CAFE MARKET ANALYSIS
Market Drivers
Increasing coffee consumption is driving growth of this market. According to the International Coffee Organization (ICO), the global consumption of coffee was 151.7 million bags in 2014-2015 and it increased up to 158.9 million bags in 2017-2018.
Increasing use of e-commerce platforms such as online delivery apps for ordering food and beverages is further boosting growth of this market. According to the India Brand Equity Foundation (IBEF), in 2016, the gross merchandise value (GMV) of online food industry was US$ 300 million and grew at 150% year-on-year.
Among region, Europe is expected to generate significant market share in terms of revenue in the global café market, owing to increasing demand for coffee in the region.
Among region, Asia Pacific is expected to be a lucrative market for cafés over the forecast period. This is attributed to increasing expansion by established brands in India. For instance, in February 2019, Tata Starbucks, a joint venture between Starbucks Coffee (U.S.) and Tata Global Beverages, planned to open more 10 café stores by the end of the year in India.
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