Major players in the coffee and tea market include Nestle SA, Unilever plc, Suntory Holdings Limited, Ito Inn Ltd., Louis Dreyfus, Olam International, GM Smoker, Kerry Group plc, Kraft Heinz Corporation and Marubeni.
NEW YORK, July 15, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of “Coffee and Tea Global Market Report 2022” – https://www.reportlinker.com/p06284473/?utm_source=GNW
The global coffee and tea market is expected to grow from $100.78 billion in 2021 to $112.03 billion in 2022 at a compound annual growth rate (CAGR) of 11.2%. The market is expected to grow to $165.88 billion in 2026 with a compound annual growth rate (CAGR) of 10.3%.
The coffee and tea market consists of sales of coffee and tea by entities (organizations, sole traders and partnerships) that produce roasting coffee, blending tea and coffee, concentrated tea, herbal tea, coffee extracts, flavorings and juices. Companies involved in the coffee and tea industry process, package and distribute raw materials in coffee roasting, tea and coffee blending, tea concentrates, herbal teas, coffee extracts, flavorings and juices, and bottling and distribution through various distribution channels to both individual and commercial customers.
The main types of coffee and tea are coffee and tea, and coffee is a fermented beverage made from roasted coffee beans, the beans of some flowering plants in the genus Coffee, and the berries of some flowering plants in the genus Coffee.
The different packaging types include containers, sachets, packets or sachets and are available in different forms such as liquid, powder or capsules. It is distributed through various channels including supermarkets/supermarkets, convenience stores, e-commerce and others.
Asia Pacific was the largest region in the coffee and tea market in 2021, and Western Europe was the second largest in the coffee and tea market.
The regions covered in this report include Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Increased demand for ready-to-drink (RTD) beverages is expected to drive the market for coffee and tea in the forecast period, which is a packaged, single-use beverage that is ready for immediate consumption at the time of purchase.
RTD drinks are gaining popularity among working adults due to their clean labels and functionality, and the introduction of new flavors into the RTD tea and coffee range, portability and convenience is expected to increase the demand for RTD tea and coffee.
Global tea and coffee volume is expected to reach $116.1 billion by 2024 at a compound annual growth rate of 5.6%, while global consumption of RTD tea alone reached 50 billion liters in 2021 at a compound annual growth rate of 5.3%. Increased demand for RTD beverages, including RTD coffee and tea, is expected to drive the coffee and tea market forward.
The coronavirus disease (COVID-19) outbreak was a major constraint on the coffee and tea manufacturing market in 2020 as supply chains were disrupted by trade restrictions and consumption slumped due to government-imposed lockdowns globally. An infectious disease with flu-like symptoms including fever, cough and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei Province, People’s Republic of China, and has spread globally to including Western Europe, North America and Asia, and food and beverage manufacturers rely on supplying raw materials from domestic and international suppliers.
As many governments restricted the movement of goods across countries and locally, manufacturers were forced to halt production due to a shortage of raw materials, restrictions on trade in non-essential goods and fear of contamination through manufacturing facilities also contributed to the decline.
The outbreak had a negative impact on business throughout 2020 and into 2021. However, the coffee and tea manufacturing market is expected to recover from the shock during the forecast period as it has “black swan event” vulnerabilities in the market or the global economy.
Coffee companies are increasingly offering subscription coffee services to consumers, where subscription coffee services provide home delivery of coffee products to consumers for a subscription fee that is charged on a weekly or monthly basis.
The subscription service offers a number of advantages to consumers, it allows consumers to sample products from much more specialized roasters than is possible even in the most coffee-saturated regions.
Some services can ship products from hundreds of different roasters, and it’s also the best way to ensure freshness since most shipments take place immediately after roasting eliminating the time grains would otherwise spend on store shelves.
Popular coffee subscription services include Atlas Coffee Club, Driftaway Coffee, Blue Bottle Coffee, JavaPress Coffee, Mistobox, Bean Box, Craft Coffee and Pact Coffee.
The countries included in the coffee and tea market are Argentina; Australia ; Austria ; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark ; Egypt; Finland; France; Germany; Hong Kong. India; Indonesia; Ireland; Israel; Italia; Japan; Malaysia ; Mexico; Holland; New Zealand; Nigeria; Norway; Peru; Filipino; Poland; Portugal; Romania; Russia; Kingdom Saudi Arabia; Singapore ; South Africa; South Korea; Spain; Sweden; Switzerland ; Thailand; turkey; The United Arab Emirates; United kingdom; United States of America; Venezuela; Vietnam.
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