The global green coffee market size was valued at USD 34.03 billion in 2020. The market value is estimated to increase from USD 35.40 billion in 2021 to USD 47.22 billion by 2028 with a CAGR of 4.20% during the forecast period. The market is gaining momentum from the rising consumer awareness of various health benefits of the product among consumers. The product is also gaining popularity in nutraceutical products and dietary supplements. Fortune Business Insights presents this information in its report titled “Green Coffee Market, 2021-2028."
Green coffee has gained tremendous popularity across the world over the past few years. Its demand is increasing due to growing consumer inclination towards functional foods & beverages and plant-based dietary supplements. Specialty coffee varieties such as green coffee beans are attracting an enormous consumer base worldwide. With increased disposable incomes, consumers are increasingly spending on premium-quality food & beverage products. These factors will work in favor of the market expansion during the forecast timeline.
COVID-19 Impact:
Disruptions in Coffee Supply Chains amid COVID-19 to Impact Market Development
The global coffee sector experienced unprecedented supply chain disruptions amid the pandemic, with demand witnessing a significant drop during 2020. Supply chain uncertainty led to a rise in coffee prices in many regions. Consequently, coffee imports across various countries were hampered. The International Coffee Organization (ICO) reports that the composite indicator dropped below the USD 100 cents/lb. mark at the end of June 2020. However, increased health concerns among consumers amid the pandemic increased the product demand. U.S.
List of Key Players Profiled in the Report:
- The Hamburg Coffee Company (Germany)
- Neumann Kaffee Gruppe (Germany)
- Merchants of Green Coffee (U.S.)
- Belco S.A. (France)
- Starbucks Corporation (U.S.)
- Nordic Approach S.A. (Norway)
- Golden Bean Trade (Brazil)
- Atlantica Coffee (Brazil)
- Group MAGNUS BRAZIL-The Green Coffee Brazil (Brazil)
- WS Cafe (Vietnam)
Drivers & Restraints:
Growing Use in Nutraceuticals & Dietary Supplements to Boost Market Growth
The green coffee market growth is primarily driven by the increasing awareness towards the various health benefits of the product among consumers. Green coffee beans are a major source of chlorogenic acid, which is an antioxidant that can be absorbed in the body readily. High antioxidant content has thus increased the product popularity significantly. Studies have also shown that the beverage can aid weight loss. This factor is driving its adoption among obese and overweight individuals.
Attributed to the aforementioned health benefits, green coffee is being increasingly used in nutraceutical products and dietary supplements. Increased focus over healthy and immunity will thus help the market proliferate over the projected timeframe.
However, price volatility of green coffee beans could hamper the market growth to some extent.
Report Scope & Segmentation
Regional Insights:
Europe is expected to lead the global green coffee market share during 2021-2028. The region is witnessing a notable uptick in product adoption for further processing in instant coffee and roasted coffee products. Specialty coffee products are gaining popularity among health-conscious consumers across Germany, Spain, and Italy.
North America will witness growth owing to the thriving nutraceutical sector. The region is witnessing heavy usage of nutraceutical products and dietary supplements. Rise of the fitness sector and presence of major players such as Starbucks will drive the regional market forward.
Meanwhile, the market is Asia Pacific will record notable growth during the analysis period due to rising disposable incomes of consumers and increased spending on premium-quality coffee products.
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/green-coffee-market-106635
