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Coffee Bean Market Analysis
Spend growth of this market has the potential to touch a value of over USD 7 billion with spend momentum accelerate at a CAGR of nearly 7% between 2019-2024. By virtue of being a significant source of antioxidants, coffee is believed to prevent the risks of ailments such as heart diseases, skin cancer, Alzheimer's disease, and gallbladder stones. Apart from being one of the highly demanded beverages in the food and beverage industry, coffee beans find their extensive applications in the pharmaceutical industry. This will bring drive spend growth in the coffee bean market through 2024.
Top Spending Regions in the Coffee bean Market
In terms of spend growth, North and South America will claim substantial shares in the coffee bean market with APAC expected to house the fastest-growing market during the forecast period.
North America
Most of the public places such as offices, airports, and railway stations are installed with coffee vending machines that makes this beverage easily available to people, thereby drive its consumption. This will serve as the primary growth driver in the coffee bean market in this region. In the US, the consumption trend of millennials is marked with their preference towards cappuccinos, lattes, and the like, while 22% of them like espresso. This will contribute to spend growth in the coffee bean market in this region.
South America
Countries such as Brazil, Columbia are some of the top producers of high-quality of coffee beans. Innovations made in brewing methods coupled with the consumption of high-quality and specialty coffee in countries will credited for spend growth in the coffee bean market in South America.
APAC
The growing culture of coffee consumption at coffee shops will be among the chief growth promoting factors in the coffee bean market in APAC. Vietnam is second to Brazil as the largest producer of coffee beans which will further contribute to spend growth. The surge in product launches such as coffee pods and capsules significantly contribute to the growth of Asia's coffee bean market.
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Insights Offered in this Coffee Bean Market Report
Insights into Some of the Leading Coffee bean Suppliers
The supply market dynamics hint at a substantial hike in suppliers' OPEX which will drive buyer's procurement spend. Keeping such dynamics in mind, strategic selection of suppliers and maintaining an effective supplier relationship management are observed to facilitate buyers with optimized procurement expenditure and better category management in the coffee bean market. This coffee bean market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies for the top coffee bean suppliers. The top coffee bean suppliers highlighted in this report include:
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