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United States Coffee Market Report 2024: A $37.38 Billion Industry by 2032 - Out-of-Home Consumption Surge, Premium Product Preferences, Industry Impact and Societal Shifts, Corporate Movements
U.S. Coffee Market
Dublin, June 25, 2024 (GLOBE NEWSWIRE) -- The "United States Coffee Market Report by Product Type, Distribution Channel, and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The United States Coffee Market was US$ 26.96 billion in 2023 and will increase to US$ 37.38 billion by 2032, with a CAGR of 3.70% from 2024 to 2032.
The coffee market in the United States is growing rapidly due to changing consumer lifestyles. Coffee chains are becoming more popular as they cater to busy, on-the-go coffee enthusiasts. The increasing working youth population in the US contributes to this market growth. According to the National Coffee Association data from 2022, about 50% of people who purchase coffee outside their homes prefer takeaway. This data suggests an increasing trend in out-of-home coffee consumption culture, indicating potential market growth in the coming years.
American consumers prioritize premium products, especially when it comes to their daily coffee. This leads them to favor high-quality coffeehouses. Consistency in coffee quality has become a pivotal factor for repeat visits. Additionally, adopting machine-based food processing units is expected to enhance the country's coffee production. 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 as they require less preparation time.
While the coffee industry is booming in the United States, many Central American farmers face a different reality. Despite producing soft Arabica beans for the world's best soils, these farmers often find coffee farming unrewarding. This situation has led to many of them giving up and becoming part of the broader stream of immigrants to the US-Mexico border. As a result, coffee production is shifting to the United States.
According to the NCA's 2024 NCDT report, 75% of American adults drank coffee in the past week - an increase of 4% since the spring 2023 report. Interestingly, consumption increased the most (by 9%) among consumers aged 60 and over, while people aged between 25 and 59 reported a 4.5% rise in the number of times they drank coffee in a week. For those aged between 18 and 24, coffee consumption held steady at 47%.
Over the recent past, coffee shops have not only witnessed tremendous growth but have also become the heart of many communities. They are increasingly popular as social outlets for friends, family, colleagues, and business associates. As a result, coffee chains such as Starbucks and Dunkin' Donuts focus on enhancing their ambiance by creating a relaxing and attractive atmosphere to add an experiential element to coffee drinking.
In the United States, coffee shops have transcended their role as mere businesses to become icons of urban neighborhoods, shaping the very fabric of urban culture. They don't just create vibrant streetscapes and generate massive pedestrian activity; they are the heartbeat of the community. With their high customer footfall and profitability, they have significantly contributed to the growth rate of cafes/bars regarding value sales and transactions, underscoring their economic importance.
United States Coffee Company News
May 2024: NESCAFE, synonymous with soluble coffee, just launched its new premium Espresso Concentrate Coffee product. This shows that Nestle, like the rest of the coffee industry, is paying close attention to the phenomenal growth of cold coffee and convenience.
In December 2023, Italian coffee roaster Lavazza advanced its partnership with Paris Baguette America by launching Paris Baguette Blend, a whole-ban packaged coffee product set to be introduced across the bakery cafe chain's 170 US stores.
In July 2023, Starbucks launched a new beverage line-up in the US, featuring two new offerings: whole-bean packaged coffee and bite-sized Bumblebee Cake Pop.
Key Attributes:
Report Attribute | Details |
No. of Pages | 90 |
Forecast Period | 2023 - 2032 |
Estimated Market Value (USD) in 2023 | $26.96 Billion |
Forecasted Market Value (USD) by 2032 | $37.38 Billion |
Compound Annual Growth Rate | 3.7% |
Regions Covered | United States |
Key Players Analysis: Overview, Recent Development & Strategies, Product Portfolio & Product Launch in Last 1 Year, Revenue
Nestle S.A.
Eight O' Clock Coffee Company
Kraft Heinz Co.
The J.M. Smucker Co.
Fresh Roasted Coffee LLC
Keurig Dr Pepper Inc
White Wave Food Co.
Monster Beverage Corporation
Califia Farms LLC
Starbucks Corporation
Product Type - United States Coffee Market is Covered with 4 Viewpoints
Whole Bean
Ground Coffee
Instant Coffee
Coffee Pods and Capsule
Distribution Channel - United States Coffee Market is Covered with 4 Viewpoints
Supermarkets/Hypermarkets
Convenience/Grocery Stores
Online Retail
Other Distribution Channels
For more information about this report visit https://www.researchandmarkets.com/r/vaxlpm
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