The versatility of the product to different consumer tastes and preferences, as well as because of its adaptability to be distributed through a wide range of distribution channels to aid in-home consumption, has been supporting this market growth. Convenience in food habits in general and coffee consumption, in particular, is gravitating consumers toward instant coffee. The middle-class population in developing countries has a huge demand for in-home coffee consumption. Coffee sales were especially strong as people stockpiled essential items during the pandemic. Nestlé SA, for example, reported strong retail demand for food and beverage products around the world, achieving 4.4% organic group sales growth in the first quarter of 2020. As a result, this factor is expected to increase global coffee consumption. Also, the current trend toward online shopping for at-home consumption, on the other hand, is forcing retailers, roasters, and consumers to adapt to this new reality. During the lockdown, while institutional sales suffered due to closed offices and public places, domestic consumption witnessed strong growth by the companies. The impact of the COVID-19 lockdown on the instant coffee market was significant in the first quarter of 2020, but it gradually lessened in the subsequent quarters with limited impact on full-year growth. The instant coffee market is projected to record a CAGR of 5.28% during the forecast period (2022-2027).
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