Coffee Beans Market to Garner $41,962.4 million, Globally, by 2027 at 5.6% CAGR: The Insight Partners

According to The Insights Partners latest market study on "Global Coffee Beans Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Product (Arabica, Robusta, and Others), End Use (Personal Care, Food and Beverage, and Pharmaceutical), and Geography," the market was valued at US$ 25,591.7 million in 2018 and is projected to reach US$ 41,962.4 million by 2027; it is expected to grow at a CAGR of 5.6% from 2019 to 2027.The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Coffee beans are the seeds produced by coffee plants, which are the rich source of coffee. The coffee beans are not exactly beans, but they are called coffee beans as they resemble true beans in their appearance. Just like ordinary cherries, the coffee beans are also a so-called stone fruit. The two most important varieties of coffee plants are arabica and robusta. According to some studies, the coffee plant was first discovered in Ethiopia by a goat herder named Kaldi. Coffee beans are a major cash crop and a crucial product for export.

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The Prominent/Emerging Players in the Coffee Beans Market includes:

• Bharat Coffee Depot
• Death Wish Coffee Company
• The Gold Coffee Company
• Hawaiian Isles Kona Coffee Company Ltd.
• Kicking Horse Whole Beans Company
• Illycafe S.p.A Company
• The Coffee Beans Co.
• Peets Coffee and Tea, Inc.
• Starbucks Coffee Company
• Direct Coffee GmbH

Coffee Beans Market Segment Analysis:

Based on product, the coffee beans market has been segmented into arabica, robusta, and others. The Arabica segment accounted for the largest share of the global coffee beans market in 2018, and robusta segment is expected to grow at a higher CAGR during the forecast period. Arabica coffee is the oldest and most dominant species of coffee. It is obtained from the coffee shrub of Arabica and is also known as mountain coffee or coffee Arabica. Arabica coffee accounts for almost 60% of the world's coffee production and consumption.

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Coffee is one of the most consumed beverages across the world. There is an upsurge in the popularity of coffee among the young population, especially in countries such as India, China, and Philippines, which fuels the demand for coffee beans. There are several leading motives for coffee consumption, such as functional, taste & pleasure, habit, tradition, culture, and socialization. The rise in the middle-class population and overall better standards of living contribute to the increase in demand for coffee and coffee beverages.

The consumption of coffee has also grown significantly office professionals. The opening and expansion of local coffee stores and new coffee stores is another factor propelling the demand for coffee, which in turn contributes to the growth of the coffee beans market. Additionally, an increase in consumption of milk favors the market growth, as consumers mix coffee in milk for better taste. The opportunity to linger and stay for a quality long time in coffee shops also attracts the attention of the consumers, which in turn increases the demand for coffee. Besides, drinking coffee is regarded as a kind of fashion and relaxed lifestyle for young people. This in turn leads to the upsurge in demand for coffee beans.

The COVID-19 pandemic began in Wuhan (China) in December 2019, and since then, it has spread around the globe at a fast pace. The outbreak has affected economies and industries due to imposed lockdowns, travel bans, and business shutdowns. Food and beverage is one of the world's major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. This is further projected to lower the demand for coffee beans products globally.

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