Technavio market research analysts forecast the global organic coffee market to grow at a CAGR of close to 13% during the forecast period, according to their latest report.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170712006258/en/
Technavio has published a new report on the global organic coffee market from 2017-2021. (Graphic: Business Wire)
The market study covers the present scenario and growth prospects of the global organic coffeemarket for 2017-2021. The report also lists fresh and roast and ground as the two major product segments, of which the fresh organic coffee segment accounted for more than 61% of the market share in 2016.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free
Technavio analysts highlight the following three market drivers that are contributing to the growth of the global organic coffee market:
- Rising popularity of coffee among millennials
- Growing number of cafés globally
- Expansion in the retail landscape
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Rising popularity of coffee among millennials
Rising affluence and changing consumer choices have been fueling the demand for high-quality and specialized coffee products, such as coffee with different flavors and aromas, among the young population base. An improved economy and increased job opportunities have made different types of coffee affordable to younger consumers. Compared to other demographic segments, millennials are more likely to spend on premium beverage brands.
"Rising health consciousness is influencing consumers to shift toward a healthy lifestyle. Organic coffee is perceived to be of better quality in comparison to regular coffee as it does not contain any toxic residue of synthetic fertilizers, herbicides, pesticides, artificial flavors or colors, and preservatives. Hence, the demand for organic coffee is increasing," says Manjunath Reddy, a lead analyst at Technavio for food research.
Growing number of cafés globally
Café culture and the trend of socializing at cafés has become quite popular among the urban youth population. The increased influx of people to urban areas and a substantial white-collar demographic is fueling the increase in the number of foodservice outlets. Varied tastes and preferences for different types of fresh coffee have given rise to several coffee shops, specialty coffee shops, and quick-service restaurants (QSRs).
With the growth in the number of coffee-themed restaurants, coffee manufacturers will receive several branding opportunities. Coffee-themed restaurants offer premium coffee products to consumers, causing them to seek these premium products at retail stores. Leading café chains such as Starbucks, Costa, and Barista are opening their outlets in the emerging economies. The growing popularity of malls and shopping centers has also induced players to invest substantially in the distribution of coffee through these establishments. In FY 2016, Costa a leading coffee chain in the UK opened 255 new stores worldwide.
Expansion in the retail landscape
Across the globe, the organized retail sector is expanding significantly with the establishment of supermarkets, hypermarkets, and specialty stores. Organic coffee products are primarily sold by large organized retailers.
In addition to the growth in the organized retail sector, the expansion in the online retail sector is also driving the global organic coffee market. Europe, the UK, Germany, and France exhibit significant potential for the growth of organic coffee products through the online retail sector due to growing preference of customers to shop online. Most customers now prefer to shop online primarily owing to the convenience factor. Also, with improved security features for payment, consumers do not hesitate to make online transactions for their purchases.
"Online shopping offers efficient customer service and customer-friendly website designs that offer enhanced product visibility. This trend along with the high internet penetration rate in developing countries has been encouraging manufacturers to shift their focus toward the internet-savvy customer segment and venture into the online retail format," says Manjunath.
Browse Related Reports:
- Global Vinegar Market 2017-2021
- Global Duck Meat Market 2017-2021
- Global Meat Snacks Market 2017-2021
About Technavio
Technaviois a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170712006258/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
