LONDON–(BUSINESS WIRE)–The global instant coffee market is expected to grow by USD 8.88 billion as per Technavio. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth. Request free sample pages
Read the 127-page report with TOC on “Instant Coffee Market Analysis Report by Product (spray-dried and freeze-dried) and Geographic Landscape (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024”.
The market is driven by the popularity of instant coffee among millennials. In addition, the increasing number of new product launches is anticipated to boost the growth of the instant coffee market.
The increasing popularity of instant coffee among millennials, particularly in China and the US, will drive the global instant coffee market during the forecast period. In addition, the increased spending power of millennials will be a major trend influencing the positive market growth. Flavored instant drinks are also in high demand among millennial consumers. Thus, vendors are offering new products that are targeted at this demography. For instance, Starbucks launched three new products as part of its Cold Craft range. These products are Starbucks Nitro Cold Brew, Cold Brew Vanilla Sweet Cream, and Cappuccino Freddo.
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Major Five Instant Coffee Companies:
ITC Ltd. has business operations under various segments, such as FMCG, hotels, paperboards and packaging, and agri business. Key products offered by the company include Sunbean Beaten Coffee and Sunbean Gourmet Coffee.
Jacobs Douwe Egberts BV
Jacobs Douwe Egberts BV is one of the major vendors in the global hot drinks market and has several brands featuring products like packaged black tea, ground coffee, instant coffee, loose tea leaves, and green tea. Some of the brands of the company are Damasco, DOUWE EGBERTS, CAFÉ PRIMA, CAFFE HAG, and MAXWELL HOUSE.
Keurig Dr Pepper Inc.
Keurig Dr Pepper Inc. operates its business through various segments, such as beverage concentrates, packaged beverages, Latin America beverages, and coffee systems. Key products offered by the company include Café au Lait and Vanilla Cinnamon Latte.
Luigi Lavazza Spa
Luigi Lavazza Spa has business operations under two segments, such as coffee and coffee machines. Key products offered by the company include Caffè Espresso and Espresso Decaffeinato.
Massimo Zanetti Beverage Group
Massimo Zanetti Beverage Group operates its business through two segments, such as coffee and coffee machines. Key products offered by the company include Premium Coffee Sticks and Decaffeinated Coffee Sticks, under the brand name Boncafé.
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Instant Coffee Product Outlook (Revenue, USD bn, 2020-2024)
Instant Coffee Regional Outlook (Revenue, USD bn, 2020-2024)
- North America
- South America
- Key leading countries
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