The health benefits regarding coffee consumption, the rapid growth in demand for coffee, and the expansion of the retail market are expected to propel the coffee bean market.
PORTLAND, OR, UNITED STATES, September 17, 2021 /EINPresswire.com/ – The Global coffee bean market was pegged at $ 10.94 billion in 2018 and is expected to reach $ 15.64 billion by 2024, registering a CAGR of 6.1% from 2019 to 2024. The report also provides a detailed analysis of the major pockets of investment, drivers and opportunities, market size and estimates, top winning strategies, competitive landscape and faltering market trends.
The expansion of the retail market, rapid growth in coffee consumption, and the health benefits associated with coffee consumption have driven the growth of the global coffee bean market. However, the availability of substitutes such as tea is hampering the market. On the contrary, declining demand for soft drinks is expected to create lucrative opportunities in the near future.
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The global coffee beans market is divided on the basis of product, end use, and geography. On the basis of the product, the market is segmented into Arabica, Robusta and others. The Robusta segment is expected to register the fastest CAGR of 7.6% during the forecast period. However, the Arabica segment held the largest share in 2018, accounting for almost three-fifths of the market.
On the basis of end user, the market is categorized into personal care, food, and pharmaceuticals. The food segment dominated the market in 2018, accounting for more than two-fifths of the market. However, the pharmaceutical segment is expected to register the fastest CAGR of 6.9 during the study period.
The global coffee beans market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. It is estimated that the Asia-Pacific market will show the fastest CAGR of 7.6% until 2024. However, the Europe market in 2018 was more than a third of the market.
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Global Coffee Beans Market report provides in-depth analysis of major market players such as 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., Coffee Beans International, Inc. These market players have adopted several strategies such as partnerships, collaborations and new product launches to maintain their presence. on the market.
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