Canadian instant coffee market is estimated to be valued at US$221.945 million in 2019 and is anticipated to grow at a slow pace during the forecast period.
The availability of premium products and the lack of time among the working class individuals in bolstering the demand
The demand for instant coffee is expected to surge over the forecast period owing to the fact that there is an increasing number of working-class individuals getting busier in their corporate lives and thus, are preferring convenience foods and ready to go beverages in breakfast, thereby bolstering the market growth. In addition, the popularity of premium coffee and availability of the product in different flavors and tastes are catering to a wide variety of the consumers and gaining popularity rapidly among the middle-aged and the younger population alike, thus contributing to the market growth over the forecast period.
Coffee is one of the most commonly consumed beverages
Moreover, According to a study regarding Canadian Coffee Consumption carried out by the Coffee Association of Canada in 2019, it was found that that about 82% of the Caucasians prepared their coffee at home and there are about 2 cups of coffee that individuals aged between 18-79 consume per day. Interestingly, Coffee is the most commonly consumed beverage in the country. Thus, there is an increasing demand for instant coffee and is bolstering the market growth further.
Product Offerings by the market players in the Canadian Instant Coffee Market
The market players are increasingly participating and involved in the market through investments, and product launches in order to cater to the rising demand among the consumers effectively and to contribute to the growth of the market over the forecast period.
Tim Hortons, which is among the most famous coffee chains in Canada offers a wide variety of instant coffee blends under its product portfolio. It offers its Tim Hortons Instant Premium, Tim Hortons Instant Decaf, Tim Hortons Instant Light Roast, and Tim Hortons Instant Dark Roast. All these products are available in 100g jars and are prepared easily by just adding hot water to 1-2 spoons of coffee.
Freeze Dried Instant Coffee to grow at a significant pace over the forecast period
The rise in demand for the consumption of specialty and aromatic coffee among the consumers has resulted in an increased preference for freeze-dried type instant coffee as it is able to separate the moisture that is present in coffee beans properly, thus retaining the special flavors and aromas present in different blends.
Online Distribution Channel to hold a significant market share owing to the increasing usage
The penetration of the internet has resulted in the e-retail and e-commerce channels to gain popularity among the population for purchasing grocery items such as coffee and other items. This is attributable to the fact that it saves time, and also provides a sense of convenience to the individuals and there are discounts that are offered in the e-retail and e-commerce stores that are not available in some of the offline stores.