Specialty Coffee Market Size, Share, Growth Analysis, By Application(Home, and Commercial), By Distribution Channel(Supermarkets/Hypermarkets, Convenience stores) - Industry Forecast 2024-2031

In 2022, Europe emerged as the dominant region in the global specialty coffee market, capturing a significant share of 30.8%. This dominance can be attributed to the rising interest in premium specialty coffee varieties among European consumers. A report by CBI highlights the rapid growth of specialized coffee shops in Western Europe, where consumption of high-quality coffees is on the rise. Between 2018 and 2020, the number of coffee shops offering specialty coffee in Western Europe increased by 18% to reach 24,290 in 2020. The expansion of mainstream coffee players, increasing disposable incomes, and a more sophisticated coffee culture are driving the growth of the specialty coffee market in this region.

The Asia Pacific region is expected to witness the fastest growth in the specialty coffee market, with a projected CAGR of 13.6% from 2023 to 2030. This growth is fueled by several factors, including the growing popularity of pickup shops, rapid urbanization, and the adoption of modern lifestyles. As the region embraces Western coffee culture, there is an increasing demand for specialty coffee among Asian consumers. The emergence of pickup shops, which offer convenient access to specialty coffee on-the-go, has further contributed to the market's expansion. The evolving preferences and lifestyles of consumers in Asia Pacific present a significant opportunity for the specialty coffee market to thrive in the coming years.