Drinking coffee is becoming a popular phenomenon over the world and the instant coffee market has registered the benefits of such a global trend. Even countries that have been traditionally consuming tea over the centuries, have been expressing interest in consuming coffee the café culture that has become widely recognized in countries with emerging economies, is largely capitalizing on the trend. The instant coffee market has registered greater traction due to the ease with which instant coffee can be prepared. Instant coffee market players have been continually producing coffee variants with a wide range of flavors that has added to the appeal of instant coffee. Single serve and convenient packaging of coffee has also heled instant coffee market to gain considerable traction.
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Segmentation
The instant coffee market is classified as category, type and distribution channel.
Category wise segmentation of instant coffee market comprises traditional and decaffeinated. In 2018, traditional instant coffee market registered higher growth. However, over the forecast period due to increasing coffee consumption and consumer preference for coffee with lower caffeine content, decaffeinated instant coffee market is expected to witness higher CAGR.
On the basis of type, instant coffee market is segmented as freeze-dried and spray-dried. Spray-dried instant coffee segment is known to have captured a larger market share as the demand for powdery instant coffee that easily dissolves in hot milk or water is in greater demand among instant coffee consumers. However, due to the increased capacity of freeze dried instant coffee to retain aroma and flavor, freeze dried instant coffee market is anticipated to greater CAGR over the forecast period.
According to distribution channel, instant coffee market is divided into store-based and non-store-based. Store based instant coffee market which is further segregated into convenience stores, supermarkets and hypermarkets and others has dominated market shares in 2018. The trend has been witnessed due to growing retail industry and opening of numerous retail outlets that sell instant coffee. Due to the presence of multiple options, consumers have traditionally preferred to buy instant coffee from store based distribution channels. However, with the expansion of e-retail, non-store based instant coffee market is expected to register a higher CAGR during the forecast period.
Regional Analysis:
Asia Pacific instant coffee market is anticipated to register fastest growth over the coming years due to changing lifestyles and increased consumption of instant coffee are chief drivers for instant coffee market growth in the region. Expanding disposable income and a resultant café culture will also add stimulus to Asia Pacific instant coffee market growth. Due to presence of more mature instant coffee market in Europe and North America, market growth is expected to be comparatively slower in these regions. However due to expansive consumption of coffee in these regions considerable revenue share is also expected to be garnered from these regions.
Competitive Landscape:
Some of the main competitors in the instant coffee market include Nestlé SA, Strauss Group Ltd, Starbucks Corporation, Jacobs Douwe Egberts BV, Tata Global Beverages Ltd, Kraft Foods Group, Inc., Keurig Dr Pepper, Unilever Plc, Matthew Algie Company Ltd and Tchibo Coffee International Ltd.
Instant News:
Instant coffee market is continually shaped with new product launches and expansion efforts by market players. For instance, recently, Buencafe one of the leading suppliers of instant coffee recently announced that it intends to increase its sales in China. Apparently Buencafe has been operating in the instant coffee industry for the past 45 years and most of the coffee produced has been export oriented. Though China is chiefly a tea drinking country, the tendency for coffee consumption is rising and therefore it is becoming a target market for various instant coffee market players.
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