Monday, 15 June 2020 05:00 AM
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Emphasis on organic farming has prompted farmers to utilize natural fertilizers to enrich their soils, providing immense traction to the coffee grounds market. The presence of key nutrients such as nitrogen and phosphorus which are important for plant growth makes them suitable for usage in the agriculture sector
DUBAI / ACCESSWIRE / June 15, 2020 / Future Market Insights: Coffee as a beverage has been surging in popularity since time immemorial. Whether consumed during breakfast or in between meal times as a casual drink, coffee consumption has registered an uptick amongst people of all age groups. This has led to an overall increment in coffee production. With increased coffee production also comes greater amount of residue and waste generation. Coffee wastes are generally in the form of coffee grounds, which are typically obtained as a by-product of roasted coffee beans. Due to its organic nature, coffee grounds have found widespread acceptance amongst a host of applications.
The global coffee grounds market is slated to register moderate growth throughout its forecast period from 2020 to 2030, driven by extensive applications across agriculture, cosmetics & personal care, manufacturing of insecticides & pesticides and food & beverages. The coronavirus pandemic, unfortunately, has led the coffee grounds market into doldrums, impacting all end-use industries due to supply crunches. Coffee shops have shuttered due to falling demand for ready-to-drink coffee due to social distancing measures. Leading manufacturers have factored in this slump and are making efforts to mitigate the adverse impacts of the pandemic to keep the market afloat.
"Coffee grounds have acquired immense popularity due to the multifarious environmental benefits it offers, notably, enhanced soil quality and water conservation. Furthermore, dawning of understanding amongst farmers about the role of coffee grounds in promoting plant-based microbiological activities shall increase their adoption in the future," infers an FMI analyst.
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Coffee Grounds Market- Important Takeaways
- Agriculture sectors shall dominate the coffee grounds due to the extremely high nutritional value possessed by them. Additionally, its organic nature prevents soil degradation.
- Insecticides & Pesticide manufactures shall extensively use coffee grounds as a raw ingredient as the high caffeine content proves toxic for insects and pests, protecting crops from damage.
- North America dominates the coffee ground market in terms of region due to the high proportion of coffee consumption and is expected to retain this dominance throughout the forecast period.
- Asia-Pacific is poised to emerge as a lucrative market, owing to rising coffee consumption across emerging economies such as China & India.
- A modest CAGR of 5.5% is pegged for the coffee grounds market from 2020-2030.
Coffee Grounds Market- Prominent Drivers
- Increasing preference for organic cosmetics due to their safety while applying on the skin shall bode well for the coffee grounds market in the cosmetics industry.
- Coffee grounds also possess the ability to neutralize foul odors. Therefore, their usage as deodorizing agents shall impel the overall market growth.
- Market players are focusing on product innovations in order to remain afloat in the coffee grounds market, indirectly contributing to the flourishing of the market.
Coffee Grounds Market- Key Constraints
- Falling coffee consumption amongst consumers due to concerns over high caffeine content shall restrain the coffee grounds market as coffee cultivation is reducing.
- Logistical difficulties encountered as a result of the lockdowns imposed due to coronavirus is leading to accumulation of coffee produce which can rot over a period of time, leading to significant losses.
Anticipated Impact of the COVID-19 Outbreak
Since the pandemic's outbreak, coffee shipments worldwide have registered impediments attributed to the curbs imposed on trade following government directives to impose total lockdowns on the movement of people and goods across borders in order to contain the spread of the virus. While coffee consumption has not wavered, transportation curbs have led to an accumulation of coffee ground stocks which have a tendency to rot while in storage. This is leading to immense losses to coffee manufacturers as well as end-use industries. As a consequence, a demand-supply gap has been generated which will take a long time to recover from.
Shortages in availability of coffee grounds have led to a steep increase in their prices, rendering them unaffordable by end-users. Moreover, coffee farmers are facing immense problems selling their produce in the market due to the unavailability of potential buyers, causing them to forgo their revenue. Moreover, on the demand side, a dip in discretionary spending during the pandemic has reduced consumption of several products, including coffee and coffee ground-based foods, cosmetics and fertilizers, particularly in developing countries. However, the market is expected to remain afloat with demand being sustained from developed economies as consumers resort to online shopping.
Explore the global coffee grounds market comprising of 72 illustrative figures, 64 data tables and the table of contents. You can also find a comprehensive market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-11629
Competition Landscape
Prominent market players in the coffee grounds market include, but are not limited to: Starbucks, Red Thread, Jo Coffee, The Kraft Heinz Company, Royal Kona, UCC, Hills Bros Coffee, Folgers Coffee and Death Wish Coffee Company among others. Enhancement of research and development capabilities to pave way for new product launches, expansion through collaborations and extensive digital marketing through social media platforms are providing the abovementioned market players with a competitive edge. The companies are also collaborating with coffee ground manufacturers to develop products such as coffee flour which can be used in the manufacturing of bakery & confectionary, snack bars and pasta & pizzas.
Get Valuable Insights into Coffee Grounds Market
Future Market Insights, in its new report, presents an unbiased analysis of the global coffee grounds market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights into growth witnessed in the market. On the basis of applications, the market is segmented into agriculture, cosmetics, insecticides and pesticides. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA.
About Food & Beverages division of FMI
Expert analysis, actionable insights, and strategic recommendations - the Food & Beverages team at FMI helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 100+ countries for over a decade. The team provides end-to-end research of the global food & beverage market and consulting services; know how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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