Café: Coffee House Shop Typically Serving Coffee
Coffee is one of the flagship products of a café. Such business establishment employ innovative strategies to remain competitive in the market. These strategies include innovative and diversified menu offerings as well as upselling and cross-selling techniques.
Increase in coffee consumption is encouraging café establishments to offer brewed coffee and specialty espresso drinks such as lattes and cappuccinos.
Key Drivers of Global Café Market
Rise in demand for coffee consumption is one of the primary factors driving the café market. Growth in consumption of coffee is primarily driven by the rise in health awareness and increase in income levels in various developing and emerging countries.
Increase in coffee consumption among millennials is also driving the café market. Rise in diversification of coffees, such as decaf coffee and cold beverage coffee, has prompted the millennials to try newer types of coffee. This is anticipated to boost the café market. Furthermore, growth in trend of coffeehouses as a place for socializing among the millennials is anticipated to boost the café market.
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The number of single cup coffee brewers has been rising since the last couple of years. Single cup brewers offer convenience and freshness. They also help keep the costs down. Additionally, ease of use, good marketing, and availability of wide variety of flavors have contributed toward its popularity. This is anticipated to provide new opportunities to the café market.
Growth of Online Food Delivery Portals to Hamper Café Market
Advent of online food delivery portals is one of the key factors restraining the café market. Increase in convenience and availability of wide selection of food at reasonable rates are driving the business for online food delivery portals. This is hampering the café market, as large number of people prefer the convenience of having premium coffee in home by ordering it online.
Volatility in prices of raw materials of coffee is also adversely affecting the café market. Shortage in supply of coffee beans leads to an increase in prices of coffee in cafés, thereby resulting in sluggish growth of the café market.
Asia Pacific Offers Growth Avenues for Global Café Market
Geographically, the global café market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
The café market in Europe and North America is robust due to the high consumption rate of coffee in the countries in these regions. According to data published by the National Coffee Association, U.S., approximately 63% of the adult population in the country drinks coffee. The café market in developing regions such as Asia Pacific is anticipated to expand at a promising pace in the near future. China has experienced an exponential growth in coffee