The Coffee Extract market was valued at USD 2.45 billion in 2022! (2024)
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The global coffee market size was estimated at USD 461.25 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. The global demand for coffee is a significant driver of the market.
Highlights include: The total economic impact of the coffee industry in the United States in 2022 was $343.2 billion, a 52.4% increase from 2015. Consumers spent nearly $110 billion on coffee in 2022. The coffee industry is responsible for more than 2.2 million U.S. jobs and generates more than $100 billion in wages.
World coffee production decreased by 1.4% to 168.5 million bags in coffee year 2021/22, hampered by the off biennial production and negative meteorological conditions in number of key origins, however it is expected to bounce back by 1.7% to 171.3 million bags in 2022/23.
The global Coffee market size was valued at USD 92.7 Billion in 2023. It is projected to reach USD 145.6 Billion by 2032, growing at a CAGR of 5.4% during the forecast period (2024–2032).
India Coffee Market was valued at USD 478 Million in 2022 and is expected to reach USD 1,227.47 Million by 2032 at a CAGR of 9.87% during the forecast period 2024-2033. Coffee is an important plantation crop in India and has high export potential. The Western Ghats in India is the major hub of coffee cultivation.
The comforting aroma of freshly brewed coffee might soon be accompanied by concerns over rising prices, as 2023 unfolds amidst a global storm of economic pressures. In 2022, coffee prices took a sharp upward turn due to shortages in Brazil caused by adverse weather conditions.
The ground coffee segment of the market studied was valued at USD 41.24 billion in 2022, and it is projected to reach USD 58.35 billion by 2030, registering a CAGR of 2.31% during the forecast period, 2023-2030. Instant Coffee segment is also expected to witness significant growth in the near future.
Coffee is commercially produced in more than 50 countries and the world drinks over 3 billion cups a day. Coffee producing countries export the bulk of their produce, earning around $20 billion in exports a year. The annual revenue of the global coffee industry is estimated to exceed $200 billion.
The global coffee market, which was valued at approximately USD 102.15 Billion in 2019, and is expected to reach revenue worth USD 155.64 Billion by 2026, is set to record the CAGR of nearly 6.2% over the period from 2020 to 2026.
Situated in South America, Brazil is the top producer of coffee. They produce 2,68 million metric tons of coffee on average every year. Brazil has also held onto its first-place position as the world's largest coffee producer for over 150 years. Brazil's climate is perfect for growing Robusta and Arabica coffee beans.
Coffee is one of Brazil's biggest exports, and the Arabica variety makes up most of the exported beans, up to 70%. These days Vietnam is the second largest producer of coffee in the world.
In 2022, Top exporters of Coffee, not roasted or decaffeinated are Brazil ($8,514,137.39K ), Colombia ($3,962,319.64K , 624,808,000 Kg), Vietnam ($2,822,756.07K , 1,352,900,000 Kg), Ethiopia(excludes Eritrea) ($1,508,121.31K , 272,936,000 Kg), Peru ($1,187,047.29K , 236,936,000 Kg).
The US Coffee Market size is estimated at USD 28.06 billion in 2024, and is expected to reach USD 33.64 billion by 2029, growing at a CAGR of 3.69% during the forecast period (2024-2029).
According to annual per capita coffee consumption, Finland ranks first, with each person consuming 9.6 kilograms of coffee per year, averaging 3-4 cups of coffee per day. Following closely behind are Norway (7.2 kilograms), the Netherlands (6.7 kilograms), Sweden (6.5 kilograms), and Slovenia (6.1 kilograms).
The US Coffee Market size is estimated at USD 28.06 billion in 2024, and is expected to reach USD 33.64 billion by 2029, growing at a CAGR of 3.69% during the forecast period (2024-2029).
The value of the global coffee market is an estimated $102 billion, while the UK coffee shop market has an estimated value of £10.1 billion. Coffee supply chains are often complex, with beans sometimes changing hands dozens of times on the journey from grower to consumer.
Interactive chart of historical daily coffee prices back to 1969. The price shown is in U.S. Dollars per pound. The current price of coffee as of August 02, 2024 is $2.2995 per pound.
Global Specialty coffee Market size was valued at USD 21.90 Billion in 2022 and is poised to grow from USD 24.37 Billion in 2023 to USD 57.40 Billion by 2031, at a CAGR of 11.3% during the forecast period (2024-2031).
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