The global coffee industry is a multi-billion dollar industry. According to market experts, the annual growth rate of the coffee industry is at 4.22% for the 2020-2025 period. Based on market statistics South America is the fastest-growing market, while Europe occupies the largest market share.
Due to the Covid-19 pandemic, the coffee industry has been disrupted in many ways. Based on the September 2020 reports by the International Coffee Organisation (ICO) the global production of coffee is down 2.2% compared to last year.
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Consumer Trends Leading To the Growth Of The Global Coffee Industry
Here are some of the most popular consumer trends that can be seen in the coffee industry:
- Ready-to-drink coffee is becoming more popular
Based on reports, ready-to-drink coffee is one of the fastest-growing segments in the European market. Many of you may not know this but ready-to-drink coffee is considered to be a healthier alternative to drinks like soda and coke.
- Coffee brewing equipment market is growing
With the development in technology, home brewing is changing at a rapid pace. Nowadays, consumers want the best equipment to brew coffee at home. They are choosing new equipment with better and advanced technology.
Based on reports, 24% of customers are less likely to choose traditional drip coffee machines than they preferred back in 2015. Instead, they choose single-cup brewers, the market for which has grown by 50% in the last few years. Not just that, but the demand for coffee capsules and pods has also increased in the same period. It is expected that the global market for these machines will grow double in the future.
- Rise of agri-tourism in the coffee industry
Even agri-tourism is contributing to the growth of the coffee industry worldwide. In today’s time, it seems to be a viable market for those in the industry.
This type of tourism in the coffee industry can be compared to the wine industry. Customers nowadays want a more authentic experience. They are curious to know where their coffee is coming from. This is why they seek out coffee growers for tastes, tours, and learning experiences.
Currently, the coffee industry is one of the fastest-growing industries in the world, with Europe occupying the major market share. Although the industry suffered a little setback due to the pandemic, it is expected to come back stronger in the coming years.
Gourmets Food 