Coffee outlook 2023
The Canadian coffee market has seen a steady growth in recent years, and 2022 was no exception. According to a market research report, the Canadian coffee market reached a value of $4.8 billion by 2022, growing at 4.5% during the forecast period (2018-2022). This growth can be attributed to the increasing demand for specialty and gourmet coffee, as well as the growing number of coffee shops and cafes in the country.
In comparison to the global coffee market, Canada's market share is relatively small, accounting for around 2% of the global coffee market. However, it is worth noting that the Canadian market is relatively mature compared to many other countries, and growth in the future may not be as rapid as in other markets.
In terms of the largest and smallest markets, the United States and Brazil continue to be the largest coffee markets in the world, while countries in Africa and Asia are among the smallest. In 2023, these large markets are expected to see steady growth, while the smaller markets are likely to see more rapid growth.
When compared to 2012, the Canadian coffee market has seen a significant shift in consumer preferences towards specialty and gourmet coffee, as well as an increase in the number of coffee shops and cafes in the country. Additionally, the use of technology in the coffee industry, such as the use of mobile apps for ordering and payments, has also increased.
Looking ahead to 2032, the Canadian coffee market is expected to continue to grow, driven by the increasing demand for specialty and gourmet coffee, as well as the growing number of coffee shops and cafes in the country. Additionally, the use of technology in the coffee industry is expected to continue to increase, leading to more convenience and personalization for consumers.
The Canadian coffee market has seen steady growth in recent years, driven by the increasing demand for specialty and gourmet coffee, as well as the growing number of coffee shops and cafes in the country. Although, Canada's market share is relatively small compared to other countries, it is relatively mature and growth in the future may not be as rapid as in other markets.
