2023
10
The Future of Coffee 2023
2023-05-03T07:01:23+01:00
REP8C42E90A_71F5_402D_B62B_B0A6AF76009E
2995
162977
[{"name":"Coffee","url":"https:\/\/store.mintel.com\/industries\/drinks\/coffee"}]
Report
en_GB
Brands will learn from private label's quality advancement and embark on a new era of health/indulgence. Eco offerings will lead with taste versus sustainability. Cormac Henry, Senior Global Food…

The Future of Coffee 2023

$ 2,995 (Excl.Tax)

Description

The Future of Coffee 2023 is a global market report that covers the latest innovations and consumer trends across the global coffee market in 2023. Our global future of coffee market report identifies evolving areas, consumer attitudes, and important advances expected across regions like EMEA, APAC, and LATAM over the next five years and beyond.

Global Coffee Market Landscape

Uncertain economic times are driving value-seeking behaviours across the global coffee industry. Instant coffee and coffee mixes have remained popular as value options. Familiarity is a key purchase driver, showing the strength of brand equity.

  • In the UK, 57% of coffee consumers drink instant coffee at home (+2% vs 2021).

Global Coffee Market Trends in the Next Two Years

Squeezed budgets will see consumers save by buying more private-label coffee. However, by making this change consumers do not feel they are making a huge quality compromise. Own-label represents a threat for established coffee brands, but opportunities will arise for brands to learn from private-label’s innovation.

As Gen Z’s spending power increases, brands should tap into the generation’s love of indulgent iced coffees. Repositioning classic hot coffee products as suitable for iced coffee can help appeal to younger consumers. There is also room to grow a younger audience for hot coffee through messaging focusing on comfort.

  • In the US, 34% of Gen Z consumers perceive hot coffee to be comforting (vs 29% for iced coffee).
  • 32% of German coffee consumers agree coffee products with functional benefits are appealing.

Future of the Coffee Industry in Five Years and Beyond

The subject of sustainability will become more important in the coffee market. The future of the industry will be determined by how brands respond to this issue. Sustainability initiatives that benefit both producers and end consumers will be beneficial.

New coffee technology, such as AI barista robots, suggests a future of evolved at-home convenience. Brands should consider early investment in emerging technologies that elevate quality and reduce waste.

  • In China, 63% of consumers would purchase smart home devices to save time/effort.

To learn more about the current global coffee market, take a look at our A Year of Innovation in Coffee Market Report.

Expert Analysis from a Specialist in the Food and Drink Industry

This report, written by Cormac Henry, a senior global food and drink analyst, delivers in-depth commentary and analysis to highlight current global coffee market trends and add expert context to the numbers.

Brands will learn from private label’s quality advancement and embark on a new era of health/indulgence. Eco offerings will lead with taste versus sustainability.

 

Cormac Henry
Senior Global Food & Drink/Purchase Intelligence Analyst

Table of Contents

  1. where we are now

    • Graph 1: proportion of coffee launches by format, 2018-23
  2. IN THE NEXT TWO YEARS

    • Learn from private label’s rising star in quality
    • Graph 2: quality perception of private label vs branded coffee, 2022-23
    • Usher in a new era of indulgence
    • Help consumers manage work and wellness
  3. In five years and beyond

    • Graph 3: consumer agreement that information on how a product has benefitted people (eg number of farmers lifted out of poverty) would encourage purchase, 2022

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

The consumer

What They Want. Why They Want It.

The Competitors

Who’s Winning. How To Stay Ahead.

The Market

Size, Segments, Shares And Forecasts: How It All Adds Up.

The Innovations

New Ideas. New Products. New Potential.

The Opportunities

Where The White Space Is. How To Make It Yours.

The Trends

What’s Shaping Demand – Today And Tomorrow.

Below is a sample report, understand what you are buying.

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Future Of Sample Report

Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.

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