Is the coffee and tea markets growing or shrinking?

- The global coffee market is expected to grow. According to the International Coffee Organization (ICO), global coffee consumption increased by 1.3% in coffee year (Oct-Sep) 2021/22, reaching a total of 166.62 million bags. The projected world consumption for coffee year 2022/23 is estimated at 171.62 million bags.

Tea:

- The global tea market is also projected to experience growth. According to market research firm Euromonitor, the global tea market is estimated to grow by 2.6% per year between 2022 and 2027. This growth is driven by increasing demand for healthy beverages and rising disposable incomes, particularly in emerging markets.