The global coffee capsule sector is projected to be worth more than $9.8 billion (€9.27 billion) ten years from now, a new study by Future Market Insights has found.
The study found that the conventional plastic coffee capsule market is set to create an incremental $2.2 billion opportunity between 2022 and 2032, while the commercial coffee capsule segment is set to accelerate at a CAGR of 4.6% over the same period.
In Europe in particular, consumption is expected to rise 'significantly', while India is set to be the most lucrative market across Asia in the assessment period.
Furthermore, growing influence of western trends in Middle East and Asia Pacific will benefit the new entrants in the market.
“Rising consumption of coffee along with increasing demand for fast and effortless coffee solution among cafés and restaurants are projected to augment the sales of coffee capsules," a Future Market Insights research analyst said. "Also, the compatibility of coffee capsules with different machines is estimated to create growth opportunity for the coffee capsules manufacturers."
Among the key players set to be driving growth in this segment are Nespresso, Starbucks, Lavazza, Gourmesso and Gloria Jean's Coffees, with additional growth coming from Bestpresso Coffee, Kiss Me Organics, the Kraft Heinz Company, Dunkin Brands, and Keurig.
Tier 1 players in the marketplace – which include Nespresso and other major brands – are expected to hold between 25% and 30% of the global coffee capsules market by period end, the study found.