Caffe Latte Market Overview
Latte is a type of coffee drink made using steamed milk and espresso. There are numerous variants for making this by replacing coffee. The substitutes to coffee include matcha or turmeric, masala chai and other types of milk alternatives like soy milk or almond milk. It is also known as wet cappuccino in some regions.
This Italian origin drink is so famous in Europe and is a part of their breakfast for many years. It is alike to cappuccino except the milk foam is slight in latte. Iced Latte is speedily attaining popularity among people, particularly among young patrons of coffee beverages. Latte even plays a trivial role in defining politicians of some countries.
The factors which are promoting the growth of the Caffe Latte Market globally are, hastily rising urban population and growing popularity for coffee beverages among youth, accessibility of Caffe Lattes in approximately all the coffee shops and restaurants, existence of vast number of loyal consumers of latte, new and exotic varieties such as almond milk and masala chai and escalating number of population with disposable incomes are steering the Caffe Latte market towards the growth over forecast period.
There are also few hindering factors due to which the market is facing challenges, they are high expenses of latte and low penetration in rural population.
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Caffe Latte Market Segmentation
Caffe Latte Market is partitioned globally according to Product, Distribution Channel. With respect to type the product is partitioned into Traditional Style Cappuccino, Wet Cappuccino, Dry Cappuccino, Flavored Cappuccino and Iced Cappuccinos. Traditional style cappuccinos account for the largest market share in Caffe latte market. However, flavored cappuccino and iced cappuccinos are swiftly gaining popularity among the consumers. With respect to distribution channel market is classified into Restaurants, Coffeehouses, Vending Machines and Others. Coffeehouses are the key market section in terms of distribution where as practice of vending machines is escalating in office spaces, supermarkets and convenience stores.
Geographically The Caffe Latte Market has been partitioned into Latin America, Europe, Middle East, North America, and Asia Pacific & Africa. Europe leads the Caffe Latte market due to large number of regular consumers and also because it has been element of their lives for many years. Asia Pacific is swiftly emerging market section due to the growing urban population and boost in demand for western food and beverages.
The major companies dominating this market for its products and services are
- Brad Barry Company,
- Innovative Beverage Concepts, Inc,
- Vita Coco,
- Dunkin Donuts,
- Aroma Espresso Bar,
- Baristas, and
- Café Coffee Day.
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