Market Trends of North America Coffee Industry
This section covers the major market trends shaping the North America Coffee Market according to our research experts:
Increase in Coffee Consumption Among Working Population
- Coffee is the go-to recovery beverage for the working population, who frequent the local delis or cafes regularly. Due to this reliance on the experience economy, consumers are more prepared to buy coffee machines to replicate the coffee shop experience at home. Millennials are considered critical drivers of the coffee craze in the United States. For instance, according to National Coffee Association, in 2020, around 64% of the population aged 25-39 years consumed coffee in the United States.
- Furthermore, increasing global exposure and penetration of established coffee brands are anticipated to be the key factors that drive the expansion of coffee chains, especially in the North American region. Coffee shops recently experienced explosive development as they became popular hangout spots for friends, family, colleagues, and business associates.
- The increased acceptance of coffee is attributed to the emergence of premium stores from companies such as Coffee Day Enterprises Ltd, Starbucks Corporation, and Barista Coffee Co Ltd, fueling the market growth.
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United States Holds a Prominent Share
- Coffee is among the most consumed beverages across the United States. According to United States National Coffee Association (NCA), coffee consumption has increased to a two-decade high as Americans brew up new post-COVID routines. Longer workdays and busier lives are driving the coffee market. Customers who like their coffee on the move have increased the popularity of various US coffee companies.
- The country dominates in the specialty coffee market by processing various coffee products and re-exporting the processed products to the international market. According to USDA Foreign Agricultural Service, Colombia was the most significant coffee trading partner of the United States in 2021, with the United States importing USD 1.47 billion in that year.
- Coffee is mainly enjoyed at home, where breakfast forms an essential part of the day with a cup of coffee. Consumers in the United States strongly prefer in-home coffee over out-of-home preparation. According to USDA Foreign Agricultural Service, coffee consumption in the United States amounted to nearly 26 million 60 kg bags in 2021.
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