Albany, NY — 01/15/2018 — The coffee shop market is one of the most successful in the UK economy. In the present time, coffee demand is growing, thanks to increasing consumption by millennials. A new report, titled “Coffee Shops- UK– December” has been recently added to the broad database of Market Research Hub (MRH), which reveals vital details about the current market scenario along with its future growth prospects. For a clear understanding, the report provides analysis on the basis of consumer preference, brand research and key players innovations.
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Key Insights from the Report
As per the study key findings, the coffee shops market is worth 3.4 billion in 2017, which is forecasted to reach 3.7 billion by 2022. To provide accurate forecasts, the research highlights value sales of coffee shops market for the period 2012 to 2022. Analysts find that coffee shops face headwinds but there are opportunities for growth in the coming years.
In the first part, the study begins with a brief market overview of UK coffee shops. The report also gives insights into the issues regarding the coffee shops and its implications. The subsequent section of the report focusses on attracting the millennials and the consumers and also gives information about the market drivers. Visiting coffee shops is a ritual that many Brits routinely follow. As per the consumer perspective, younger Millennials aged 18-27 and parents of under-16s make up the core consumers of the coffee shops market. One of the prime reasons behind the growing demand is the growth of the workforce and aging population.
Younger Millennials are drawn to new product lines, and parents care about ethical sourcing and premium quality experiences. As a group, they are spreading their budget across a larger number of establishments that are selling coffee, including non-specialists that have expanded into low-cost coffee alongside their food offerings, which threatens to take chunks off the coffee shops market share. A greater vow to coffee credentials by the non-specialist sector, such as pubs, fast food and supermarkets has produced wider consumer participation while adding to competitive pressures.
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Later in the study, the competitive strategies of various companies operating in the UK coffee shops market are also highlighted. This section includes analysis of market share, company profiles, launch activities, advertising and marketing activity. Presently, Costa Coffee, Starbucks Coffee Company, and Caffè Nero and SOHO Coffee Co. remain the UK's leading chains with a 53% outlet share of the branded coffee shop market.
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