Coffee industry to reach up to $3.2 billion by 2028
India’s coffee industry is projected to expand at a compound annual growth rate of 8.9 per cent by 2028 and the out of home segment expected to grow at a CAGR of 15 to 20 per cent to reach $2.6 billion–$3.2 billion by 2028, an official statement said on Saturday.
The Coffee Board of India aims to scale national production to 9 lakh tonnes by 2047, reinforcing India’s emergence as a leading global coffee producer. India currently produces about 3.6 lakh tonnes annually, with nearly 70 per cent exported to 128 countries, the statement said.
The emergence of specialty coffees such as Monsooned Malabar, Mysore Nuggets, and Koraput Coffee has strengthened India’s reputation as a producer of premium, globally competitive varieties, it said.
The success of tribal cooperatives like Tribal Development Co-operative Corporation of Odisha Ltd (TDCCOL) in Odisha has exemplified how coffee can be an instrument of socio-economic empowerment and sustainable livelihood creation, the government said.
