The global coffee grounds market size is expected to reach US$ 214.3 Mn by the end of 2030. According to the recent study by Future Market Insights (FMI), the market will surge at 5.5% CAGR between 2020 and 2030. According to the report, the market will show significant growth owing to the increasing applications of coffee grounds in agriculture, food and beverages, cosmetic, insecticides and pesticides and other industries. The report adopts unique research methods to offer the most accurate analysis of the market.
It includes in-depth insights into the coffee grounds market. Some of these are:
- The estimated value of the coffee grounds market was at US$ 125.4 Mn in 2020
- Coffee grounds are used as fertilizer in agriculture sector. They add essential nutrients to the soil, thus improving soil aeration, drainage and water retention
- North America currently accounts for the leading share in the global coffee grounds market, trailed by Europe
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“The demand for beauty products is expected to be driven by increasing concerns among consumers about skin related problems. Furthermore the rising demand for organic products will bolster use of coffee grounds as a key ingredient in beauty products,” said a lead analyst at FMI.
COVID-19 Outbreak will Impact Growth Due to Supply Disruptions and Decline in Demand
Shippers are dealing with quarantines at ports and shortages of crews during the coronavirus shutdown. As regards to demand, it is clear that coffee consumption is on the rise and will continue to rise in the near future. However, coffee grounds derived may go to waste since the supply is high and there are chances of grounds to get rot. Coffee grounds cannot be stored for a long time. Trade and logistics restrictions could cause demand-supply gap and might affect the manufacturers and end users of coffee grounds.
Who is Winning?
Some of the key players in the coffee grounds market are Starbucks, Red Thread, Death Wish Coffee Company, Folgers Coffee, The Kraft Heinz Company, Peet’s, Jo Coffee, Kicking Horse, Royal Kona, Hills Bros. Coffee, UCC among others. The market players are adopting various expansion strategies to gain competitive edge. For instance, they are increasing their research and development spending and focusing on product launches. Also, they are entering into collaborations with other companies to utilize the resources of each other and to outperform prevailing competition.
For Information On The Research Approach Used In The Report, Ask Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-11629
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 Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.