How will growth in coffee industry in U.S be in the future?by Global Market Research Analyst
The U.S coffee industry is a dynamic and fast-growing market in the U.S. The consumer preference for coffee is ever-evolving and an increased temperament for preference of coffee is being observed in the U.S beverage market. Coffee is the most commonly consumed beverage in the U.S even more than tap water by volume.
Coffee possesses an inexplicable bonding power, bonding heterogeneous individuals,bcommunities and races across the broad societal framework. The U.S coffee market accounts for 1.6% of the total U.S GDP. In 2015, the size of the U.S Coffee market accounted for more than 1.6 million jobs in the U.S. The primary revenue source for the U.S Coffee market is from the foodservice industry. Other ancillary processes related to the coffee foodservice industry like the value addition of the coffee industry supply chain also add to the U.S Coffee industry revenue source. For instance, grinding and powdering of the coffee beans.
Major players in the U.S Coffee industry are Starbucks, Dunkin’ and JAB holdings. These three players consolidated hold a consolidated 78% of the market share for branded coffee in the U.S. Among the three, Starbucks is the largest branded coffee chain outlet in the U.S with a 40% branded coffee shop market share. They amount to approximately 14,875 outlets in the U.S. It added around 585 new outlets to its tally recently.
The U.S Coffee market has always kept itself abreast of the latest global trends in the Coffee market from Kopi Luwak to Dalgona Coffee. The latest coffee trends in vogue in the U.S coffee market are Dalgona Coffee, Snapchilled Coffee and Vegan Coffee.
Dalgona Coffee rose to prominence in 2020. Its rise to popularity was fuelled by its simplicity and its social media presence. Meanwhile vegan coffee, true to its nomenclature uses dairy alternatives for preparing coffee like coconut, soy and oat milk. It is in demand with vegans and those who suffer from lactose intolerance.
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Created on Oct 5th 2021 02:20. Viewed 143 times.