The Business Research Company’s Coffee And Tea Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Coffee And Tea Global Market Report 2023 evaluates coffee and tea market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global coffee and tea market is expected to grow from $286,268.0 million in 2027 at a rate of 10.0%. The market is then expected to grow at a CAGR of 10.2% from 2027 and reach $464,700.3 million in 2032.
Increasing consumer preference for coffee is expected to drive the growth of the coffee and tea market during the forecast period. The rising consumer preference for coffee over other beverages will increase demand for coffee products. According to exclusive consumer polling released in March 2022, by the National Coffee Association (NCA), a US-based association for the coffee industry, coffee consumption has risen to a two-decade high as Americans brew up new post-COVID routines. Coffee is currently consumed by 66% of Americans every day, more than any other beverage including tap water, and has increased by about 14% since January 2021, the greatest growth since NCA began recording statistics. For instance, according to the NCA’s Spring 2022 National Coffee Data Trends (NCDT) report, Americans have increased their coffee consumption away from home by 8% since January 2021. Coffee consumption at home remained above pre-pandemic levels. In the last day, 84% of coffee users had coffee at home, up from 80% in January 2020. Consumption of espresso-based beverages, which are frequently prepared away from home, has increased by 30% since the start of the pandemic, showing both recovery from the COVID-19 epidemic and new growth. Therefore, the increasing consumer preference for coffee will drive the growth of the coffee and tea market.
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The coffee and tea market segments in the report are:
1) By Type: Coffee; Tea
- a) By Coffee Type: Roasted Coffee; Coffee Concentrates; Essences And Extracts; Other Coffee Products
- b) By Tea Type: Black Tea; Green Tea; Specialty Tea; Other Tea
2) By Form: Liquid; Powder; Capsules
3) By Packaging: Containers, Bags, And Packets Or Pouches.
4) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce And Other Channels
The table of contents in TBRC’s coffee and tea market report includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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