Coffee capsules market to surpass US$9.8 billion by 2032
According to market research firm Future Market Insights, the global coffee capsules market is projected to surpass US$9.8 billion by the end of 2032.
Due to the growing demand for non-alcoholic drinks, coffee capsules are gaining widespread acceptance among consumers in recent years.
A Senior research analyst from Future Market Insights says the rising consumption of coffee along with increasing demand for fast and effortless coffee solutions in the hospitality industry are projected to augment the sales of coffee capsules.
The report says coffee makers prefer coffee capsules due to their versatility, ease of use, and compatibility with a wide range of coffee goods and technology.
Rising expenditure on nutritional and healthy products is also improving demand in the market.
The report says easy availability, convenience, brand experience, premium positioning, and the makers’ ability to develop and supply new goods are some of the key factors propelling demand.
The report also estimates that the coffee capsule market will rise due to technological advancements in coffee machines and availability to such machines to use coffee capsules.
Nestle Nespresso, Starbucks Corporation, Lavazza, Gourmesso, Gloria Jean’s Coffees are identified as key players operating in the coffee capsules market.
These tier one players in the market are expected to hold 25 to 30 per cent of the global coffee capsules market.
Bestpresso Coffee, Kiss Me Organics, the Kraft Heinz Company, Dunkin Brands, and Keurig are noticeable players.
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Source: GCR Mag