The value of the specialty coffee market is expected to reach $152.69 billion by 2030
A recent survey conducted by Brainy Insights indicates that the specialty coffee industry is poised for substantial growth, with its value anticipated to soar to US$152.69 billion by 2030. This projection signifies a robust growth rate of 12.32% throughout the forecast period.
Sandra Moraes, the Specialty Coffee Manager at the Cerrado Coffee Growers’ Cooperative (Expocacer), highlights the burgeoning demand for specialty coffee and the promising prospects it presents for producers. She elaborates on the Essências initiative, tailored to support small and medium-sized coffee growers transitioning into specialty coffee production. The program offers personalized guidance on post-harvest processes, ensuring adherence to quality standards while accommodating the unique characteristics of each crop.
The research further reveals a remarkable surge in the North American specialty coffee market, with an expected annual growth rate of 20% until 2030, positioning it as the world’s fastest-growing market segment.
Expocacer’s Executive President, Simão Pedro de Lima, underscores the significance of this trend by discussing the establishment of a logistics hub in the United States, the largest consumer of their coffee. The majority of the coffee beans shipped to the hub are of specialty grade, reflecting the company’s commitment to capitalizing on the burgeoning demand for high-quality coffee. Initial plans entail the delivery of one container per week, each containing approximately 320 bags of 60-kilograms of coffee. This endeavor aims to invigorate both the economy and the consumption of specialty coffees, which continues to experience upward momentum.
The inauguration of the hub is anticipated to yield substantial results, with an expected increase in North American market sales by 10 to 15% within the first year alone. Brazilian Agricultural Research Corporation data indicates a steady annual growth rate of 12% in global consumption of Brazilian specialty coffee in recent years.
Pedro de Lima emphasizes the evolving consumer preferences, emphasizing the importance of transparency and sustainability in coffee production. He underscores Expocacer’s commitment to meeting these demands, with the hub facilitating improved traceability and showcasing the stories behind each cup of coffee.
