Coffee Concentrates, Essences and Extracts Global Market Report 2024

The coffee market size has grown strongly in recent years. It will grow from $64.99 billion in 2023 to $69.63 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. Historically, the expansion in the coffee concentrate, essence, and extract market stemmed from the significance of coffee in cultural and social contexts, its global trade influence, the emergence of café culture emphasizing specialty coffee, evolving consumer tastes, and prevailing economic conditions.

The coffee market size is expected to see strong growth in the next few years. It will grow to $89.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the upcoming period within the coffee concentrate, essence, and extract market is linked to the prevailing health and wellness trends, the emphasis on sustainable and ethical sourcing practices, the increasing premiumization of specialty coffee, the burgeoning e-commerce and online retail sphere, and the ongoing expansion of the global market. Noteworthy trends expected in this period encompass integrating technology into coffee production, diversifying coffee into alternative formats, exploring diverse coffee origins, addressing packaging sustainability concerns, and focusing on cultural and experiential aspects of coffee consumption.

The anticipated rise in coffee consumption is set to drive the growth of the coffee concentrate, essence, and extract market. Coffee, derived from roasted coffee beans, is increasingly preferred due to its various benefits such as enhancing mental acuity, uplifting mood, and boosting metabolism. This heightened preference for coffee contributes to the escalating demand for coffee concentrate, essence, and extracts. In November 2022, the International Coffee Organization (ICO), a UK-based federal agency for coffee, reported a 1.6% increase in the export of coffee extract in the first two months of 2022/23, reaching 19.56 million bags compared to 19.25 million bags during the same period in 2021/22. The growing consumption of coffee is a pivotal factor propelling the coffee concentrate, essence, and extract market.

The increasing consumer demand for novel and unique flavors is expected to be a driving force for the growth of the coffee concentrate, essence, and extract market. Consumers' inclination towards unique taste experiences fosters product innovation, leading to the introduction of diverse flavor profiles and customization options. This trend encourages culinary exploration, increases brand competitiveness, and expands the market as consumers seek distinctive flavor options in their food and beverages. The popularity of artisanal and craft beverages, the influence of mixology, and the rise of flavored cold brews contribute to the market's expansion. For example, a September 2022 report from Simpsons Beverage Supply Co Ltd, a UK-based flavor manufacturing company, indicated that around 80% of coffee enthusiasts personalize their beverages, often utilizing flavored coffee syrups. The increasing demand for new and unique flavors is a significant driver for the growth of the coffee concentrate, essence, and extract market.

The introduction of innovative products stands out as a notable trend gaining traction in the coffee concentrate, essence, and extract market. Major industry players are focusing on creating innovative products to enhance their market position, with a strong emphasis on product differentiation and innovation. In March 2023, Reborn Coffee, a US-based specialty coffee retailer, launched a line of unique and super-premium cold brew ice creams using coffee extract and concentrates. This new product line stands out for its use of natural ingredients, delivering excellent flavors with a rich and creamy texture, setting it apart from other ice cream brands. The emphasis on introducing innovative products is a key factor driving the growth of the coffee concentrate, essence, and extract market.

Major players in the coffee concentrate, essence, and extract market are actively engaged in developing new cold brew concentrates as part of their strategy to gain a competitive edge. Cold brew concentrate represents a highly potent and flavorful variant of cold brew coffee, achieved by steeping coarsely ground coffee beans in cold or room temperature water for an extended period. Illustratively, in August 2023, Tim Hortons, a prominent Canada-based restaurant chain, introduced the Tim Hortons Cold Brew Concentrate. This concentrated cold brew is available in four enticing flavors such as Medium Blend Black, Birthday Cake, Cinnamon Swirl, and Mocha Cereal, all crafted with 100% Arabica Beans. Packaged in convenient 32-ounce multi-serve bottles, each concentrate produces eight individual servings when prepared as directed. The user-friendly concentrate can be easily mixed with water and ice, providing the flexibility to enjoy it black or customize with milk or cream.

In November 2022, Westrock Coffee, a leading US-based integrated coffee and tea extract service provider, acquired Kohana Coffee for an undisclosed amount. This strategic acquisition empowers Westrock Coffee to expedite the development, production, and distribution of Ready-to-Drink (RTD) products in cans and multi-serve bottles to customers of both Kohana Coffee and Westrock Coffee. Kohana Coffee, a US-based coffee extract provider with a focus on Ready-to-Drink products, particularly in California, aligns with Westrock Coffee's efforts to strengthen its position in the market. The development of new cold brew concentrates remains a pivotal element in the competitive strategies of major companies in the coffee concentrate, essence, and extract market.

Major companies operating in the coffee concentrates, essences and extracts market report are Nestlé SA, The Kraft Heinz Company, Starbucks Corporation, The J. M. Smucker Company, JAB Holding Company, Strauss Coffee B.V., Luigi Lavazza S.p.A., Tata Consumer Products Limited, UCC Europe Limited, Steamy Bean Coffee LLC, The Busy Bean Coffee Co., BostonbeaN Coffee Company, JumpStart Coffee, Trung Nguyen, The Steam Room, Keurig Dr Pepper Inc., Massimo Zanetti Beverage Group S.p.A., Melitta Group, Tres Coracoes Alimentos S.A., Dunkin' Brands Group Inc., Jacobs Douwe Egberts B.V., Illycaffe S.p.A., Segafredo Zanetti S.p.A., Lavazza S.p.A., Peet's Coffee Inc., Coffee Day Enterprises Ltd., Dallmayr, Café de Colombia, Matthew Algie & Company Ltd., Löfbergs Lila AB.

North America was the largest region in the coffee concentrates, essences and extracts market in 2023. The regions covered in the coffee concentrates, essences and extracts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the coffee concentrates, essences and extracts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of these coffee concentrates include cold brew coffee concentrate, iced coffee concentrate, top roast coffee concentrate, and black coffee concentrate. Cold brew coffee concentrate involves a distinct process where roasted coffee beans are steeped in cold or room-temperature water over several hours. Varieties consist of arabica and robusta beans, offering diverse caffeine content such as regular and decaffeinated options. These products are distributed through multiple retail channels, including supermarkets, online stores, and convenience outlets.

The coffee concentrates, essences, and extracts market research report is one of a series of new reports that provides coffee concentrates, essences, and extracts market statistics, including coffee concentrates, essences, and extracts industry global market size, regional shares, competitors with a coffee concentrates, essences and extracts market share, detailed coffee concentrates, essences, and extracts market segments, market trends and opportunities, and any further data you may need to thrive in the coffee concentrates, essences and extracts industry. This coffee concentrates, essences, and extracts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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