The coffee Beans market was valued at US$ 25,591.7 million in 2018 and is projected to reach US$ 41,962.4 million by 2027; it is expected to grow at a CAGR of 5.6% from 2019 to 2027.
The Insight Partners analysts forecasts the latest report on “Global Coffee Beans Market (Covid-19) Impact and Analysis by 2027”, according to report; The Coffee Beans Market report covers the overall and all-inclusive analysis of Market with all its factors that have an impact on market growth. This report is anchored on the thorough qualitative and quantitative assessment of the Coffee Beans Market.
The study provides details such as the market share, Market Insights, Strategic Insights, Segmentation and key players in the Coffee Beans Market.
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Key Players: Bharat Coffee Depot, Death Wish Coffee Company, Gold Coffee Company, Hawaiian Isles Kona Coffee Company, Ltd, Kicking Horse Whole Beans, IllycaffS.p.A Company, The Coffee Beans Co, Peets Coffee, Starbucks Coffee Company, Direct Coffee GmbH
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(Note: The report will be updated with COVID-19 impact analysis before delivery)
Increase in the Consumption of Coffee and Coffee Beverages:
Coffee is one of the most consumed beverages across the world. There is an upsurge in the popularity of coffee among the young population, especially in countries such as India, China, and Philippines, which fuels the demand for coffee beans. There are several leading motives for coffee consumption, such as functional, taste & pleasure, habit, tradition, culture, and socialization. The rise in the middle-class population and overall better standards of liv ing, contribute to the increase in demand for coffee and coffee beverages. The consumption of coffee has also grown significantly among office professionals. The opening and expansion of local coffee stores and new coffee stores is another factor propelling the demand for coffee, which in turn contributes to the growth of the coffee beans market. Additionally, an increase in consumption of milk, favors the market growth as consumers mix coffee in milk for better taste. The opportunity to linger and stay for a quality long time in coffee shops also attracts the attention of the consumers, which in turn increases the demand for coffee. Besides this, coffee shops act as an alternative to the library. Besides, drinking coffee is regarded as a kind of fashion and relaxed lifestyle for young people, which in turn leads to the upsurge in demand for coffee. Coffee beans are treated in different ways for the purpose of selling in various types’ coffee blends and are present in retail shops, grocery stores and online.
Impact of COVID-19 Pandemic on Coffee Beans Market
The COVID-19 pandemic began in Wuhan (China) in December 2019, and since then, it has spread around the globe at a fast pace. The outbreak has affected economies and industries due to imposed lockdowns, travel bans, and business shutdowns. Food and beverage is one of the world’s major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. This is further projected to lower the demand for coffee beans products globally.
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