A specialty coffee is kind of coffee which has scored more than 80 out of 100 points can be marked as “specialty coffee.” These kinds of coffees are produced in ideal and special climates. Specialty coffees are distinctive as their little to full cup taste to no deserts. However, generally, a specialty coffee shop produces more than 55% of sales from specialty coffee and related products.
On the other hand, specialty coffee is majorly categorized depending on the traceability, quality, and thorough preparation. However, nowadays many coffee shops offer a complete bean single-origin blends and coffees for their consumers.
Growing urbanization across the globe has led to improved disposable income and shifting living standards. In addition, the urban living standard has resulted in lifestyle disorders and worsening health conditions due to unhealthy eating routine. However, consumers from urban areas are increasingly seeking healthier and premier alternatives. On the other hand, in the United States, the consumption of specialty coffee and gourmet beverages are rising at a rapid pace. Therefore, retailers and manufacturers are growing the awareness regarding organic beverages among customers to improve their position in the market across the globe. Product offerings like shade-grown coffee, fair-trade coffee, and organic coffee products will draw consumer with a huge interest in ethical and sustainability issues.
The growing number of gourmet coffee shops established in several urban areas in the Asia Pacific region is one of the significant growth factors of the specialty coffee market. In addition, America is also one of the prime providers of the specialty coffee market. The increasing growth of the specialty coffee market will be attributed to presenting new items in the shop menu, establishing new shops, and the growing demand for convenience and customization from the consumers across the globe.
European specialty coffee market was the major manufacturer in terms of volume and value in the years 2017, followed by North America. However, the rapidly growing number of specialty coffee shops with local coffee baristas and brands are fueling the growth of the specialty coffee market of Europe. Some major nations in Europe such as Germany, the U.K., and Italy are hugely contributing to the growth of the market. On the other hand, North American market witnessed a huge growth, which is largely attributed to growing specialty coffee consumption in the United States majorly amongst the younger people. Therefore, the retail value of the United States specialty coffee market is projected to be USD48 billion with including more than 55% of value share.