LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global office and commercial coffee services market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global office and commercial coffee services market for 2017-2021 provides a detailed industry analysis based on product (coffee and espresso, hot beverage equipment, beverage mixes, to-go supplies, and coffee flavoring syrups and condiments), end-users (education, foodservice, restaurants, and convenience stores, healthcare, hospitality, and office), distribution channel, and geography.
|The global office and commercial coffee services market size is projected to grow to USD 32.71 billion by 2021, at a CAGR of close to 5% over the forecast period. Offices constitute the largest end-user segment of the global market, generating close to 49% of the overall revenue, driven by the need to increase employee engagements and their productivity.|
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The top three emerging trends driving the global office and commercial coffee services market according to Technavio consumer and retail research analysts are:
- Emergence of single-serve coffee containers
- Increase in the demand for sustainable coffee solutions
- Expanding distribution channels
Emergence of single-serve coffee containers
“The lucrative demand for single-serve coffee containers is drawing new players to the office and commercial coffee services market. The resultant competition will result in decreased prices of these cups, thereby drawing more sales,” says Poonam Saini, a lead analyst at Technavio for consumer services and personal care market.
Keurig is currently dominating the marker for single-cup brews, owing to a patented technology that they use in the manufacture of these single-serve coffee containers. The emergence of new brands has offset the dominance of K-cups, leading to healthy competition and demand.
Increase in the demand for sustainable coffee solutions
The average consumer of office and commercial coffee services are demanding for eco-friendly and sustainable coffee solutions and products. The vendors in the market are capitalizing on this demand from their clients by expanding their sustainable coffee and related product lines. Environmentally-friendly products include products such as recyclable papers and packaging materials; and environmentally certified biodegradable and unbleached paper coffee pods. Such innovations in the market space are expected to contribute significantly to the growth of the market.
Expanding distribution channels
“Wholesale delivery or provisioning is a key trend that is expected to drive the growth of the market shortly. Wholesale delivery allows operators to supply products to certain offices that are not their office and commercial coffee service customers,” says Poonam.
Currently, office and commercial coffee service vendors are looking for new ways to improve their range of offerings and gain profits. Wholesale delivery gives ample opportunities to these vendors to scale up the products supplied to each customer, thereby driving the growth of the market.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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