee concentrates and hinder potential investments & expansion efforts in the industry, thereby impeding the overall coffee concentrates market growth.
The adoption of coffee concentrates by foodservice and hospitality industries has significantly expanded the market opportunities, which is expected to boost demand in the coffee concentrates industry. One key factor driving the adoption of coffee concentrates products in food service and hospitality sectors is demand for efficiency and consistency in serving high-quality coffee beverages. Coffee concentrates offers a convenient solution for businesses in these sectors, allowing them to streamline their operations by eliminating the need for complex brewing equipment and reducing preparation time. With coffee concentration, establishments easily prepare large batches of coffee ahead of time, ensuring rapid service during peak hours without compromising on taste or quality. This efficiency translates into cost savings for businesses and enhanced customer satisfaction due to shorter wait times and consistently delicious coffee, which has thus helped to boost the coffee concentrates market share in the coming years.
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The coffee concentrates market is segmented into source, type, packaging, distribution channel, and region. By source, the market is classified into Arabica, robusta, and others. Depending on type, it is divided into caffeinated and decaffeinated. On the basis of packaging, the market is fragmented into bottles, pouches, and others. According to distribution channels, it is segregated into supermarkets/hypermarkets, B2B, departmental stores, convenience stores, and online sales channel. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, ASEAN, and the rest of Asia-Pacific), Latin America (Brazil, Colombia, Argentina, and the rest of Latin America), and Middle East and Africa (GCC, South Africa, and the rest of MEA).
By source, the Arabica segment dominated the global coffee concentrates market in 2022 and is anticipated to maintain its dominance during the forecast period. Arabica beans are known for their smooth, mild flavor, lower caffeine content, and refined aromas compared to Robusta beans. Arabica beans are associated with higher quality and grown at higher altitudes. The versatility of Arabica coffee beans makes it suitable for various brewing methods, including cold brewing for concentrates production.
By type, the caffeinated segment dominated the global coffee concentrates market in 2022 and is anticipated to maintain its dominance during the forecast period. Caffeine is a popular choice for enhancing alertness and focus on today’s fast-paced world, which has helped to set a caffeinated coffee concentrates market trends in recent times. Coffee concentrates offers a convenient and customizable solution for those seeking a quick energy boost. Its versatility allows consumers to adjust their concentration or mix it with other beverages according to their preferences. As a result, the caffeinated segment dominates the coffee concentrates market, meeting the demand for convenient and energizing options.
By packaging, the bottle segment dominated the global coffee concentrates market in 2022 and is anticipated to maintain its dominance during the forecast period. Bottled packaging is highly favored by consumers in the coffee concentrates market owing to the convenience, portability, and ability to preserve freshness. Bottle offers ready-to-use convenience without additional equipment, which is considered ideal for busy lifestyles. The portability caters to on-the-go consumption, further driving the demand for this segment, thus driving the overall coffee concentrates market size. Bottled packaging also helps maintain the freshness and flavor of the concentrates for longer periods, ensuring consistent quality, making it the preferred choice for hassle-free experience.
By distribution channel, the supermarkets/hypermarkets segment dominated the global coffee concentrates market in 2022 and is expected to maintiain its dominance during the coffee concentrates market forecast. Consumers prefer buying coffee concentrates from supermarkets and hypermarkets due to convenience, variety, and accessibility. These retail environments offer a one-stop shopping experience with diverse coffee brands, flavors, and formulations. Extensive shelf space and strategic product placement enhance visibility, enabling easy exploration and comparison of prices and promotional offers.
Region wise, North America is anticipated to dominate the market with the largest share during the forecast period. North America benefits from a strong coffee culture and demand for diverse coffee products, with coffee concentrates being preferred for its convenience and versatility. The fast-paced lifestyle in the region drives demand for convenient coffee options, and the presence of major manufacturers and ongoing innovations further boosts the market growth for coffee concentrates in North America.
The major players considered in the coffee concentrates market analysis are Nestle SA, Starbucks Corporation, The J.M. Smucker Company, All American Coffee LLC, Califia Farms, LLC, Javo Beverage Company, Inc., Javy Coffee Company, Grady’s Cold Brew, Kohana Coffee, and Climpson & Sons.
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KEY FINDINGS OF STUDY
By source, the Arabica segment was the highest revenue contributor to the market in 2022.
As per type, the caffeinated segment was the largest segment in the global coffee concentrates market during the forecast period.
By packaging, the bottle segment was the largest segment in 2022.
Depending on distribution channel, the supermarkets/hypermarkets segment was the largest segment in 2022.
Region-wise, North America was the highest revenue contributor in 2022.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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