Global Green Coffee Market to Grow at a CAGR of 6.4% during Forecast Period
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global green coffee market is expected to grow at a CAGR of 6.4% from 2022-2028 (forecast period).
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global green coffee market is expected to grow at a CAGR of 6.4% from 2022-2028 (forecast period). Global green coffee market is booming because of the increasing interest in plant-based dietary supplements, functional meals and beverages. The market will expand as a result of rising demand for specialty coffee in both developing and developed countries.
The growing demand for specialty coffee is a major factor in the industry's projected rapid expansion
Modern shoppers have no problem shelling out more cash for a product that has been improved upon in terms of quality and has a flavor profile that appeals to them. Consumers are warming up to specialty coffee as more and more of it becomes available from unique regions and with unique flavors. There are a few key differences between normal and specialty coffees, the most notable being the fact that specialty coffees are produced at higher altitudes and undergo more stringent processing following harvest. The growing interest in coffees that are better for you and have traceable origins is also contributing to the industry's success. Millennials are becoming interested in specialty coffee because they see it as a high-value, high-quality alternative to mainstream coffee.
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The growing demand for nutraceuticals and nutritional supplements is expected to fuel industry expansion
In the recent past, there has been a widespread trend in consumer purchasing behavior toward the selection of nutritious product types that increase overall physical wellness. This trend is expected to continue in the near future. As a result of the safer options that they provide, consumers are showing a growing interest in the functional food components that are available. The modern consumer lifestyle is largely to blame for the alarmingly high rates of obesity, diabetes, and cardiovascular disease that are being seen in today's society. In recent years, there has been a rise in the amount of interest shown by customers in nutraceuticals and other kinds of health supplements.
Plant extracts with active components have grown more common in dietary supplements in recent years due to their widespread acceptance as a healthier and safer alternative. Powdered and liquid green coffee bean extracts are increasingly commonplace in the world of nutraceuticals. In grocery stores across Europe and North America, one can hardly find a shelf without seeing a functional beverage containing one of these extracts. Green coffee sales are expected to rise in the coming years as a result of rising health concerns during and after the pandemic.
Global Green Coffee Market - By End User
On the basis of end user, the market is divided into general public, patients of blood pressure and heart and others. Out of which patients of blood pressure and heart consumes green coffee often as green coffee helps control high blood pressure in those who have hypertension. Lower cholesterol levels allow for continuous, unimpeded blood flow, while increases in body fat impair the ability of the heart to pump blood efficiently. Since green coffee bean consumption has been shown to lower blood pressure, its use seems to be mutually beneficial.
Global green coffee market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa based on geographic regions. The need for plant-based nutraceuticals and other dietary supplements has led to rapid growth in this industry in North America. Green coffee bean extract, which is used to make fortified and functional meals and beverages, is witnessing a boom in popularity in the health and fitness sector. The rising demand for raw coffee beans is a direct result of the region's penchant for brewed ground coffee rather than its unprocessed form.
Impact of COVID-19 on Global Green Coffee Market
The COVID-19 epidemic has shifted supply and demand in the global coffee business. Since March 2020, when WHO designated COVID-19 a global pandemic, coffee prices have been highly volatile (WHO). When prices spiked, it foreshadowed rising coffee demand, which affected many importers. Coffee prices have since fallen. End of June 2020, the ICO composite index fell below USD 100/lb. COVID-19 poses a huge challenge to the worldwide coffee industry, which has been battling with low pricing. Coffee bean extract's health benefits are gaining popularity. The market for health-enhancing dietary supplements and nutraceuticals is predicted to grow in the next years.
Peet’s Coffee, Starbucks Coffee Company, Keurig Green Mountain Inc., Nestlé S.A., The Procter & Gamble Company, Tchibo, Louis Dreyfus Company, Hamburg Harbor Coffee Co., Merchants of Green Coffee Inc., and others are key participants in the Global Green Coffee industry. Recent company activities like the introduction of new solutions/products, the start of research initiatives, acquisitions, growth into new territories, and the development of cutting-edge technologies are considered when assessing market player positioning.
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