Based on the data provided, the Coffee Market in Africa reached a volume of 760.0 thousand metric tons in 2023. Observing year-on-year variations from the past decade, the market experienced notable fluctuations. Key years include 2016 with an 18.72% increase and 2017 with a significant 14.64% decrease. The most recent data from 2022 to 2023 shows a modest increase of 0.93%. The compound annual growth rate (CAGR) over the last five years stands at approximately 0.86%, reflecting a stable but slow growth trend.
Looking ahead to 2028, the forecasted 5-year CAGR is 0.72%, suggesting a steady growth rate reaching approximately 795.62 thousand metric tons. This represents a total forecasted growth rate of 3.67% over this period.
Future trends to watch for include potential impacts of climate change on coffee cultivation, shifts in consumer preferences towards premium and specialty coffee, and the expansion of sustainable and ethically sourced coffee demand.
