Coffee has been an integral part of people’s daily routines. Over time, people began experimenting with it, leading to more variants and caffeine-associated products. One such product is coffee concentrate, which has seen staggering growth in recent years. The coffee concentrate market valuation is pegged at US US$ 2.90 billion in 2024 and is expected to reach US US$ 5.10 billion by the end of 2034.
The sale of coffee concentrate has also touched the skies as artisanal cafes and customized coffee products have gained immense traction in Asian countries like Japan and China. In the United States, the market is growing due to the premiumization of coffee concentrates and rising disposable income among its population.
The coffee concentrate market is poised to grow at a modest CAGR of 5.80% through 2034. With the growing coffee culture and the expansion of the e-commerce sector in developed countries, this number is expected to grow further.
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Key Takeaways from the Market Study
- The caffeinated segment dominates the coffee concentrate market with an expected share of 63% in 2024.
- Based on the distribution channel, the retail segment leads the market with an anticipated share of 71% in 2024.
- The coffee concentrate market in South Korea is anticipated to grow at a CAGR of 8.00% through 2034.
- The coffee concentrate market in the United States is estimated to rise at 6.10% CAGR through 2034.
- The coffee concentrate market in Japan has the potential to increase at 7.60% CAGR through 2034.
- The United Kingdom coffee concentrate market is predicted to rise by 7.00% CAGR through 2034.
“The advent of artisanal coffee centers has increased the sale of coffee concentrate in developing and developed parts of the world. Companies involved in this market must collaborate with popular coffee chains to reach a wider consumer base”, opines an FMI analyst.
Competitive Landscape
The coffee concentrate market is highly competitive with numerous established companies.
- Key players in the market leverage social media influencers to effectively market their products to millions of virtual followers.
- Effective campaigns and marketing strategies have helped these companies to penetrate both developed and developing countries.
- Prominent companies in the market include Starbucks, Nestlé, Keurig Dr Pepper, Stōk, Califia Farms, La Colombe Coffee Roasters, and Chameleon Cold-Brew.
Recent Developments:
- In January 2024, Torr Industries launched the Hive Cafe, brewing espresso-like concentrate alongside cold brew for a smooth coffee experience.
- In August 2023, Tim Hortons introduced its Cold Brew Concentrate with four flavors, offering eight servings each.
- In August 2023, Onyx Coffee Lab unveiled “Extractions,” a groundbreaking coffee concentrate boasting full flavor and convenience.
- In June 2023, Monin unveiled its Maple Pumpkin Cold Brew Coffee Concentrate, a seasonal favorite with pumpkin spice and rich maple syrup.
- In July 2023, Will & Co launched its Coffee Concentrate crafted from specialty beans, offering versatility for creating various drinks at home.
- In December 2022, Dunkin’ announced the upcoming release of cold brew concentrates for spring 2023 to capitalize on iced coffee’s popularity.
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Key Segments of the Coffee Concentrate Industry
By Type:
- Caffeinated
- Decaffeinated
By Distribution Channel:
- HoReCa
- Retail
- Supermarkets/Hypermarkets
- Specialty Stores
- Convenience Store
- Online Retail
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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