The out-of-home coffee market has seen significant growth, driven by the convenience of on-the-go coffee consumption and the rising popularity of specialty drinks like lattes and cappuccinos. As lifestyles become busier, consumers increasingly turn to coffee shops, kiosks, and mobile vendors for their caffeine fix.
The market is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2022 to 2032, potentially surpassing USD 36 billion by 2032.
Recent consumer trends indicate a shift from tea to coffee, especially among working professionals who have access to coffee machines at their workplaces. Instant coffee, in particular, has seen increased consumption.
Europe is forecasted to lead the market with about 25% of the global market value by 2022, while the United States is projected to hold nearly 78% of North America’s market share. The growing preference for coffee among younger consumers and increased spending on premium brands are expected to drive market growth.
The COVID-19 pandemic temporarily disrupted the market by affecting supply chains and revenues. However, as restrictions ease, the market is expected to recover and grow, with companies enhancing their offerings and customer engagement.
Future Market Insights provides a detailed analysis of the out-of-home coffee market, including historical data and forecasts, covering various product types, end uses, and distribution channels across major regions.