Rockville , July 24, 2023 (GLOBE NEWSWIRE) — As per Fact.MR, a provider of market research and competitive intelligence, The Coffee Concentrates Market is expected to witness a CAGR of 7.4% during the forecast period and the market is predicted to reach a value of US$ 4,625.0 Million by 2033.
Coffee concentrates give customers convenience by making it quick and simple to make coffee drinks. They do away with the need for measuring coffee, grinding beans, and brewing an entire pot. Customers may easily generate the appropriate coffee strength by combining the concentrate with water or milk.
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|Forecast Period||2023 – 2033|
|Value Projection (2033)||US$ 4,625.0 Million|
|Growth Rate (2023-2033)||7.4% CAGR|
|No. of Pages||170 pages|
|No. of Tables||98 Tables|
|No. of Figures||154 Figures|
Key Driving Forces Accelerating the Market Growth
- Coffee concentrates offer a quick and convenient way to prepare coffee, making it an attractive option for busy consumers who are always on the go. The ease of preparation and the ability to carry coffee concentrates in portable containers appealed to the fast-paced lifestyle of North American consumers.
- Various geographies including North America have seen a significant rise in coffee culture, with an increasing number of consumers seeking high-quality coffee experiences beyond traditional drip coffee. Coffee concentrates, such as cold brew and espresso shots, catered to this demand for premium and artisanal coffee products.
- As consumers became more health-conscious, there was a growing interest in coffee products with reduced sugar content and healthier ingredients. Coffee concentrates allowed for customization, letting consumers control the sweetness and adding healthier alternatives like plant-based milk or natural sweeteners.
- Coffee concentrates typically required less packaging and generated less waste compared to traditional coffee products. This sustainability aspect resonated with environmentally conscious consumers who sought eco-friendly alternatives.
Key Companies Profiled in This Report
- All American Coffee LLC
- Javo Beverage Company, Inc.
- Javy Coffee Company
- Jot Labs Inc
- Mode Cold Brew Coffee
- Nestlé S.A.
- Starbucks Corporation
- Virginia Dare Extracts Co.
Vital indicators shaping future of the industry
- Ongoing changes in consumer preferences, including their taste for new flavors, healthier options, and sustainable products, play a significant role in shaping the coffee concentrates market. Monitoring shifts in consumer behavior and preferences can guide companies in developing relevant products and marketing strategies.
- The increasing focus on health and wellness has influenced the beverage industry, including coffee. Consumers’ demand for low-sugar, natural, and functional beverages has driven manufacturers to develop healthier coffee concentrate formulations to cater to this segment of the market.
- Environmental sustainability remains a critical concern for consumers. Companies that demonstrate their commitment to sustainability through responsible sourcing, eco-friendly packaging, and reduced carbon footprints are likely to gain a competitive edge and appeal to environmentally conscious consumers.
- Continuous innovation and the introduction of new coffee concentrate products with unique flavors, functional ingredients, and novel packaging solutions can fuel market growth. Companies that stay ahead of the curve in terms of product development are better positioned to capture consumer interest.
Challenges Hindering The Market Growth
- The coffee concentrates market faces stiff competition from traditional coffee products, such as ground coffee, instant coffee, and ready-to-drink (RTD) beverages. Convincing consumers to switch from their familiar coffee choices to concentrates can be a challenge.
- Many consumers may not be familiar with coffee concentrates or their preparation methods. The lack of awareness and education about the benefits and usage of coffee concentrates can limit their adoption.
- Some consumers associate high-quality coffee with the freshness and aroma of whole coffee beans. Coffee concentrates may face challenges in convincing consumers of their quality and authenticity compared to freshly brewed coffee.
Strategies For Manufacturers/Suppliers To Scale In The Market
- Key players in the market are focusing on high-quality coffee concentrates with unique flavors to establish sustainable market share. In fact, companies should expand their product portfolio to include a wide range of coffee concentrate flavors, formulations, and packaging options. Moreover, diversification allows manufacturers to cater to different consumer preferences and target various market segments.
- For instance, Starbucks offers its lines of Starbucks VIA Instant Coffee that offer a diverse range of flavor profiles
Segmentation of Coffee Concentrates Industry Research Report
- By Bean Type:
- By Brew Type:
- French Press
- Pour Over
- By Caffeine Content:
- By Buyer Type:
- By Roast Type:
- By Distribution Channel:
- Modern Trade
- Convenience Stores
- Specialty Stores
- Other Offline Stores
- Company Websites
- E-Commerce Platforms
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the Coffee Concentrates Market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on Bean Type (Robusta, Excelsa, Liberica, and Arabica), By Brew Type (Cold, Drip, French Press, Espresso, and Pour Over, across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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