Guatemala Coffee Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Report on Guatemala Coffee Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Introduction to Guatemala Coffee Market
Coffee is a more of a culture rather than just a drink. Some of the classic sitcoms like ‘ Friends’ and ‘Seinfeld’ were based in coffee shops. Ironically, consumption in one of the largest producers of high-quality coffee beans like Guatemala is meagre till the early years of 21st Century. But the picture is shifting after the entry of global and local brands, the consumption picks up the pace. Earlier the coffee consumed in Guatemala was of lower quality. Now Guatemalans enjoy the taste of their homegrown world-famous coffee. Domestic coffee consumption in Guatemala has doubled in the last five years and the trend is likely to continue for the next decade or so.
The rapidly growing youth population is one of the key drivers of increasing coffee consumption in Guatemala. Over two-thirds of the total population falls under this category which gives a great prospect to the current players in the market to maximize their sales. Domestic consumption is driven majorly by the premiumisation of coffee. The rising popularity of coffee shops and a wider range of good quality products have led to consumers being exposed to the real taste of coffee. Guatemalans are now better educated as to the differences between various types of coffee. The phenomenon of “third wave ” coffee, with its intense focus on each step of the coffee chain has also contributed to the great extent.
Although the coffee market is thriving at a very good pace, there are some factors that restrain the growth. One of them is poverty. Guatemala has ranked as a lower-middle-income country in terms of Gross National Product per capita. Over one-third of the population earns less than $2 a day so it is impossible for them to buy a cup of coffee at Barista costs $3.5.
Coffee market can be classified in two segments i.e. instant coffee and bean coffee. Initially demand for instant coffee was really high. Now with the global players coming into the picture, Guatemalans exposed to the bean coffee. Increasing market share of bean coffee indicates the consumer inclination towards the bean coffee. But instant coffee still rules the market due to its cost factor.
Markets also offer great opportunities to the new players to enter the market and exhaust all the given resources. Furthermore, existing players have an early mover advantage and they should leverage them smartly to have a stronghold of the market. The key to success is to understand local markets dynamics comprehensively and offers a wide range of products that cater to the need of locals. Marketing activities are based solely on feelings rather than coffee itself such as Nescafe advertised via the slogan “Treat Yourself “.
Market comprises of both local and global players such as Tostaduria café Leon, El Cafetalito, Café Barista, McCafe. Tostaduria café Leon continued to lead coffee in 2017, accounting for nearly a quarter of overall value sales. The company offers both fresh and instant coffee but remained the clear leader in fresh coffee segment thanks to a wide range of products at different price points, thus enabling it to reach consumers across the income spectrum.
The report contains a comprehensive analysis on:
- Guatemala Coffee Market Segments
- Guatemala Coffee Market Drivers, Restraints and Opportunities
- Guatemala Coffee Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Guatemala Coffee Market Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macroeconomic factors, and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in terms of volume and value
- Recent market trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage