Single-Serve Coffee Container Market: Global Size, Share, Trends, Growth and Forecast 2022-2032
Single-Serve Coffee Container Market: Overview and Definition
The global single-serve coffee container market size was estimated at USD 4.2 billion in 2021 and is expected to reach USD 7.5 billion by 2032, growing with a CAGR of 5.7% over the forecasted period of 2022 to 2032. A single-serve coffee container is a process for coffee brewing which prepares enough amount of coffee for a single portion. Moreover, single-serve coffee container can decline the time which is needed to brew coffee and streamline the brewing procedure by reducing the need to flavorings and additives.
Raising use of single-serve coffee container in commercial places such as corporate offices, hotels, restaurant, industrial, hospitals and others has augmented the growth of the market. Moreover, engaged manufacturers are regularly adapting the evolving requirements of the commercial industry by innovating and modifying existing single-serve coffee container. As a result, frequent product launches especially for the commercial purposes have been observed in the last couple of years. Increasing urbanization coupled with a raising urban population in the developing countries like China, Africa and India are strongly influencing the lifestyle pattern. Moreover, raising consumer shifting towards the metro cities for a better life style and standards as well as asking urban population has further boosted the growth of the single-serve coffee container market. Furthermore, consumers are willing to purchase single-serve coffee container to create the café style experience at home. The leading player in the single-serve coffee container market are introducing coffee pods that are adjustable with popular machines.
Hypermarkets/supermarket stores is grasping popularity due to the availability if broad range of consumer goods products under a single roof along with large amount of parking space and conventional operating times. Moreover, manufacturers are continuously making efforts to increase shelf visibility of their products and hence they are majorly targeting specialty stores. As a result, great variety of single-serve coffee container are available in hypermarkets/supermarket. Moreover, hypermarkets/supermarket stores provides great amount discount which result in attracting more and more customer, hence resulting in boosting the single-serve coffee container market. Furthermore, increase in social media advertisement by stakeholders has further augmented the growth of the market. Moreover, easy obtainability of information about the material used in single-serve coffee container, time-saving feature and the facility of home delivery contributes towards the growth of the online sales channel. Moreover, the raise in penetration of diversified online portals in emerging regions and the increase in number of discounts or offers which influence the customers to purchase single-serve coffee container through e-commerce channels. Moreover, e-commerce channels have raised the customer reach due to which is has become as a key source of revenue for many companies. In addition, the e-commerce market is anticipated to increase in the near future owing to rapid increase in online and mobile use customer base in developing and developed markets.
North America market holds the major share in the year 2019 and it expected to retain its dominant during the forecast period. Increase in population and improved lifestyle are the major factors that boost the growth of the single-serve coffee container market. Raising purchasing power in this region is the prime factor which contributes towards the growth of the single-serve coffee container market.
By type analysis, the single-serve coffee container market is segmented into pods and capsules. The capsules segment holds the major market share and it is expected to retain its dominance during the forecast period owing to its increase in consumption in North America and Asia-Pacific region.
On the basis of application, the single-serve coffee container market is commercial and residential. The commercial segment holds the major share owing to increase in use of single-serve coffee container in offices, hospitals, airports, collages, hotels and others.
By distribution channel, the single-serve coffee container market is segmented into hypermarkets/supermarket, specialty stores, brand stores, convenience and online sales channel. Specialty stores are small retail outlets that focus on selling a particular range and associated items. Specialty stores maintains considerable depth in the type of product that they specialize in selling premium prices products. Moreover, manufacturers are continuously making efforts to increase shelf visibility of their products and hence they are majorly targeting specialty stores. As a result, great variety of single-serve coffee container products are available in specialty stores. Moreover, specialty stores provides great amount discount which result in attracting more and more customer, hence resulting in boosting the single-serve coffee container market.
Key Companies Profiled
The global single-serve coffee container market is characterized by the presence of various small and big players. The major market player includes Keurig Green Mountain, Inc., Nestlé Nespresso S.A., Hamilton Beach Brands, Inc., BUNN-O-Matic Corporation, Sunbeam Products, Inc., LUIGI LAVAZZA SPA, De’Longhi Appliances S.r.l. JURA Elektroapparate AG, Spectrum Brand Holdings, Inc., and Krups GmbH. As the market is competitive in nature, the players are indulged in raising their competitive share by means of strategic initiatives like mergers, new product and acquisitions.