The Australian coffee market witnessed a drastic decline from 178.0 thousand metric tons in 2014 to 99.0 thousand metric tons by 2023. Specifically, the volume in 2023 stood at 99.0 thousand metric tons reflecting a -4.81% year-on-year decrease from 2022. Over the last five years, the industry saw a compound annual growth rate (CAGR) of -3.93%. Notably, the market experienced significant fluctuations: a 10.11% surge in 2015, followed by a-34.09% plunge in 2017, and a series of minor fluctuations leading up to 2023.
For the upcoming years, the forecast suggests a continued decline in the coffee market volume in Australia, predicting it will drop to 74.0 thousand metric tons by 2028. The expected compound annual growth rate from 2023 to 2028 is -4.63%, translating to an overall decrease of 21.11% in volume.
Future trends to consider include the impact of potential market saturation, changing consumer preferences towards healthier lifestyles, and the emergence of competitive alternatives such as tea and energy drinks. Monitoring these factors will be crucial in understanding the evolving dynamics of the coffee market in Australia.
