咖啡系列二：全球咖啡基本面总览

Report Summary 1. Report's Industry Investment Rating No information provided regarding the industry investment rating. 2. Core Viewpoints of the Report The report comprehensively analyzes the global coffee market from aspects of supply, consumption, export, import, and inventory, presenting the current status and trends of the global coffee industry [3]. 3. Summary by Relevant Catalogs Supply - Global Supply Situation: From 2016/17 to 2025/26, global coffee production increased from 966.474 million tons to 1072.08 million tons, with a net increase of 105.606 million tons and a cumulative increase of 10.93% over the decade. The growth was non - linear, with significant fluctuations due to climate and planting cycles. In 2018/19, production had the largest increase, while in 2021/22, it had the largest decrease. Regionally, Brazil, Vietnam, and Colombia dominated the global supply, with Brazil's share fluctuating between 32.6% and 39.59%. In terms of varieties, Robusta's production grew steadily with an annual compound growth rate of 3.53%, while Arabica's production decreased with a rate of - 0.44% [9][12][17]. - Supply Structure and Characteristics of Each Region: Brazil was the largest producer, with a mixed production of Arabica and Robusta. Vietnam was the second - largest producer and the largest Robusta producer. Colombia was the third - largest producer, mainly producing washed Arabica. Ethiopia produced only Arabica, and Indonesia had a high proportion of Robusta [22][23][24]. Consumption - Global Coffee Consumption Trend: From 2016/17 to 2025/26, global coffee consumption increased from 930.624 million tons to 1016.178 million tons, with an average annual compound growth rate of 0.97%. Roasted and ground coffee consumption accounted for about 84% on average, and instant coffee accounted for 16%. Both types showed a growth trend [25]. - Consumption Structure and Characteristics of Each Major Region: The EU, the US, and Brazil were the top three consumers globally. Europe had a mature market for freshly - ground coffee, with slow growth. North America's total consumption remained stable, with strong growth in instant coffee. South America's consumption market was mature, and Asia was the fastest - growing region, with China's consumption growing significantly at a compound annual growth rate of 10.69% [30][31][33]. Export - Global Coffee Export Overview: From 2016/17 to 2025/2026, global coffee export volume increased from 801.636 million tons to 891.198 million tons, with a compound annual growth rate of 1.18%. Bean exports dominated, with an average share of 82%, while roasted and ground coffee exports had a high growth rate of 41.30% [39][42]. - Global Coffee Export Structure: The top nine coffee - exporting countries were Brazil, Vietnam, Colombia, etc. South America's export volume increased, Asia's growth was slow, Africa's growth rate was high at 6.02%, and the EU's export volume increased with a compound annual growth rate of 8.77% [44][46][51]. Import - Global Coffee Import Overview: From 2016/17 to 2025/2026, global coffee import volume increased from 774.798 million tons to 841.698 million tons, with a compound annual growth rate of 0.92%. Bean imports dominated, accounting for an average of 84%, and roasted and ground coffee imports had high growth elasticity [52][55]. - Global Coffee Import Structure: Asia and other emerging markets were the main growth sources for bean imports. North America's imports declined, while Europe remained relatively stable. China's imports increased significantly, with a compound annual growth rate of 8.71% [56][59][61]. Inventory - Global Coffee End - of - Period Inventory Structure and Trend: From 2016/17 to 2025/2026, global end - of - period coffee inventory decreased from 218.718 million tons to 136.914 million tons, with a compound annual growth rate of - 5.07%. The inventory was mainly concentrated in major consumer countries such as the EU, the US, and Japan [63]. - Inventory Structure of Each Country: The EU, the US, and Japan all saw inventory declines. Brazil's inventory fluctuated greatly. Vietnam's inventory decreased, while Indonesia and Mexico's inventories increased [66][67][71].