In the definition of a product of objects $X_i$ in some category $\mathcal{C}$, there is no assumption that the new object exists. Instead, the definition says that if it exists, then it satisfies...
There are categories in which products do not exist: the category of finite groups, for example, since an infinite product is no longer in the category. In the category of abelian groups, there is no coproduct (EDIT: this is wrong as pointed out in the comments. The coproduct in the category of abelian groups is the direct sum, not the free product, as it is in the category of groups.) since the free product of abelian groups is not abelian.
In these examples (and others), the reason for non-existence is really that the category in question is just too small: the product exists in a larger ambient category (the category of groups works in both examples) but not in the smaller one. So my question is the following:
Does there exist a category in which there are no products or coproducts for reasons other than the category is too small?