Sep 24, 2023

News provided by Share this article Share toX NEW YORK, Sept. 24, 2023 /PRNewswire/ -- The  specialty coffee shops market is estimated to grow by USD 39.17 billion from 2022 to 2027, growing at a CAGR of 7.43%. The specialty coffee shops market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer specialty coffee shops market are Barista Coffee Co. Ltd., BLUE BOTTLE COFFEE Inc., Brew Berrys Hospitality Pvt Ltd., Caffe Nero Group Ltd., Caribou Coffee Operating Co. Inc., Coffee Beanery, Coffee Day Enterprises Ltd., Costa Ltd., Doutor Coffee Co. Ltd., Ediya Co. Ltd., Gloria Jeans Coffees International Pty Ltd., Grupo Herdez SAB de CV, Inspire Brands Inc., Keurig Green Mountain Inc., La Colombe Torrefaction Inc., Luckin Coffee Inc., McDonald Corp., MTY Food Group Inc, Restaurant Brands International Inc., and Starbucks Co. The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying Company Offering: Brewberrys- The company operates a chain of coffee bars offering cafe franchises, including specialty coffee shops to gain a big share of the ever-growing coffee consumption market. Barista Coffee Co. Ltd. - The company offers specialty coffee shops for the choco affair range including boxes, slabs, pouches with a taste of pure cocoa For details on companies and their offerings –  Buy the report! By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America will have the largest share of the market. North America is estimated to contribute 32% to the growth of the global market during the forecast period. Customization is a key element sought after by many North American customers, especially Millennials. Specialty coffee shops offer the ability to customize coffee or other beverages to the customer's preferences. Furthermore, various companies, such as McDonald's, Coffee Day, and Starbucks, offer customization services for most of their beverage options. Companies also offer food bowls that allow customers to choose to eat food ingredients one at a time or combine all the ingredients together. In addition, the busy lifestyles of working people and students also contribute to the market growth in the region. Limited time to prepare food and drinks at home makes people choose specialty cafes to drink coffee and breakfast every day. Hence, these factors are expected to drive specialty coffee shops market growth during the forecast period. Download a sample report  to get more insights on the market share of various regions and the contribution of the segments. Impactful driver- Increasing consumption of coffee Key Trend - Increasing popularity of coffee among millennials Major Challenges - Fluctuating prices of coffee beans Market Segmentation By Type, the market is classified into independent coffee shops and chain coffee shops. The market share growth by the independent coffee shops segment will be significant during the forecast period. Technavio Research experts have provided more insights on the market share of segments - View Sample Report FAQS How big is the North America market? How do the key drivers and challenges impact the market? Related Reports: The US fast-casual restaurant market is estimated to grow at a CAGR of 11.56% between 2022 and 2027. The size of the market is forecast to increase by USD 55.4 billion. This report extensively covers market segmentation by channel (dine-in and takeaway) and product (North American, Italian, Mexican, and Others). The demand for innovation and customization in food menus is notably driving market growth. The  HoReCa market  size is estimated to grow at a CAGR of 3.41% between 2022 and 2027. The market size is forecast to increase by USD 349.22 billion. This Horeca market report extensively covers market segmentation by type (single outlet and HORECA chain), service type (restaurants, hotels, and cafes and pubs), and geography (APAC, North America, Europe, South America, and Middle East and Africa). Increasing demand for healthier food options and accommodations is the key factor driving the growth of the global HoReCa market. TOC: About US Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. 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