Coffee Roaster Market to Reach $741.90 Mn, Globally, by 2031 at 5.2% CAGR: Allied Market Research
Rise in demand for easy-to-use coffee roasting machines and various innovations &advancements in technology drive the growth of the global coffee roaster market.
PORTLAND, Ore., Aug. 3, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Coffee Roaster Market by Type (Drum, Hot Air, Stove Top, Others), by Category (Electric Roaster, Gas Roaster), by End User (Commercial, Residential), by Distribution Channel (Business to Business, Specialty Stores, Hypermarkets and Supermarkets, Online Sales Channels): Global Opportunity Analysis and Industry Forecast, 2021-2031."According to the report, the global coffee roaster industry generated $448.90 million in 2021, and is expected to reach $741.90 million by 2031, witnessing a CAGR of 5.2% from 2021 to 2031.
Drivers, Restraints, and Opportunities
Rise in demand for easy-to-use coffee roasting machines,surge in number of coffee shops and other coffee-serving establishments, and various innovations &advancements in technology drive the growth of the global coffee roaster market. However, high initial investment costs restrain the market growth. On the other hand, increase in coffee drinking culture and research activities regarding the smell of coffee and roasting coffee as a method of aromatherapy present new opportunities in the coming years.
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The drum segment to maintain its leadership status during the forecast period
Based on type, the drum segment contributed to the highest market share in 2021, contributing to more than one-third of the global coffee roaster market, and is expected to maintain its leadership status during the forecast period. This is due topreference by professional and commercial sectors for their durability and precise control over functions such as rotation speed, temperature control, and duration of roastig. The report also analyzes the segments including hot air, stove top, and others.
The gas roaster segment to maintain its lead position during the forecast period
Based on category,the gas roaster segment held the highest market share in 2021, accounting for nearly three-fifths of the global coffee roaster market, and is expected to maintain its lead position during the forecast period. This is attributedtoits popularity for coffee roasting among purists and enthusiasts and quick coffee-making process.However, the electric roaster segment is projected to manifest the fastest CAGR of 5.8% from 2021 to 2031, owing to ease of use, lack of manual efforts, and precision along with additional features such as temperature control and timers.
The commercial segment to maintain its lead status by 2031
Based on end user, the commercial segment accounted for the largest market share in 2021, holding nearly three-fourths of the global coffee roaster market, and is expected to maintain its lead status by 2031. This is due torise in investments in commercial spaces such as airports, hospitals, hotels, restaurants, among others.However, the residential segment is projected to manifest the fastest CAGR of 6.2% from 2021 to 2031, owing toincrease in standards of living and the know-how about the benefits and taste of coffee.
The business to business segment to maintain its dominance in terms of revenue by 2031
Based on distribution channel, the business to business segmentcontributed to the largest market share in 2021, accounting for nearly two-fifths of the global coffee roaster market, and is expected to maintain its dominance in terms of revenue by 2031. This is attributed torise in outdoor dining trend and surge in number of quick service restaurants. However, the online sales channels segment is projected to manifest the fastest CAGR of 6.6% during the forecast period. This is due torise in mobile phone adoption and increase in Internet penetration along with wide adoption in developed countries.
Europe to maintain its lead position in terms of revenue during the forecast period
Based on region, Europeheld the highest market share in 2021, accounting for nearly two-fifths of the global coffee roaster market, and is expected to maintain its lead position in terms of revenue during the forecast period. This is due torise in consumption of different varieties of coffee across the region and improved distribution channels. However, Asia-Pacificis projected to grow at the highest CAGR of 7.2% from 2021 to 2031. This is attributed tochanges in taste & preferences of consumers, rise in number of fast food restraint/trucks, adoption of western lifestyle, and the presence of commercial complexes and offices.
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