SEATTLE--(BUSINESS WIRE)--The global instant coffee market was valued at US$ 30.57 billion in 2018, and is projected to exhibit a CAGR of 4.7% over the forecast period (2019–2027), in terms of revenue.
Key Trends and Analysis of the Instant Coffee Market:
The instant coffee market is expected to witness substantial growth over the forecast period. This is owing to growth of end-use industries. The increasing disposal income and fast paced lifestyles of consumers is fuelling demand for convenient food products, which in turn, is supporting market growth.
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The import duty imposed by the government of India on coffee processing machines is high. The government has imposed an import duty of about 30% on these machines, which drastically increases the manufacturing costs of instant coffee. This could negatively impact growth of the market. Government authorities such as Food Safety and Standard Authority of India (FSSAI), have imposed food safety and labelling regulations under the FSSAI Guidelines for Labeling & Packaging on instant coffee. Such regulations are key challenges for instant coffee manufacturers in the market.
Frequent mergers and acquisitions, strategic collaborations, and product innovation are some of the key strategies adopted by players. For instance in 2013, Nestle S.A. launched its new instant coffee brand named Nescafe Azera in the U.K. Furthermore, Tata Coffee Limited, a subsidiary of Tata Global Beverages Ltd, in 2017, they announced their plans to set up a coffee plant in Vietnam with a capacity of 5,000 metric tons per annum, in order to cater the growing demand for instant coffee and to strengthen the company’s business in Asia Pacific region.
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Key Market Takeaways:
- The global Instant coffee market is expected to exhibit a CAGR of 4.7% during the forecast period in terms of revenue. The market is driven by growth of end-use industries such as food and beverage, and others.
- Among regions, Asia Pacific is expected to witness major market share over the forecast period, owing to increasing demand for instant coffee propelled by growing urbanization and changing lifestyle.
- Some of the major players operating in the global instant coffee market include, Nestle S.A, Keurig Green Mountain Inc., Starbucks Corporation, Jacobs Douwe Egberts, Tata Global Beverages Limited, Strauss Group Ltd, Luigi Lavazza S.P.A., Matthew Algie & Company Limited, Kraft Foods Inc., Tata Global Beverages, Tchibo Coffee International Ltd, Unilever Plc, Leo Coffee, Cothas Coffee Co., Hintz Foodstuff Production Gmbh, Illycaffe S.p.A., Sri Narasu's Coffee Company Pvt. Ltd., Hindustan Unilever Limited, Zino Davidoff, BM Foods, CCL Products (India) Ltd., and others
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