Market Size of North America Coffee Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2018 - 2022 |
| CAGR | 5.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Specialty Coffee Market Analysis
The North American Coffee Market is expected to register a CAGR of 5.9% over the forecast period.
- With the increase in the demand for non-alcoholic drinks and the prominence of high-end coffee served by global coffee chains like Starbucks, The Coffee bean, Tea Leaf, and others, North America's coffee market is set to grow exponentially. There is a surge in health and wellness trends across North America. The growing preference of households preferring homemade coffee and more consumer moving towards specialty coffee is driving the growth of the North American coffee market.
- Multiple factors drive the coffee market, a few being the increasing demand for certified coffee products, the acceptance of single-serve coffee brew systems by consumers, and the constant innovation led by the top players in the coffee market. In developed economies, some consumers are expected to switch from instant coffee to premium coffee due to its quality and flavor.
- The rising demand for coffee pods and capsules is primarily attributed to consumers' increasing interest in the premium experience of single-serve coffee, especially in the away-from-home channels across the country. Advancements in technology (like tabletop machines and traceability tools) are creating the pathway for bean-to-cup solutions. Moreover, companies are focusing on their direct-to-consumer channel by growing a strong customer base online and trying to get their product to as many people as possible.
- Due to socioeconomic conditions, North America is experiencing steady market growth for instant coffee. The hectic and stressful lifestyle of people has fueled the demand for instant coffee in the region. Moreover, the easy availability of a wide range of new flavors, such as cappuccino, mocha, French vanilla, Italian roast, organic instant coffee, and green bean instant coffee, will continue to spur the demand in the upcoming years.
- For instance, in December 2021, Peet's Coffee, introducing its new flavored coffee K-Cup® pods, presented its first range of flavored coffee for home brewing. The new range contains three precisely created options that masterfully mix great Peet's coffee with natural flavors for a wonderful cup at the push of a button: Caramel Brûlée, Vanilla Cinnamon, and Hazelnut Mocha.
