Global Flavored Coffee Market Report 2023: Rising Popularity of Customized Taste Options and Product Diversity Drive Growth
DUBLIN, May 25, 2023 /PRNewswire/ — The “Global Flavored Coffee Market – Forecast 2023 to 2028” report has been added to from ResearchAndMarkets.com offer.
The global flavored coffee market is expected to grow at a CAGR of 4.01% to reach a market size of $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 natural or manufactured coffee flavors are also incorporated in them. Coffee flavored syrups come in different flavors including caramel coffee syrup, hazelnut coffee syrup, vanilla coffee syrup, blackberry coffee syrup, apple coffee syrup, etc.
Additionally, growing popularity of personalized taste options and product diversity, along with growing demand for coffee syrup due to better knowledge of its health benefits, is expected to drive the overall market expansion while over the projected period.
Growing coffee cultivation in developing countries is expected to make coffee a more accessible product and hence drive demand in the market.
For example, Third Wave Coffee, a premium craft coffee brand that has created a popular and dedicated community of coffee lovers in Bangalore, PuneAnd delhi since its creation, inaugurated its flagship site in Bombay in Lokhandwala in March 2022. With the addition of this new cafe, the company now has 43 cafes in Indiawith aspirations to expand to over 150 cafes in over 20 cities by March 23.
The coffee is prepared using 100% Arabica beans from the premium Chikmanglur and Nilgiris estates. Overall, coffee culture is changing, with cafes and retailers increasingly seeking to offer customers the experience of choosing their whole beans and brewing them using a variety of methods in addition to roasting and the sale of 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 example, in September 2020Joffrey’s Coffee & Tea Company, a TampaThe New York-based coffee roaster and one of the Southeast’s premier specialty coffee roasters has launched its annual Flavor Maker Contest. Joffrey invites fans to enter the contest and help the coffee company decide on the flavor of their next flavored coffee.
Fans can choose from a variety of flavors, vote on the most favorite tastes and textures, and even vote on the label and name of the new coffee. Joffrey’s presented the winning flavor on National Coffee Day (tuesday september 29) and picked five random winners who received a free bag of Joffrey coffee per month for a year. Joffrey’s collection of flavored coffees now includes the winning flavor.
- In October 2022Bevzilla, a D2C beverage company and the creator of india first Instant Coffee Cubes, has expanded its range and introduced Turkish Hazelnut, a unique and fascinating flavor that is a treat for all coffee lovers. Bevzilla’s latest acquisition demonstrates its commitment to providing smooth, flavorful, nutritious and frothy coffee to all of its customers. Instant coffee powder is made from 100% pure arabica beans and contains no preservatives. This instant coffee blend contains plant-based vitamins and is sustainably sourced from farmers in Tamil Nadu. Bevzilla is available at over 100 outlets, Amazon, its website, and other major retailers such as Nilgiris, Foodhall, The New Shop, and others.
- In 2022, Reborn Coffee announced plans to expand its presence in the United States and internationally. Reborn Coffee distributes whole bean coffee, pour-over packs and cold brew products to retail outlets, kiosks and cafes across United States. The company plans to open up to 40 company-owned outlets and four flagship locations in United States
Asia Pacific is expected to grow due to the emerging coffee culture in countries like India, China, JapanAnd South Korea.
Based on geography, the global flavored coffee market is segmented into North America, South America, EuropeTHE Middle East And AfricaAnd Asia Pacific Regions. North America is a mature market while Asia holds enormous potential for growth. For example, even though India is one of the countries that produce the most tea, it is amazing how much coffee is eclipsing tea as more coffee brands and chains using pure whole beans enter the market and spread across the country.
Caffeine Baar, one of india most experimental specialty coffee brands, launched “Elements 2021” in July 2021a 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 sourced from the Baarbara Estate, 120 years old, in Chikmagalur.
Furthermore, the presence of multinational beverage companies like Starbucks in the country is further expected to boost the market. The company has grown considerably in the country and reached the 300th store milestone in India after launching the very first Starbucks outlet in Dehradun in September 2022. The company offers flavored coffees such as Java Chip and Caramel Macchiato, among others, and its growing expansion in the country is expected to increase the regional market.
Market segmentation :
- whole grain
- Ground coffee
- Instant coffee
- Coffee pods and capsules
By type of flavor
By age group
- Up to 18 years old
- more than 50
By distribution channel
For more information about this report visit https://www.researchandmarkets.com/r/m2zbsb
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