Europe Coffee Market Analysis: Forecast Report 2024-203
Europe Coffee Market to Reach US$ 64.43 Billion by 2032
The Europe coffee market is expected to grow from US$ 46.14 billion in 2023 to US$ 64.43 billion by 2032, representing a compound annual growth rate (CAGR) of 3.78% from 2023 to 2032.
In recent years, Europe has become the largest and most dynamic coffee market in the world. Coffee culture in Europe is thriving, with an expanding landscape of coffee shops and an increasing presence of online retail. Following the COVID-19 pandemic, European consumers have shown a notable shift in behavior, preferring to recreate the coffeehouse experience in their own homes.
There is also a growing focus on sustainable and ethical coffee production, reflecting a heightened awareness of the environmental and social impacts of coffee consumption. This shift has driven demand for responsibly sourced and ethically produced specialty coffee.
The rise in demand has fueled the growth of small independent coffee roasters, shops, and cafés across Europe. Moreover, mainstream coffee retailers have expanded their product lines to offer a wider variety of coffee options, catering to the evolving tastes of European coffee lovers.
Europe Online Coffee Retail Market
During the pandemic, the online coffee retail sector saw significant growth, as consumers sought to recreate the coffee shop experience at home. This trend has transformed the way Europeans access and enjoy coffee, with online retailers playing a crucial role in meeting the needs of coffee enthusiasts.
Growth in European Coffee Shop Market
Despite high operating costs and low consumer confidence, most branded coffee shop markets in Europe saw an increase in the number of outlets over the past year. Countries such as the UK, Russia, France, and Turkey all experienced slight increases in store numbers. Even Ukraine, amid the challenges of Russia’s invasion, saw a notable rise in coffee shops. On the other hand, Germany saw a decrease, while Greece experienced a slight decline.
Most businesses recorded higher sales, although they had to contend with rising costs for materials and staffing. Additionally, the increase in drink prices outpaced the cost of living, prompting businesses to work harder to demonstrate value in a competitive market.
Coffee Companies Move Towards Sustainability Goals
Rising consumer concerns about sustainability are pushing demand for eco-friendly coffee, leading major multinational coffee companies to adopt sustainability programs. These initiatives incorporate certification schemes or unique responsible sourcing models.
- Starbucks developed its own sustainability standard called Coffee and Farmer Equity (C.A.F.E.) Practices.
- Nestlé launched the Nespresso AAA Sustainable Quality Program, with its Positive Cup project aiming for net zero emissions by 2035. Nestlé also aims to achieve net zero emissions in AAA green coffee production by 2030.
- In 2022, JDE Peet’s advanced its goal of sourcing 100% responsibly grown coffee by 2025, reaching 77% of the target so far. The company expanded its use of renewable energy in sites across Brazil, Europe, and New Zealand, reducing greenhouse gas emissions. It also became a key funder of World Coffee Research to support the future of coffee cultivation.
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