Decaffeinated Coffee Market: Introduction
A recent study published by Transparency Market Research on the global market for decaffeinated coffee includes North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East and Africa industry analysis and opportunity assessment for 2021–2031. With the highest market value share of 39.3%, revenue generated from the Europe market is expected to be valued at US$ 2.73 Bn in 2021, which is estimated to rise at a CAGR of 6.9%, to reach US$ 5.30 Bn by 2031.
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Shifting Consumer Preferences for Healthier Alternatives to Conventional Foods Supporting Market Growth
Coffee is among the most consumed and demanded beverages of all time and hence, it is also among the top-notch and most lucrative beverages business. The demand and supply are increasing, but along with it, the need for healthier coffee is also increasing. Thus, by reducing the amount of caffeine in the coffee, it can be turned into a healthier alternative.
Mostly working population and their busy lifestyle require a considerable dosage of energy and antioxidants. Coffee is the most popular drink, and owing to the rising awareness about eating and drinking healthy food items, a need has been created for eliminating the health damaging elements from coffee. The demand for decaffeinated coffee is the highest among the millennial and is expected to increase with time due to growing need to stay fit.
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Decaffeinated Coffee in High Demand in Foodservice Industry
The foodservice industry is the top consumer of the decaffeinated coffee globally accounting for more than 50% of the market share. This high demand is due to the popularity of coffee house outlets. These outlets serve as the top demand accelerator for coffee businesses owing to high consumption of coffee.
This industry is also responsible for making coffee roasters and provides a wide variety of options. The increasing demand for decaffeinated coffee in this industry converges to the fact that it has outlets in most social gathering places such as offices, schools, restaurants, coffee houses, etc. in which the dominating population due to increased awareness and coffee intake are demanding low caffeine coffees.
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Increasing Per Capita Coffee Intake Offers Lucrative Opportunities for Decaffeinated Coffee Makers
The increasing per capita coffee consumption in various countries is acting as a demand accelerator for decaffeinated coffee. People who are addicted to drinking coffee more on a daily basis are creating profitable market growth opportunities for the global decaffeinated coffee market, since high consumption of conventional coffee may lead to health issues in individuals.
This, along with the increasing need for enriching beverages, may propel the global market for decaffeinated coffee. These factors are projected to accelerate the demand for healthier options such as decaffeinated coffee.
Rising Demand for ‘Free-From’ Food, Beverages Creating Growth Opportunities
Rapid urbanization and growing literacy have resulted in more awareness in consumers than ever before. Today, consumers want “high quality” products, and intend to know all its constituents and processing. Thus, major manufacturers are providing products that are free-from or contain negligible amounts of preservatives, artificial sweeteners, and flavors.
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Moreover, national and international food safety regulations and standard operating procedures’ compliance have also forced many manufacturers to eliminate the use of such additives while processing.
- For instance, Tim Hortons is ensuring that its coffee does not contain even the minuscule concentration of harmful additives such as nicotine or MSG due to the decline in consumption
Global Decaffeinated Coffee Market Segmentation
Decaffeinated Coffee Market by Nature
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