Coffee

The global coffee market was valued at USD 102.02 billion in 2020, and it is projected to reach a CAGR of 4.28% during the forecast period of 2021-2026.

The main coffee importing and consuming markets in Europe, North America, and Asia are in the middle of the COVID-19 crisis. Governments have imposed measures, like social distancing and lockdowns, in place, which has had a huge impact on cafés, micro-roasters, restaurants, and other out-of-home outlets. However, the current trend toward online shopping for at-home consumption is forcing retailers, roasters, and consumers to adapt to this new reality. Therefore, this factor is expected to increase the consumption of coffee around the world. For instance, companies such as Nestlé SA had reported strong retail demand for food and beverage products globally, achieving 4.4% organic group sales growth in the first quarter of 2020. Coffee sales were particularly robust as consumers stockpiled essential items during the pandemic.