Espresso Coffee Market Size, Share, Growth, and Industry Growth, By Type (Online Sales and Offline Sales), By Application (Home and Office, Coffee Shop, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

ESPRESSO COFFEE MARKET REPORT OVERVIEW

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The global espresso coffee market size was USD 12830 million in 2021 and the market is projected to touch USD 25382 million by 2031, exhibiting a compound annual growth rate (CAGR) of 7.0% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with espresso coffee experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Espresso is a coffee type made by using a small amount of boiling water with ground coffee beans. It is mainly consumed occasionally with chocolate, cream, milk, and others. The method of preparing espresso is faster owing to the use of a mechanical process that contains less caffeine and tastes bitter. Apart from its lower caffeine content, espressos contain high caffeine and affect consumption. It originated in Italy and is crafted by processing ground coffee beans in high-temperature boiling water. Increasing disposable income is anticipated to propel market growth.

It is a traditional Italian beverage that is gaining popularity among the population globally. It can be consumed directly or used as a base for various coffee drinks. The popularity of the product and the population’s awareness of beverages with low sugar content is anticipated to gain traction in the market. Moreover, the rising number of cafes and coffee shops is expected to increase product demand. The rising investment in commercial spaces, including hospitals, restaurants, hotels, and airports, may also contribute to the espresso coffee market growth.

COVID-19 Impact: Decline of Store Food by Population Retarded Market Growth

There has been growth in the market for coffee-related goods since COVID-19. Because of the government's precautionary recommendations for COVID, people opted to use the non-store segment to obtain their products at home rather than leaving their houses. At the time, the store-based segment was less popular. Despite the lockdown, COVID has nonetheless led to the market and its major players performing successfully. Additionally, the store-based distribution channel sector resumed its typical sales rate once the crisis had stabilized. However, the early months of 2020 had a major impact on the production unit as a result of the strong demand and the inability of the supply rate to keep up.

LATEST TRENDS

Rising Popularity of Espresso Coffee to Surge Major Growth in the Market

The espresso coffee market growth is anticipated to be backed by the rising popularity of espresso coffee led by the coffee manufacturers blending shots of espresso with other beverages such as latte, cappuccino, mocha, and others. The rapidly increasing demand for the product in emerging countries is anticipated to be another major factor in the growth of the market. The demand for espresso from hotels, restaurants, cafeterias, and coffee shops is enhancing the beverage demand. The higher consumption of the product due to the rising adoption of a healthy lifestyle is forecasted to be an additional factor surging the growth of the market.

ESPRESSO COFFEE MARKET SEGMENTATION

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• By Type Analysis

By type, the market is segmented into online sales and offline sales.

• By Application Analysis

Based on application, the market is classified into home and office, coffee shop, and others.

Coffee shops are estimated to dominate the market due to increasing visits of individuals to coffee shops. The rising stress level and increasing workplace pressure on the population are expected to generate higher revenues.

DRIVING FACTORS

Changing Individual Living Standards to Aid Product Demand

The rapidly changing standard of living of the population, and the adoption of healthy and anti-fat content food and beverages, is anticipated to bolster product demand. The focus of the manufacturers on the development of advanced products and strategic initiatives is constantly increasing. Additionally, the longer shelf life of espresso coffee is estimated to encourage the adoption of the product. It has longer shelf life than various milk-based commodities, which is most likely to aid growth in the market. These factors are anticipated to aid market growth.

Various Health Benefits Of the Product to Foster Growth in the Market

Espresso is preferred over drip coffee since it doesn't require a coffee filter to produce it. The natural oils and minerals in coffee might seep into the coffee during the espresso-making process. Antioxidants, especially those found in espressos, strengthen the immune system. Especially for fat people, espresso shots can even lower the risk of heart disease and stroke. Taking espresso coffee can also help you from developing diabetes. Men who consumed multiple cups of coffee daily had a lower risk of developing diabetes, while women had a higher lower risk.

Additionally, espressos reduce inflammation. It is, therefore, a prime contender for treating indigestion. It stimulates digestion, which calms an enlarged stomach.

RESTRAINING FACTORS

Side-Effect Associated With Higher Caffeine Consumption to Impede Market Growth

Caffeine can have several unfavorable impacts on one's health, including insomnia, anxiety, and upset stomach. It is also occasionally seen as a drug that can lead to addiction. The overconsumption of caffeine may result in a number of cardiovascular issues, which will be a big obstacle to the expansion of the espresso coffee market. Moreover, espresso coffee is high in calories, which increases the risk of obesity. 

ESPRESSO COFFEE MARKET REGIONAL INSIGHTS

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Europe to Lead Market Growth Due to Expanding Number of Coffee Shops in the Region

Europe is forecasted to hold approximately 80% of the total espresso coffee market share, attributed to the expanding number of coffee shops in the region. 

Asia Pacific is forecasted to show significant growth in the global market owing to the changing lifestyle and rising disposable income of the population.

North America is most likely to show sizable growth due to the higher demand for coffee, as most individuals consume at least one cup of coffee per day. 

KEY INDUSTRY PLAYERS

Key Companies to Develop New Beverages by Adding Espresso Shots to Gain Growth 

Businesses are working on developing new technology to offer more easy ways to increase product portfolio. Companies also use innovative practices and techniques to create new technologies. Companies are focused on acquisitions and investments to increase sales. The marketplace is competitive as a result of the existence of numerous huge firms. The coffee manufacturers are expanding their beverage portfolio by blending espresso shots with different drinks. Manufacturers are shifting towards the development of advanced products to make their global presence.

List of Market Players Profiled

• Luigi Lavazza S.p.A. (Italy)
• Tchibo (Germany)
• Segafredo Zanetti (U.S.)
• Massimo Zanetti Beverage Group (Italy)
• Bristot (Italy)
• Procaffé S.p.A (Italy)
• illy (Italy)
• Co.ind s.c. (Italy)
• Peet's (U.S.)

INDUSTRY DEVELOPMENT

• January 2018- Starbuck introduced Blonde Espresso in the U.S. Additionally, the company claims that the espresso has a smooth and mild flavor in comparison to other espressos. This was Starbucks' first new espresso launch in 43 years.

REPORT COVERAGE

An overview of the product is provided along with the product description. Numerous industry elements are included in the research.

• The pandemic's aftereffects and the subsequent lockdown.
• The market's most recent trend is currently fueling expansion.
• The factors are most likely to stimulate market growth.
• The reasons the market is expected to grow more slowly.
• A comprehensive regional analysis of the market is conducted.

Significant players and their business offices are also covered in the article.