The global coffee market was valued at USD 223.78 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.4% during the period from 2024 to 2030. A major factor driving this growth is the steadily increasing demand for coffee worldwide. Coffee ranks among the most widely consumed beverages across the globe, and its popularity is rising steadily, especially in emerging regions such as the Asia Pacific. Factors such as rising disposable incomes, evolving lifestyles, and a growing coffee culture among consumers in various parts of the world are significantly contributing to the market’s overall expansion. Supporting this trend, data released by the National Coffee Association of U.S.A., Inc. in March 2020 indicates that coffee consumption in the United States increased by 5% since 2015.
In addition to the growing demand, changing consumer tastes and behavioral trends are playing an increasingly important role in shaping the coffee market landscape. Factors such as heightened interest in specialty and gourmet coffee varieties, an emphasis on organic and sustainably sourced products, and a rising appreciation for premium and single-origin coffees are influencing how the market evolves. Specialty and gourmet coffees are often associated with superior quality and distinct flavor profiles.
As a result, more consumers are willing to pay a higher price for these options, which boosts the overall value of the coffee industry. This rising demand for premium products contributes positively to the revenue streams and profit margins of coffee producers, roasters, and retailers. Moreover, the growing popularity of convenient coffee formats—such as single-serve coffee pods and capsules—has brought significant transformation to the way consumers purchase and consume coffee.
The supply side of the market, particularly the availability and production of coffee beans, also plays a vital role in influencing market dynamics. A variety of external factors—such as weather patterns, natural disasters, plant diseases like coffee rust, and geopolitical tensions—can significantly affect the production volumes and prices of coffee.
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How big is the coffee market?
The global coffee market was valued at USD 483.91 billion in 2023 and is projected to reach USD 690.09 billion by 2030. This growth reflects the beverage's enduring popularity and its expanding consumer base worldwide. ?
What is the coffee market growth?
The market is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2030. This steady growth is driven by factors such as increasing disposable incomes, evolving consumer lifestyles, and the rising demand for coffee in emerging markets. ?