KUALA LUMPUR, Oct 19 (Bernama) – Global coffee shop sales will beat growth of packaged coffee through 2022, according to Euromonitor International recent research.
The global market research company examined the holistic world of coffee, looking at the evolution of how and where coffee is consumed, in a new on-demand webinar, “Coffee in 2018: The New Age of Coffee Everywhere”.
According to a statement, the demand for premium coffee through all channels is driving the industry with new product development and faster distribution.
The coffee shops will serve as the hub of innovation, becoming a larger part of how consumers discover and purchase coffee.
Consolidation is also impacting how the industry will take shape as companies look to capture a greater portion of premium coffee spend.
Meanwhile, the packaged food and beverage players will continue to invest in coffee shops to have a more direct presence in foodservice.
Global lead – food and beverage at Euromonitor International, Michael Schaefer said this year alone, several deals between packaged coffee brands and coffee shops had been seen, from Nestlé partnering with Starbucks to Coca-Cola acquiring Costa Coffee.
“Successful coffee players will combine discovery, experience, long-term purchasing and rapid product innovation, all across a wide range of distribution points,” he added.
More details at www.euromonitor.com
--BERNAMA
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