Fact.MR, a market research and competitive intelligence provider, reveals that global demand for coffee shops is projected to increase at a CAGR of 3.7% and the market is likely to reach a valuation of US$ 243 billion by the end of 2032.
Coffee is considered one of the most popular beverages consumed around the world. A wide variety of coffee beans is easily accessible for franchised and local coffee shops due to them being one of the highest exported commodities of agriculture. Increasing disposable income of young people and rising urban population are anticipated to bolster demand for new-generation cafes in semi-urban and urban cities. In recent years, coffee shops are being designed for business meetups, formal or informal meetings, and socializing purposes, which has further created a dimensional shift from the conventional coffee shop structure.
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Specialty cafes have been gaining traction in recent years as they provide premium quality coffee and coffee beans. Further, exotic coffee beans, one of the varieties of coffee types that are available in the global market, require fancy preparation. Rising use of cafes as an alternative to present co-working spaces is expected to bolster growth opportunities in the market.
Various canned coffee products are gaining traction among consumers. These products have been introduced by Starbucks, Nescafe, and CCD, which is likely to push growth opportunities in the retail sector under the same brands of coffee.
Key Takeaways from Market Study
- The projected valuation of the global coffee shops market is US$ 243 billion for 2032.
- Demand for coffee shops is likely to expand at a CAGR of 3.7% through 2032.
- The coffee shops market in the U.S. reached a value of over US$ 36 billion in 2021.
- The market of Germany is projected to expand at a CAGR of 3.2% through the forecast period.
- Demand for coffee is anticipated to reach US$ 130 billion by the end of 2032.
How is the Coffee Shops Industry Faring in North America?
“Busy Lifestyle Driving Demand for Cafes in the U.S. & Canada”
The U.S. market reached a valuation of over 36 million in 2021. Further, the market in Canada is estimated to progress at a CAGR of 3.6% through 2032. This growth is attributed to the rising consumption of coffee due to long working hours and the busy lifestyles of people that increases the requirement for a refreshing beverage such as coffee.
“Presence of Prominent Coffee Chains in North America”
Among the regional markets, the North American industry of coffee shops is likely to hold a dominating position in the coming years owing to a noticeable count of coffee shops that are present in the regional market.
The region is working as the largest importer of coffee and fulfilling its demand from producing countries. Starbucks is serving as one of the largest coffee-selling chains in the world whose headquarter is in Seattle, Washington.
Further, the European market is estimated to grow at a noticeable speed with the rapid growth in the coffee culture across the region.
The market for coffee shops is highly concentrated at the top. Competition also comes from some other industries (donut shops, fast food restaurants, convenience stores, and others). There is cut-throat competition among key players who offer various loyalty programs, have premium locations, offer outstanding environment/service (short waiting queues, comfortable seating areas, etc.), and provide special offers (new offerings).
Companies owning coffee shop chains are incorporating various strategies and developing many new methods and techniques to increase their customer base.
For instance, state-of-the-art technology is serving as a pivotal factor in coffee shops to serve differentiated and high-quality products. The advantages related to high-level machines and technology are shorter waiting times for consumers. In addition, this high-level technology can create various unique, new, and fresh flavors.
Key Companies Profiled
- Costa Coffee
- Café Coffee Day
- Starbucks Corporation
- Caribou Coffee Company
- Coffee Republic
- Dutch Bros Coffee
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Segmentation of Coffee Shops Industry Research
- By Product:
- Other Products
- By City Size:
- By Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global coffee shops market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights into the market on the basis of product type (coffee, other products) and city size (metropolitan, urban, rural), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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