The out-of-home coffee market is estimated at US$ 23.2 Billion in 2022 and is projected to reach US$ 36 Billion by 2032, at a CAGR of 4.5% from 2022 to 2032. Future Market Insights projects the out-of-home coffee market to remain steady, exhibiting growth at 4.5% CAGR between 2022 and 2032 in comparison to the CAGR of 3.3% posted between 2017 and 2021.
The expanding popularity of branded coffee shops, along with increased consumer purchasing capacity, is creating new opportunities for the coffee industry. The increasing adoption of global coffee brands, Western culture, and exposure to other cultures are the primary drivers of coffee chain growth, particularly in the Asia-Pacific region.
Coffee shops are becoming increasingly popular places to hang out with friends, colleagues, and family. Furthermore, casual business meetings in coffee shops are expected to increase demand for out-of-home coffee in the coming years. As a result, coffee chains have seen tremendous development in recent years. The increasing popularity of coffee culture can be ascribed to the opening of new coffee shops by corporations such as Starbucks Corporation, Coffee Day Enterprises Ltd, and Barista Coffee Co. Ltd., which contribute to total market growth.
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Key Takeaways from the Market Study
- Europe is expected to dominate the global market by accounting for the maximum market value share of about 25% by 2022 end, followed by North America
- U.S. is to account for the maximum market share of nearly 78% of the North American out-of-home coffee market
- Rising coffee culture over tea consumption among youths in different regions across the globe is predicted to result in surging demand during the assessment period (2022–2032)
- By product type, instant coffee is expected to account for the maximum market value share of the global market by 2022 end
- Higher income groups and working population has an increased spending capacity which is likely to increase the demand for premium coffee brands of out-of-home coffee in the near future
- Indirect channel is expected to account for a higher market value share than direct channel by 2032 end
Coffee with low caffeine content helps in building the metabolism and improve the functioning of the brain. Owing to these factors, consumers are preferring coffee over tea. Furthermore, increased spending capacity of working population have convinced them to switch to premium coffee brands which is expected to fuel the out-of-home coffee market growth over the forecast period (2022–2032).
In addition, the covid-19 pandemic has had a significant impact on the market because to supply chain disruptions caused by global lockdowns. Exports and imports of coffee beans were impeded, resulting in decreased revenue for various firms. Almost all offices, restaurants, and coffee shops were ordered to close during lockdown, stifling the expansion of the out-of-home coffee industry.
However, as the restrictions have been relaxed, market actors have begun to accelerate their efforts to attain a better position in the market by meeting their consumers’ demands and increasing brand loyalty. This is projected to have a beneficial impact on market growth during the next years.
“Increasing consumption of instant coffee has resulted in the installation of coffee machines at commercial places such as offices or communities where consumers have all-time access to drink coffee with varied flavors which is prophesied to increase the demand for out-of-home coffee in the coming decade”, –Nandini Roy Choudhury, Client Partner at Future Market Insights
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Competitive Landscape
Key market participants are following different marketing and promotional strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to address the needs of the consumers and serve accordingly, thus, creating a larger customer base in the coming years. For instance,
- In 2020, a company named Tchibo introduced ground and whole bean coffee products with a light, medium, and dark roasted beans, particularly in the United States. These products were widely available at retailers like Jewel and Hy-Vee in the regional market.
- Many manufacturers have started introducing new and innovative products by adding different flavors such as Italian roast, green bean, and mocha to attract a larger audience.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global out-of-home coffee market, presenting historical data (2017–2021) and estimation statistics for the forecast period of 2022–2032.
The study offers compelling insights based on product type (instant coffee, portioned coffee and roasted coffee), end use (HoReCa and commercial/office), and distribution channel (direct and indirect) across seven (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa) major regions of the world.
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