Global market research company Euromonitor International released today a new study, Five Most Promising Markets in Coffee, identifying opportunities in both under-exploited and mature coffee markets.
The new research provides a global overview of the coffee market and identifies Brazil, USA, Indonesia, Germany and Japan as the five markets with greatest potential.
After surpassing the USA in 2014, Brazil became the largest coffee market in the world, representing 15 percent of global coffee sales in total volume. The country has shown steady growth during the economic recession, posting growth rate above the global average. While fresh ground coffee still dominates the market, the future of coffee in Brazil relies on new coffee types, such as beans and pods.
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The US presents a mature coffee market with growth rates below the global average in total volume sales. Despite ongoing concerns about sustainability, price and quality, coffee pods surpassed coffee beans and have become the second most prominent coffee format. The future of US coffee relies on premium and convenient offerings, while coffee shops and specialized stores are key drivers for this market.
With total volume sales reaching 735 thousand tonnes in 2018, coffee in Indonesia becomes increasingly relevant to consumers who seek to reproduce at home the foodservice experience. Growing urbanisation and more demanding lifestyles are driving consumers to opt for convenient products, and in coffee this is translating into higher demand for instant coffee mixes.
While one coffee format tends to dominate in the other four countries, coffee consumption in Germany is well proportioned, presenting opportunities for innovation and new brands. Sustainability and traceability, however, are more important factors in the purchasing decision as German consumers show interest in the entire coffee production and in having responsible consumption.
Coffee consumption is expected to be twice as large as tea consumption in Japan by 2022. Coffee beans is the most prominent format, representing 32 percent of total volume sales in 2018. On the other hand, sales of fresh ground coffee pods are expected to slow down due to the limited space in Japans households in urban areas.
Angelica Salado, senior analyst at Euromonitor International, comments, companies sometimes wrongly believe that mature markets no longer offer opportunities for new players. However, coffee can present excellent opportunities for innovation in different channels, formats and claims, even in mature markets.
Download a free extract of the study: http://bit.ly/world_coffee
ABOUT EUROMONITOR INTERNATIONAL
Euromonitor International is the worlds leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.
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