How will growth in coffee industry in U.S be in the future?

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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