Sunday, October 9, 2022

Cafe Market to Witness Robust Expansion throughout the Forecast Period 2019 – 2027

 Cafe: Coffee House Shop Typically Serving Coffee

  • Coffee is one of the flagship products of a Cafe. Such business establishments employ innovative strategies to remain competitive in the market. These strategies include innovative and diversified menu offerings as well as upselling and cross-selling techniques.
  • An increase in coffee consumption is encouraging Cafe establishments to offer brewed coffee and specialty espresso drinks such as lattes and cappuccinos.

Key Drivers of the Global Cafe Market

  • The rise in demand for coffee consumption is one of the primary factors driving the Cafe market. Growth in consumption of coffee is primarily driven by the rise in health awareness and increase in income levels in various developing and emerging countries.
  • An increase in coffee consumption among millennials is also driving the Cafe market. A rise in the diversification of coffees, such as decaf coffee and cold beverage coffee, has prompted the millennials to try newer types of coffee. This is anticipated to boost the Cafe market. Furthermore, growth in the trend of coffeehouses as a place for socializing among the millennials is anticipated to boost the Cafe market.

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Increase in Number of Single Cup Brewers to Offer Lucrative Opportunities to Cafe Market

  • The number of single-cup coffee brewers has been rising over the last couple of years. Single-cup brewers offer convenience and freshness. They also help keep the costs down.  Additionally, ease of use, good marketing, and availability of a wide variety of flavors have contributed to its popularity. This is anticipated to provide new opportunities to the Cafe market.

Growth of Online Food Delivery Portals to Hamper Cafe Market

  • The advent of online food delivery portals is one of the key factors restraining the Cafe market. An increase in convenience and availability of a wide selection of food at reasonable rates are driving the business for online food delivery portals. This is hampering the Cafe market, as a large number of people prefer the convenience of having premium coffee in the home by ordering it online.
  • Volatility in prices of raw materials of coffee is also adversely affecting the Cafe market. Shortage in supply of coffee beans leads to an increase in prices of coffee in Cafes, thereby resulting in sluggish growth of the Cafe market.

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Asia Pacific Offers Growth Avenues for Global Cafe Market

  • Geographically, the global Cafe market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • The Cafe market in Europe and North America is robust due to the high consumption rate of coffee in the countries in these regions. According to data published by the National Coffee Association, U.S., approximately 63% of the adult population in the country drinks coffee. The Cafe market in developing regions such as Asia Pacific is anticipated to expand at a promising pace in the near future. China has experienced exponential growth in coffee consumption in the last decade. According to data released by the International Coffee Organization, the coffee consumption rate in China is increasing at an annual rate of more than 16%.
  • Starbucks, a leading international coffee chain, is rapidly expanding its presence in China. The company tripled its store count to 3,300 in 2018 from 1,017 in 2013. Similarly, coffee consumption in South America is increasing at an exponential rate. The long coffee tradition in some of the coffee-producing countries and increase in purchasing power have boosted the demand for differentiated coffee.

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Key Players Operating in Global Market

The global Cafe market is highly fragmented with the presence of various key global Cafes along with many region-based players. These companies account for a highly volatile market share, which keeps changing based on the global coffee consumption trend. Major players operating in the global Cafe market include:

  • Starbucks Coffee Company
  • Barista Hustle
  • DD IP Holder LLC  (Dunkin Brands)
  • Restaurant Brands International
  • Whitbread PLC.
  • Costa
  • Cafe Coffee Day
  • Tim Hortons
  • Caribou Coffee Company
  • Gloria Jean’s Gourmet Coffees

Global Cafe Market: Research Scope

Global Cafe Market, by Type

  • Restaurant
  • Grab-and-Go
  • Corporate Store

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