DUBLIN, May 25, 2023 /PRNewswire/ — The “Global Flavoured Coffee Market – Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global flavored coffee market is estimated to grow at a CAGR of 4.01% to reach a market size of US$8,639.391 million in 2028 from US$6,560.111 million in 2021.
Coffee-flavored syrups are flavors that are simply syrups that are sugar combined with water and cooked while naturally occurring or manufactured coffee flavorings are also incorporated in them. Coffee-flavored syrups come in various tastes, including caramel coffee syrup, hazelnut coffee syrup, vanilla coffee syrup, blackberry coffee syrup, apple coffee syrup, and others.
Furthermore, the rising popularity of customized taste options and product diversity, as well as rising demand for coffee syrup due to increased knowledge about its health benefits, are expected to drive the market’s overall expansion throughout the projected period.
The increasing cafe culture in developing nations is expected to make coffee a more accessible commodity and hence drive demand in the market.
For instance, Third Wave Coffee, a premium artisan cafe brand that has created a popular and dedicated community of coffee lovers in Bengaluru, Pune, and Delhi since its inception, has inaugurated its flagship location in Mumbai at Lokhandwala in March 2022. With the addition of this new cafe, the company now has 43 cafes in India, with aspirations to expand to over 150 cafes in over 20 cities by March ’23.
The coffee is prepared from 100% arabica beans taken from Chikmanglur and Nilgiris premium estates. Overall, the coffee culture is changing, with coffee shops and retailers increasingly seeking to provide customers the experience of choosing their whole beans and brewing them using a variety of methods in addition to roasting and selling coffee.
Additionally, companies have also taken the initiative to encourage customer engagement by implementing various programs that have enhanced the global flavored coffee market. For instance, in September 2020, Joffrey’s Coffee & Tea Company, a Tampa-based coffee roaster and one of the Southeast’s earliest specialty coffee roasters started its annual Flavour Originator Contest. Joffrey invites fans to enter the contest and assist the coffee firm to decide on the flavor for its upcoming flavored coffee.
Fans may select from a range variety of flavors, vote on the most preferred tastes and textures, and even vote on the new coffee’s label and name. Joffrey’s introduced the winning flavor on National Coffee Day (Tuesday, September 29) and chose five random winners who got a free bag of Joffrey’s coffee per month for a year. Joffrey’s Flavoured Coffee Collection now includes the winning flavor.
Market Developments:
- In October 2022, Bevzilla, a D2C Beverage company and the creator of India’s first Instant Coffee Cubes, extended its range and introduced Turkish Hazelnut, a unique and fascinating flavor that is a great treat for all coffee enthusiasts. Bevzilla’s newest acquisition demonstrates its commitment to providing smooth, tasty, nutritious, and foamy coffee to all of its customers. The Instant Coffee Powder is manufactured from 100% Pure Arabica Beans and contains no preservatives. This instant coffee mix contains plant-based vitamins and is sustainably obtained from Tamil Nadu farmers. Bevzilla is available in over 100 retail locations, Amazon, its website, and other top retailers such as Nilgiris, Foodhall, The New Shop, and others.
- In 2022, Reborn Coffee announced plans to expand its US and international presence. Reborn Coffee distributes whole bean coffee, pour-over packs, and cold brew products at retail locations, kiosks, and cafes across the United States. The company plans to open up to 40 company-owned retail locations and four flagship locations in the United States
Asia Pacific is projected to grow due to emerging coffee culture in countries like India, China, Japan, and South Korea.
Based on geography, the global flavored coffee market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific regions. North America is a mature market whereas Asia holds huge potential for growth. For example, even though India is one of the countries that produce the most tea, it is amazing to see how coffee is eclipsing tea as more and more coffee brands and chains using pure whole beans enter the market and spread across the nation.
Caffeine Baar, one of India’s most experimental specialty coffee brands, launched ‘Elements 2021’ in July 2021, a collection of three new packaged specialty coffee beans – Carbonic Maceration, Anaerobic Fermentation, and Orange Fermentation, blending chemistry and experimentation with single-origin, high-grown Arabica coffee beans from the 120-year-old Baarbara Estate in Chikmagalur.
Further, the presence of multinational beverage companies like Starbucks in the country is further expected to drive the market. The company has expanded vastly in the country and crossed the 300th store mark in India after launching the first-ever Starbucks outlet in Dehradun in September 2022. The company offers flavored coffees like Java Chip and Caramel Macchiato, among others and its increasing expansion in the country is expected to augment the regional market.
Market Segmentation:
By Type
- Whole-bean
- Ground coffee
- Instant coffee
- Coffee pods and Capsules
By Flavour Type
By Age Group
- Up to 18 Years
- 18-30
- 30-50
- More than 50
By Distribution Channel
For more information about this report visit https://www.researchandmarkets.com/r/m2zbsb
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