Instant coffee growth predicted
Technavio has published a new report on the global instant coffee market, which is expected to grow at a CAGR of more than 5% from 2015-2019.
The research report indicates that the reputation of instant coffee has improved among consumers, especially youth, as it is less expensive and easy to prepare. The number of consumers who drink coffee has increased considerably, which has prompted coffee producers to introduce new varieties in the market to stay ahead of the competition.
Furthermore, the report also emphasises the growing global café culture, which bodes well for the prospects of the instant coffee market.
“The growing trend of having coffee during casual social conversations, particularly in developing economies where the young population is high, is bolstering the market for coffee vendors globally,” says Faisal Ghaus, vice president of Technavio. “With the rise in coffee drinkers spurred by the increase in number of visitors to coffee shops and cafés, the potential customer base for instant coffee has expanded.”
