Coffee beans are coffee seeds used to make various coffee drinks. Although they are seeds, they are known as beans because of their identical appearance to beans. There are two main types of coffee beans, arabica and robusta, which are predominant in the industry. Brazil is the largest producer of arabica beans, while Vietnam is the largest producer of robusta beans. Arabica beans are easy to grow and can be easily roasted. Thus, they are produced in huge volumes in the coffee bean industry. On the other hand, robusta is gaining in importance due to its three times higher caffeine content and resistance to insects and diseases compared to arabica. In addition to providing antioxidants and energy, coffee beans reduce the risk of diabetes and Parkinson’s disease. Coffee consumption is increasing all over the world. According to the recent Allied Market Research report, the global coffee bean market is expected to reach $ 15.63 billion by 2024, registering a CAGR of 6.1% from 2018 to 2024.
The report segments the market on the basis of product, end use, and geography. As mentioned earlier, arabica and robusta are two main types of coffee beans. Additionally, coffee beans have been used in the food, pharmaceutical, and personal care industries. Skin care products made from coffee beans are growing in popularity. Additionally, coffee beans contain fatty acids that can be used in spa treatments and in the production of balms. The use of coffee beans is gaining ground in the pharmaceutical industry due to its health benefits. Geographically, the market is divided into North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region is gaining momentum in terms of consumption. India and China are expected to register huge growth over the next few years.
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The global coffee bean market is driven by the increase in coffee consumption in various countries, the expansion of the retail sector and the health benefits of coffee. In addition, a decrease in the consumption of soft drinks would fuel the growth of the market. On the other hand, the availability of substitutes including tea is expected to hamper the growth of the market in the future. Research initiatives such as recycling coffee bean waste would present new opportunities in the industry.
Roadchef, a motorway service operator, has partnered with bio-bean, a company that recycles coffee beans into biofuel, to reduce the environmental impact. Used coffee beans will be collected at 28 Roadchef sites by a resource recovery company Olleco. They will be transported to the bio-bean factory in Cambridgeshire. At the factory, they will be dried, recycled and turned into useful products. Roadchef has predicted that there are around 7 million cups of coffee at each site each year. The company and biobean expected that nearly 200 tonnes of coffee grounds would be collected from the sites by the end of 2018 and disposed of in the landfill.
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Major market players operating in the global Coffee Beans market would adopt various strategies to gain significant market share in the industry. The coffee bean and the tea leafÂ®, the world’s largest roaster and specialty coffee retailer, has expanded its cold brew coffee offering for the summer. Classic Vietnamese Cold Brew coffee along with some seasonal flavors of Cold Brew Tea will be available until August 26. Cold Brew coffee has gained immense popularity due to its smoothness and less sour taste.
Major market players have implemented different strategies to stand out. Other key players include Death Wish Coffee, Kicking Horse Whole Beans, Caribou Coffee, La Colombe Corsica Blend, Illycaff SpA, Luigi Lavazza SPA, La Colombe Torrefaction, INC., Hawaiian Isles Kona Coffee Company, Ltd., Peets Coffee & Tea, Inc., and Coffee Beans International, Inc.
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