The global espresso coffee market size will grow by USD 3.83 billion during 2019-2023. This report offers an analysis of the market based on end-users (homes and offices and coffee shops and others). The espresso coffee market research report further presents in-depth insights on the growth prospects of the market across APAC, Europe, MEA, North America, and South America. The report analyzes the market’s competitive landscape and offers information on several companies including JAB Holding Company, LUIGI LAVAZZA SPA., Massimo Zanetti Beverage Group, Nestlé, and Starbucks Coffee Company.

To identify growth opportunities in the espresso coffee market, the market has been segmented into regions that are growing faster than the overall market. These regions have been pitted against regions that have a slower growth rate than the global market in 2018-2023. APAC and South America will grow faster than the overall market. The growth of Europe, MEA, and North America will be slower than the global market.

Below are some of the key findings from this espresso coffee market analysis report

Espresso Coffee Market

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Global espresso coffee industry overview

The launch of new products is one of the critical reasons that will drive espresso coffee market growth. Vendors are focusing on increasing their revenue flow by successfully launching new espresso and coffee products. Vendors have also launched products in the ready-to-drink format and various flavors including vanilla, mocha, and caramel. Numerous key market players are trying to distinguish their products in the market by introducing products that have a mild and smooth taste when compared to other espressos. The penetration of a new set of espresso-based drinks including Americano, vanilla cappuccino, and caramel macchiato are gaining popularity among many consumers. With the growing popularity of espresso coffee, especially among the millennial population, the market will witness considerable growth during the forecast period.

Additionally, the growing popularity of espresso-based cocktails will also drive the growth of the global espresso coffee market, which will register a CAGR of almost 7% during the forecast period. With the focus to enhance their product portfolio, market players are introducing espresso-based cocktails. This is encouraging bars and pubs in developed countries such as the US to serve customers espresso-based drinks without the need for coffee brewing equipment. Vendors are also releasing RTD espresso-based cocktails in the market that are made from coffee extract and Arabica cold brew coffee. Some of these products form a distinctive creamy foam and contain alcohol such as vodka and chocolate.