The European coffee market is expected to reach 47.88 billion USD in 2024

Published 2024년 4월 3일

Tridge summary

In 2023, the European Union (EU) faced a downturn in coffee imports due to an economic recession and high inflation, leading to a decrease in consumer spending. This decline was observed in imports from major suppliers like Brazil, Colombia, and Switzerland, although Honduras saw an increase. Despite the current challenges, the outlook for the European coffee market remains positive, with expectations of growth as the economy recovers. This optimism is based on the region's strong coffee culture, high per capita consumption, and trends such as the opening of new coffee shops, expansion of existing chains, and a rise in home coffee machine purchases, indicating a promising future for the coffee industry in Europe.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The reason why the European Union (EU) reduces coffee imports in 2023 is due to economic recession and high inflation, causing people to tighten spending. Regarding supply structure, in 2023, the EU's coffee imports from the internal market will reach approximately 1.31 million tons, worth 9.26 billion USD, down 6.8% in volume and 0.1% in value. value compared to 2022. In particular, traditional coffee supplies within the EU include: Germany, Belgium, Italy, Netherlands, France. For foreign markets, in 2023, the EU imported 2.74 million tons of coffee, worth 11.53 billion USD, down 10% in volume and 17% in value compared to 2022. Of which, the EU imported coffee from Brazil reaching 921.8 thousand tons, worth nearly 3.57 billion USD, down 11.6% in volume and down 24% in value compared to 2022. Brazil in total EU imports from the world, decreasing from 23.41% in 2022 to 22.74% in 2023. EU coffee imports from Vietnam reached 652,000 tons, worth 1.66 billion USD, down 1.4% in volume ...

Source: Agriculture