|International News: Global Instant Coffee Market Overview 2018, Demand by Regions, Share and Forecast to 2023
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The global instant coffee market has witnessed a steady growth over the past several years. This can be attributed to the various health benefits of coffee coupled with single-serve and convenient packaging solutions offered by the manufacturers.
A new research report by IMARC Group, ti tled “Instant Coffee Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global instant coffee market was worth US$ 10.4 Billion in 2017, registering a CAGR of 5% during the year 2010-2017. Instant or soluble coffee refers to a beverage derived from dried coffee extracts that enables the consumers to prepare coffee quickly by just adding water to it. It is available in granulated, concentrated liquid and powered form in sachets or glass jars. Instant coffee has lower caffeine content than brewed coffee, however, it contains a high amount of antioxidants. The consumption of instant coffee offers similar health benefits to brewed coffee, such as enhancing brain function, boosting me tabolism, improving liver and mental health, etc.
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On the basis of type, the market has been segmented into spray dried and freeze dried instant coffee. Currently, spray dried instant coffee is the most popular product type, holding the majority of the global share, as it is more affordable than freeze dried instant coffee.
Region-wise, Europe represents the largest instant coffee market globally as coffee intake is an age-old tradition in the region. Particularly in Eastern Europe, the expanding middle-class population, growing disposable income and rapid urbanisation are accentuating the demand for instant coffee. Other major regions are Asia Pacific, North America, Latin America and Middle East and Africa.
The market is highly concentrated with the presence of very limited pla yers who compete in terms of prices, packaging, flavours and quality. Some of the leading pla yers operating in the market are Nestlé, Strauss Group, Jacobs Douwe Egbertsé and Tchibo.