Market Size of US Coffee Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 28.06 Billion |
| Market Size (2029) | USD 33.64 Billion |
| CAGR (2024 - 2029) | 3.69 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Coffee Market Analysis
The US Coffee Market size is estimated at USD 28.06 billion in 2024, and is expected to reach USD 33.64 billion by 2029, growing at a CAGR of 3.69% during the forecast period (2024-2029).
The United States coffee market is experiencing exponential growth due to changing consumer lifestyles. With increasingly busy schedules and long working hours, coffee chains gained popularity as they cater to on-the-go coffee enthusiasts. American consumers prioritize premium products, especially when it comes to their daily coffee fixes, leading them to favor high-quality coffeehouses. Consistency in coffee quality becomes a pivotal factor for repeat visits. Additionally, the adoption of machine-based food processing units is expected to enhance the production of coffee in the country.
Instant coffee products such as ready-to-drink and ready-to-mix are being retailed across the market. As coffee is frequently consumed across the country, consumers prefer instant coffee products over others as they require less and minimum preparation time. According to the National Coffee Association Report 2022, about 66% of consumers destroyed coffee daily, higher than tap water in 2021.
With increasing exposure to novel products, consumers in the country are exposed to artisanal single-origin coffee products that are retailed across the market. Owing to its popularity and exclusivity, consumers prefer single-origin coffee products. Moreover, with the increasing purchasing power of consumers, consumers are willing to spend more on specialty coffee products to experience the taste. Due to its demand, manufacturers focus on introducing more products with single-origin claims to attract consumers. For instance, in July 2023, Starbucks Corporation opened reserve roasteries in Chicago, Seattle, and New York, where consumers can try various types of single-origin coffee and their mixology.
These factors are expected to propel the market growth in the country over the forecast period.
