Coffee Franchise Market to Reach $200.3 Billion by 2031 at 8.3% CAGR: Allied Market Research
The global coffee franchise market is dominated by popular chains such as Starbucks, Barista, and Café Coffee Day. Their success is attributed to their excellent menu offerings, promotional offers, discounts, and strategic locations, which have attracted a large customer base.
Portland, OR, April 13, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Coffee franchise Market by Cuisine (Lunch, Brunch, Coffee and Bar), by Delivery Type (Dine-in, Dine-out): Global Opportunity Analysis and Industry Forecast, 2021-2031″. According to the report, the global Coffee Franchise industry generated $90.7 billion in 2021, and is anticipated to generate $200.3 billion by 2031, witnessing a CAGR of 8.3% from 2022 to 2031.
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Prime determinants of growth
The global coffee franchise market is dominated by popular chains such as Starbucks, Barista, and Café Coffee Day. Their success is attributed to their excellent menu offerings, promotional offers, discounts, and strategic locations, which have attracted a large customer base. However, the high initial investment required to establish a coffee franchise is likely to discourage new entrants from joining the market, which impedes the market growth. Despite this, the coffee franchise industry is expected to continue growing as established players introduce innovative marketing strategies and advertising campaigns.
Report coverage & details:
|Market Size in 2021||$90.7 billion|
|Market Size in 2031||$200.3 billion|
|No. of Pages in Report||400|
|Segments covered||Delivery type, cuisine, and region.|
|Drivers||Increasing consumer demand for high-quality coffee and related products
Increasing consumer demand and brand recognition
|Opportunities||Coffee franchises often offer a range of products and services beyond just coffee, such as food items, merchandise, and catering services which brings myriad opportunities for the business|
|Restraints||The high startup costs for these franchises|
- Due to the Covid-19 pandemic, the global coffee franchise market experienced a decline as a result of temporary shutdowns of food establishments during the lockdown period.
- The pandemic caused disruptions in supply chains, making it challenging for coffee franchises to acquire necessary products and ingredients, resulting in shortages, increased prices, and delivery delays. Additionally, changes in consumer behavior due to the pandemic caused a shift toward home-brewed coffee, causing a decline in sales for some coffee franchises, especially those that rely on in-store purchases.
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The dine-in segment to maintain its leadership status throughout the forecast period
Based on delivery type, the dine-in segment held the highest market share in 2021, accounting for nearly three-fourths of the global coffee franchise market revenue and is estimated to maintain its leadership status throughout the forecast period. Customers in this market are mostly drawn to it by the flavor and high quality of the food. Furthermore, tasty cuisine can make up for any inadequacies in the dine-in customer experience. The dine-out segment, on the other hand, is projected to manifest the highest CAGR of 8.7% from 2022 to 2031, as it offers customers the comfort of carrying their coffee to wherever they wish to.
The coffee and bar segment to maintain its leadership status throughout the forecast period
Based on cuisine, the coffee and bar segment held the highest market share in 2021, accounting for nearly half of the coffee franchise market revenue and is estimated to maintain its leadership status during the forecast period. In addition, the same segment also portrays the largest CAGR of 8.6% from 2022 to 2031. This is because the establishment specializes in serving coffee of all varieties, most notably espresso, latte, and cappuccino.
Asia-Pacific to maintain its dominance by 2031
Based on region, the Asia-Pacific segment held the highest market share in 2021, contributing to nearly one-third of the coffee franchise market revenue and is estimated to rule the roost throughout the forecast period. The same region is also expected to manifest the fastest CAGR of 9.2% from 2022 to 2031. This is attributed to the presence of a huge population of youth and the rapid economic growth of developing countries.
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Leading Market Players: –
- Nescafe Coffee Shop
- Cafe Coffee Day
- Starbucks Coffee Company
- Barista Coffee Company Limited
- Brew Berrys Hospitality Pvt. Ltd
- Ellianos Coffee Company
- Cafe Barbera
- Ziggi’s Coffee
- Coffee Beanery
- Dunn Bros Coffee Franchising, Inc.
- The Human Bean
- Xpresso Delight, LLC
The report provides a detailed analysis of these key players in the global coffee franchise market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.
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