Global market research company Euromonitor International examines the holistic world of coffee, looking at the evolution of how and where coffee is consumed, in a new on-demand webinar.
Coffee is transforming as a beverage. From indulgence to energy to hydration, different approaches to serving capitalise on coffee’s versatility and expand drink options. Euromonitor International’s webinar, “Coffee in 2018: The New Age of Coffee Everywhere”, explores new occasions and growth opportunities across the broader industry.
Global coffee shop sales will outpace growth of packaged coffee through 2022, according to Euromonitor International. Coffee shops serve as the hub of innovation, becoming a larger part of how consumers discover and purchase coffee.
“There is already talk of a fourth wave, one where the boundaries between foodservice and retail, hot and cold become increasingly blurred, with good coffee in demand through every channel,” Michael Schaefer, global lead – food and beverage at Euromonitor International, said. “This year alone, we’ve seen several deals between packaged coffee brands and coffee shops, from Nestlé partnering with Starbucks to Coca-Cola acquiring Costa Coffee.”
Consolidation is impacting how the industry will take shape as companies look to capture a greater portion of premium coffee spend. Packaged food and beverage players will continue to invest in coffee shops to have a more direct presence in foodservice.
“Successful coffee players will combine discovery, experience, long-term purchasing and rapid product innovation, all across a wide range of distribution points,” Schaefer said.
Demand for premium coffee through all channels is driving the industry with new product development and faster distribution. To understand the next wave of coffee, download Euromonitor International’s on-demand webinar, “Coffee in 2018: The New Age of Coffee Everywhere”, at http://bit.ly/2ChG9XL.
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