According
to a new research study by Transparency Market Research (TMR), the
global
instant coffee market demonstrates a highly consolidated
competitive landscape. In 2016, the top five players, namely, Nestlé
S.A., Starbucks Corp., Jacobs Douwe Egberts, Unilever Plc., and Tata
Global Beverages, collectively accounted for more than 90% of the
overall market.
Over
the coming years, the market is likely to witness a substantial
increase in the rivalry between the leading participants, fueled by
their rising involvement into mergers, acquisitions, and partnerships
for their geographical expansion and better visibility, states the
report.
As
per TMR’s estimations, the overall opportunity in the global market
for instant coffee was worth US$28.12 bn in 2016. Rising at a CAGR of
4.80% during the period from 2017 to 2025, the market is likely to
reach US$42.5 bn by the end of the forecast period. Retail stores are
the most preferred distribution channel for the sales of instant
coffee and are expected to continue like this over the forthcoming
years.
Increase
in Preference of Consumers for Instant Coffee to Ensure Asia
Pacific’s Lead
The
research report also provides a comprehensive study of the
geographical spread of the worldwide market for instant coffee. Latin
America, North America, Asia Pacific, the Middle East and Africa,
Western Europe, and the Rest of the Europe have been considered as
the key geographical segments of this market in this study. In 2016,
Asia Pacific dominated the global market with a share of nearly 36%.
Analysts expect this regional market to remain on top throughout the
forecast period, thanks to the increasing preference of consumers for
instant coffee, especially in China and India.
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The
demand for instant coffee in the Rest of Europe is also increasing at
a steady rate. Especially in Poland, Russia, and Bulgaria, the rate
of demand is quite high and is projected to keep on increasing in the
near future. Amongst others, North America, on account of a higher
preference for filter coffee, is likely to experience sluggish growth
in its market for instant coffee over the next few years. The Middle
East and Africa, on the other hand, will show a healthy progress in
the uptake of instant coffee, upgrading its market in the years to
come, notes the research study.
Changing
Lifestyle of Consumers to Influence Demand for Instant Coffee
“The
changing lifestyle of consumers, especially younger ones vigorously
conforming .o western culture, is having a significant impact on the
uptake of instant coffee, reflecting greatly on its sales,” states
the author of this research study. The shift in consumer preference
from tea to coffee, particularly in emerging economies, such as
India, China, Ukraine, and several Middle Eastern countries is,
consequently, boosting the market for instant coffee considerably
across the world.
Consumers,
nowadays, are ever busy with their fast-paced lives and are seeking
beverages that can be prepared easily in less time with no fuss.
Instant coffee provides these comforts to consumers without being
tough on pockets. This, as a result, has led to a rocketing demand
for instant coffee across the world and the scenario is not expected
to change anytime soon in the future.
Apart
from this, the rise in awareness level pertaining to the harmful
effects of aerated drinks is projected to fuel the consumption of
instant coffee over the forthcoming years. However, the growing
concerns regarding the usage of acrylamide in instant coffee, which
is injurious to human health is anticipated to hamper the growth of
this market in the years to come.
The
study presented here is based on a report by Transparency Market
Research (TMR), titled “Instant Coffee Market (Distribution Channel
- B2B (Hotels and Restaurants) and Retail (Online and Offline);
Packaging Type - Jars and Sachets) - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2017 - 2025.”
The
global instant coffee market can be segmented as follows:
By
Distribution Channel
B2B
- Hotel
- Restaurant
- Others
Retail
- Online
- Offline
- Departmental Stores
- Hyper and Super Market
- Others
By
Packaging Type
- Jars
- Sachets
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