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New Report Forecasts Growing Coffee Shop Culture to Increase Coffee Intake Globally
CoffeeNetwork (New York) – A new report by Market Research Reports Biz Pvt. Ltd. titled "Global Coffee Market (2017-2021 Edition)," notes that the global market for coffee is expected to rise at a certain steady pace in the years ahead. It has also been projected that it might gain significant momentum in the years ahead owing to rising consumption of coffee in several parts of the globe. The growing intake of coffee across several age groups is expected to act as a substantial driver for the global coffee market in the years ahead. There are several different types of coffee across the globe. The most famous among them is Robusta and Arabica. These types of coffees are employed for pharmaceuticals, dietary supplements, food, and personal care. The demand for coffee is expected to show significant rise in Asia Pacific and North America owing to lifestyle changes and shifting preferences regarding taste of consumers in these regions. The presence of coffee shop chains such as Starbucks and Peet's Coffee & Tea have furthered triggered a huge coffee consumption wave among the young population across the globe.
The global market for coffee is also expected to be benefitted by the use of coffee in the manufacturing of a broad range of chocolates, baked goods, and personal care products, among many others. The rising disposable income of people is another factor that is anticipated to supplement the progress of the market in the years to come. The expanding number of retail chains is also projected to benefit the market for coffee in the years to come. The emergence of a cafe culture and rapid urbanization are further expected to bolster the growth of the global coffee market.
The increasing intake of coffee among the working population is an additional factor that might have a substantial impact on the demand for coffee over the forecast period. However, lack of government support along with price volatility, growing cost of production, and climate change might have an adverse effect on the development of the global coffee market.