BRC: The green coffee market size has grown from $36.52 billion in 2023 to $38.23 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%
November 29 - 2024
Coffee Geography Magazine
The green coffee market size has grown from $36.52 billion in 2023 to $38.23 billion in 2024 at a compound annual growth rate (CAGR) of 4.7% according to Business Research Company. The expansion of specialty coffee has contributed to the growth as the world is now interested in exploring for better taste and flavor by sourcing meticulously for the right green coffee that could satisfy their customers.
The green coffee market size is expected to see steady growth in the next few years. It will grow to $45.3 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to climate change adaptation, increasing demand for organic coffee, emergence of cold brew coffee, shift towards single-origin and micro-lot coffees, health and wellness. Major trends in the forecast period include investments in coffee farming technology, digitalization in coffee supply chain, technological advancements in coffee processing, innovations in coffee varieties, digital coffee trading platforms.
Strategic partnerships are the key trends gaining popularity in the green coffee market. Major companies operating in the green coffee market are forming partnerships to develop a new relationship in which two or more organizations develop green coffee products and services. For instance, in May 2022, Cafe Holdings Inc., a US-based specialty coffee company, partnered with Iron Sight Industries Inc., a US-based farming and supply company. This partnership aimed to launch blockchain technology that is designed specifically for the green coffee industry.
Further, in July 2021, Neumann Kaffee Gruppe, a Germany-based operator of green coffee services, partnered with the Coffee Coalition for Racial Equity (CCRE), a US-based non-profit-driven company. With this partnership, they aimed to provide coffee farmers, roasters, and retailers with information on how to create more equitable supply chains and bring equity and diversity into the coffee community.
The Business Research Company is a market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.