Food Service Market Insights: Growth Drivers and Market Opportunities

The global foodservice coffee market size was USD 452.05 billion in 2022. The market is anticipated to expand from USD 478.85 billion in 2023 to USD 729.09 billion in 2030, exhibiting a CAGR of 6.20% over the projected period. The expansion is driven by an increase in coffee consumption across various regions and the increasing adoption of urban lifestyle.

Fortune Business Insights™ provides this information in its research report, titled “Foodservice Coffee Market, 2023-2030”.

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Segmentation:

Takeaway/Delivery Segment to Dominate Owing to Growing Delivery Demand

On the basis of type, the market for foodservice coffee is subdivided into dine-in and takeaway/delivery. The takeaway/delivery segment held a key share in the market in 2022 and is poised to record notable growth over the analysis period. The surge is impelled by the rising delivery and takeaway demand.

Coffee House & Beverage Shops Segment to Lead Impelled by Soaring Consumer Preference for Specialty Coffees

By end-user, the market is fragmented for foodservice coffee into bakery shops and restaurants, coffee house & beverage shops, and others. The coffee house & beverage shops segment accounted for a leading market share in 2022 and is estimated to expand at an appreciable CAGR over the projected period. The growth is driven by the increasing consumer preference for specialty coffees across various regions.

Based on geography, the market for foodservice coffee has been analyzed across Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage:

The report gives a comprehensive analysis of the major factors driving the market growth. It further provides an insight into the key strategies adopted by leading industry participants for increasing their geographical footprints. Additional aspects comprise an account of the vital trends in the market.

Drivers and Restraints:

Market Value to Surge with Growing Number of Coffee Shops

The recent years have recorded a substantial rise in the number of coffee shops. This is due to the increasing competition among coffee operator and the escalating demand for numerous types of coffee. This is slated to drive the global foodservice coffee market growth over the forecast period.

However, the industry growth may be hampered by fluctuations in the prices of coffee and concerns associated with storage costs. 

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Regional Insights:

Europe to Emerge as Key Region Impelled by Soaring Consumer Purchasing Power

Europe foodservice coffee market share held a major position in the market in 2022 and is anticipated to record substantial expansion over the projected period. The expansion is being driven by the presence of key foodservice institutions such as quick-service restaurants, hotels and resorts, specialist coffee shops, and restaurants, among others.

The North America market is anticipated to depict appreciable growth over the forecast period. The expansion can be attributed to the growing acceptance of coffee among youth and an upsurge in the number of retail stores.

Competitive Landscape:

Leading Companies Ink Strategic Deals to Strengthen Market Footing

Major industry players are centered on adopting an array of strategies for strengthening their market footings. These comprise partnership deals, collaborations, and the launch of new products. Additional steps include merger agreements, the formation of alliances, and growing participation in trade conferences.

Key Industry Development:

September 2021 – Black Sheep Coffee shared plans to expand its store portfolio. The expansion was planned across numerous cities in the U.K., comprising London, Manchester, Liverpool, and Edinburgh.

List of Key Players Mentioned in the Report:

  • Starbucks Corporation (U.S.)
  • Costa Limited (U.K.)
  • M. Smucker (U.S.)
  • Kraft Heinz Company (U.S.)
  • JDE Peet’s (Netherlands)
  • Eight O’clock Coffee Company (U.S.)
  • Bewley’s Tea and Coffee Ltd. (Ireland)
  • Keurig Dr Pepper Inc. (U.S.)
  • Coffee Republic (U.K.)
  • Coffee Beanery (U.S.)
  • SSP Group (U.K.)
  • Ajinomoto Co., Inc. (Japan)
  • Dunkin (Inspire Brands) (U.S.)
  • Restaurant Brands International (Canada)
  • Nestle S.A. (Switzerland)
  • Farmer Brothers (U.S.)
  • JAB Holding Company (Caribou) (U.S.)
  • Pacific Foods (U.S.)
  • McDonald’s Corporation (U.S.)
  • Seven & I Holdings (7- Eleven) (Japan)
  • WaWa (U.S.)

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