Posted 9/17/2023, 11:05:31 PM

Millennials and Internet Driving Instant Coffee Market Growth to $35 Billion by 2023, Despite Challenges

Global instant coffee market expected to grow significantly (CAGR of 5.11% in value and 2.88% in volume) thanks to millennials, reaching $35.97 billion by 2023.
Asia Pacific holds the largest market share due to fast-growing economies like China and India.
Growth driven by rising Internet usage and popularity among millennials.
Fluctuating raw material costs and threat of substitutes like tea are challenges.
Key players include Starbucks, Unilever, and Nestle.

foxbusiness.com

Relevant topic timeline:

9/12/2023

Espresso Market Set to Grow Nearly 6% Annually to 2027, Driven by Work-From-Home Culture and New Product Launches

The espresso coffee market is projected to experience significant growth in the next four years, reaching a value of $4.55 billion, driven by new product launches, increasing demand for espresso machines in workplaces, and the prevalence of espresso machines among consumers. However, fluctuating raw material prices and market fragmentation pose potential challenges to this growth. Europe is expected to contribute significantly to the expansion of the global espresso market.

9/15/2023

Starbucks Aims to Eliminate Disposable Cups by 2030, Faces Challenges in Changing Customer Habits and Supply Chain

Starbucks is aiming to eliminate disposable cups by 2030 as part of their sustainability goals, but the transition to reusable cups presents challenges for the company and the industry.

9/20/2023

Navigating the Complexities of the Global Coffee Industry - From Bean to Cup

Coffee is a multi-billion dollar global industry that is influenced by factors such as market trends, supply chain complexities, pricing dynamics, sustainability practices, consumer behavior, job creation, and future challenges. Understanding the economics of coffee allows us to appreciate the industry's intricacies and the livelihoods it supports, while also recognizing the need for adaptation to climate change and responsible consumer choices for the sector's longevity.