Instant Coffee Market Analysis, Growth Rate, Overview, Market Segmentation and Forecast By 2023
Instant Coffee Market | Comprehensive Research Reports, Emerging Growth Factors, Size, Share and Global Industry Analysis By Market Research Future. Instant coffee has a significant appeal among consumers, especially the youth, as it is inexpensive, fast, and easy to prepare. The number of coffee consumers has increased considerably across the globe, which has prompted coffee producers to introduce new variants in the market to stay competitive. The rising demand for decaffeinated instant coffee is propelling market players to introduce such products.
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Some of the key players in the global instant coffee market are Nestlé SA (Switzerland), Starbucks Corporation (US), Jacobs Douwe Egberts BV (Netherlands), Strauss Group Ltd (Israel), Matthew Algie & Company Ltd (Scotland), Kraft Foods Group, Inc. (US), Tata Global Beverages Ltd (India), Tchibo Coffee International Ltd (US), Unilever Plc (UK), and Keurig Dr Pepper (US).
The global Instant Coffee Market has been segmented based on category, type, distribution channel, and region.
Based on category, the global instant coffee market has been segmented into traditional and decaffeinated. The traditional instant coffee segment gained the higher market share in 2018 owing to the high sales volume among retail consumers. However, the decaffeinated segment is expected to register the higher growth rate owing to shifting consumer preferences for coffee with a low caffeine content.
By type, the global instant coffee market has been divided into freeze-dried and spray-dried. The spray-dried segment is expected to be larger during the forecast period because of the growing demand for the powdery texture of spray-dried instant coffee, which enables quick dissolution in hot water or milk. However, the freeze-dried segment is expected to register the higher growth rate during the forecast period. This can be attributed to the better retention of aroma and flavor of freeze-dried instant coffee as compared to spray-dried instant coffee.
Based on distribution channel, the global instant coffee market has been classified as store-based and non-store-based. The store-based segment has further been segregated into supermarkets and hypermarkets, convenience stores, and others. The store-based distribution channel segment dominated the global instant coffee market in 2018. The growing retail industry and opening of numerous retail outlets globally are driving sales through this channel. The presence of numerous options is also propelling the growth of the segment as stores present multiple options for consumers. However, the non-store-based segment is projected to register a higher CAGR during the forecast period due to the growing use of e-retail channels for instant coffee sales.
The global instant coffee market has been regionally segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Europe is expected to account for the largest revenue share of the global instant coffee market due to the increasing consumption of instant coffee in the region. North America is also expected to capture a significant share of the global market. However, the regional market growth is likely to be hindered by consumer preference for freshly brewed coffee over instant coffee. The market in Asia-Pacific is expected to register the highest growth rate during the forecast period as market players are expanding operations in the region.