Espresso Coffee Market Size to grow by USD 4559.96 million between 2023-2027
According to a research report “ Espresso Coffee Market” by End-user (Home and offices, Coffee shops, others) Type (Latte, Mocha, Double espresso, Pure espresso, Others) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 4559.96 million, at a CAGR of 5.84% during the forecast period. The global espresso coffee market is experiencing significant growth due in part to the continuous introduction of innovative new products by key players. Notable launches include Nestle SA's convenient espresso, launched in April 2021, which offers three shots of espresso blended with real milk and contains added vitamins B and D. In September 2020, Luigi Lavazza S.p.A. unveiled the EXPERT System, a versatile coffee system delivering authentic Italian espresso, fresh milk espresso-based beverages, and drip-style coffee, expanding their product offerings in the US market. These strategic new product launches contribute substantially to the revenue growth of vendors in the espresso coffee industry..
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By End-user, the Home and offices segment is projected to dominate the market size in 2024
The espresso coffee market is experiencing significant growth, particularly in the sectors of home and office consumption. The demand for espresso coffee in offices is escalating due to its ability to provide an instant energy boost, making it an ideal beverage choice for employees during long working hours. Many corporate offices have integrated espresso coffee vending machines into their pantries to cater to their employees' preferences. The COVID-19 pandemic and the subsequent work-from-home culture have led to a surge in espresso coffee consumption at home, as indicated by the increasing sales of home espresso machines. This trend is expected to continue during the forecast period.
By Type, Latte segment is expected to hold the largest market size for the year 2024
The pure espresso segment is poised for substantial revenue growth in the global espresso coffee market, surpassing segments like double espresso, latte, and mocha. This trend is driven by the burgeoning preference for premium coffee among consumers, primarily in the foodservice industry, including restaurants, hotels, and offices. Pure espresso, characterized by its intensely aromatic and rich coffee flavor, is skillfully crafted from dehydrated Brazilian espresso beans. Its consumption offers numerous benefits, such as enhancing concentration and boosting long-term memory. These factors are anticipated to propel the expansion of the pure espresso segment in the global espresso coffee market throughout the forecast period.
Europe is forecasted to hold the largest market size by region in 2024
The European espresso coffee market has experienced consistent expansion over the past five years, driven by a moderate concentration of regional and global vendors. Key players in this market include Nestle SA, Unilever PLC, and Starbucks Corp. Major European markets, such as the UK, Russia, Germany, the Netherlands, and France, exhibit promising growth prospects for espresso coffee vendors. Factors fueling this growth include increasing disposable income in Eastern Europe, the proliferation of organized retailing outlets, and the burgeoning cafe culture in the region. These trends are expected to continue driving the growth of the European espresso coffee market throughout the forecast period.
The Espresso Coffee Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Espresso coffee market is a thriving industry that caters to the demands of students, employees, and coffee lovers worldwide. The production of high-quality espresso involves the use of Synthetic fertilizers and Preservatives to enhance the growth and shelf life of Arabica and Robusta beans. The beans are roasted to perfection and transformed into various coffee beverages such as Café Americano, Macchiato, Mocha, Latte, Cappuccino, Ristretto, Double Espresso, and Pure Espresso. Cafés and Franchise retailers dominate the market, providing coffee shots to customers in Home and Office settings, as well as in Commercial spaces like Airports, Hospitals, and Cafes. With the increasing trend towards a Healthy lifestyle, there is a growing preference for fresh, organic, and ethically sourced coffee. The Store-based segment continues to lead the market, but the Non-store segment, including online sales and vending machines, is gaining popularity. Employees and students are the primary consumers of coffee, making the market highly competitive. The espresso coffee market offers a wide range of beverages to cater to diverse tastes and preferences, ensuring customer satisfaction and loyalty.
Market Research Overview
The Espresso coffee market has seen significant growth in recent years, particularly among city dwellers and urban millennials. However, this trend comes with health concerns as Western lifestyle habits, such as consuming muffins, cookies, cakes, and coffee flavored beverages, contribute to cardiovascular problems, obesity, and other health issues. Corporate cafeterias and coffee shops serve as popular venues for employees and students to grab a quick caffeine fix. However, these drinks often contain artificial flavors, pesticides, synthetic fertilizers, and preservatives, which can negatively impact the immune system and lead to inflammation, diabetes, stroke, and heart disease. Despite these risks, personal disposable income allows individuals to continue purchasing coffee and novel products like Earl grey teas, coffee shots, and flavored products. Coffee manufacturers and franchise retailers offer a wide range of options, including light, medium, and dark roasts of Arabica, Robusta, and Liberica beans. Cafés, coffee shops, restaurants, hotels, office cafeterias, airports, hospitals, and commercial spaces serve as key channels for coffee sales. However, consumers are increasingly seeking healthier options, such as natural oils, antioxidants, and minerals found in coffee. E-commerce, convenience stores, hypermarkets, supermarkets, and specialty stores also contribute to the market's growth. Coffee lovers can now enjoy their favorite brew at home or in the office with long shelf life, higher nutritional value, and a variety of brewing methods, including espresso, Americano, macchiato, and cappuccino. However, excessive caffeine intake can lead to addiction, upset stomach, anxiety, insomnia, and dental problems. As such, it's essential to maintain a healthy lifestyle and consume coffee in moderation. Additionally, consumers should be aware of the sugar content in flavored products and opt for natural sweeteners instead.
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