Espresso market expected to grow upward of $4.5 billion by 2027

The espresso coffee market is expected to experience significant growth of $4.55 billion over the next four years, according to a report by Technavio.

This growth is anticipated to occur at a compound annual growth rate (CAGR) of 5.84% between 2022 and 2027.

New product launches are identified as a primary driver of this market expansion.

Factors contributing to this growth include the work-from-home culture and increasing demand for espresso machines in workplaces.

In 2021, approximately 79% of consumers had espresso machines either at home or accessible through their workplaces.

The availability of a wide variety of espresso machines to cater to consumer demand has further fueled market growth.

Fluctuating raw material prices are acknowledged as a potential obstacle that could hinder the market's growth.

The espresso coffee market is described as fragmented, with companies employing both organic and inorganic growth strategies to remain competitive.

Europe is expected to play a significant role in the market's growth, contributing 41% to the global espresso market's expansion.

Major European countries for the espresso market include the United Kingdom, Germany, Russia,

the Netherlands, and France, with notable vendors such as Nestle SA, Unilever PLC, and Starbucks Corp operating in the region.

Other significant players in the global espresso market include Starbucks Corp., Black Rifle Coffee Co. LLC, and McDonald Corp.

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