The new Coffee Creamer Market Research from Technavio indicates Positive and Superior growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Coffee Creamer Market 2020-2024 (Graphic: Business Wire)
“One of the primary growth drivers for this market is the Growing Adoption of a Plant-based Diet,” says a senior analyst for Consumer Staples at Technavio. There is a growing inclination toward a plant-based diet across the globe because of increasing concerns regarding animal welfare, personal health, and sustainability. As a result, several vendors in the coffee creamer market are focusing on offering plant-based coffee creamers. Companies are already offering coffee creamers in various flavors, including soy, almond, and coconut. Vendors are also introducing products in oats, flax seeds, quinoa, hemp, and chia seed flavors that are widely consumed by women, millennials, and gen-z consumers. The growing adoption of a plant-based diet will further fuel the demand for plant-based coffee creamers, driving the growth of the global coffee creamer market. As the markets recover Technavio expects the coffee creamer market size to grow by USD 2.40 billion during the period 2020-2024.
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Coffee Creamer Segment Highlights for 2020
- The coffee creamer market is expected to post a year-over-year growth rate of 3.17%.
- Liquid coffee creamer dominated the market in 2019.
- Liquid coffee creamer is available in a thick fluid form, which has a milky and creamy texture. Moreover, vendors offer liquid creamer in different packaging solutions such as plastic pouches, pump bottles, canes, and spray aerosols for easy pouring without any spills.
- Also, liquid coffee creamer is easily soluble in any hot or cold ready-to-drink beverage, reducing the manual effort and time to prepare coffee recipes. These factors are increasingly driving sales of liquid coffee creamers.
- The coffee creamer market share growth by the liquid segment will be significant during the forecast period.
Regional Analysis
- 32% of the growth will originate from the North America region.
- Factors such as the flourishing coffee industry and coffee being the most-consumed beverage in North America will significantly drive coffee creamer market growth in this region over the forecast period.
- The US is a key market for coffee creamer in North America. Market growth in this region will be slower than the growth of the market in APAC, South America, and MEA.
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Notes:
- The coffee creamer market size is expected to accelerate at a CAGR of over 4% during the forecast period.
- The coffee creamer market is segmented by type (liquid and powder) and geography (North America, Europe, APAC, South America, and MEA).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Barry Callebaut AG, CAFEA GmbH, Chobani Global Holdings LLC, Danone SA, Fujian Jumbo Grand Food Co. Ltd., Laird Superfood Inc., Nestle SA, Royal FrieslandCampina NV, TreeHouse Foods Inc., and TURM-Sahne GmbH.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Coverage
Regions Covered
Topics Covered
COVID-19, Coffee Creamer, Coffee
View source version on businesswire.com: https://www.businesswire.com/news/home/20200914005657/en/
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