Dublin, Feb. 22, 2024 (GLOBE NEWSWIRE) — The “US Coffee – Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 – 2029” report has been added to ResearchAndMarkets.com’s offering.
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.
US Coffee Market Trends
Working Youth Population Boosting the Market Growth
Over the recent past, coffee shops witnessed tremendous growth due to their increasing popularity as social outlets for friends, family, colleagues, and business associates, among others. As a result, coffee chains such as Starbucks and Dunkin’ Donuts are focusing 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 became icons of urban neighborhoods. They create vibrant streetscapes and produce massive pedestrian activity as they include high customer footfall. They are highly profitable as well. These factors strengthened the average growth rate of cafes/bars in terms of value sales and transactions.
The increasing working youth population in the country is aiding the market growth. As per data published by the National Coffee Association in 2022, about 50% of people who buy coffee outside the home prefer a takeaway. Thus, such data depict an increase in the country’s out-of-home coffee consumption culture, which indicates potential market growth during the forecast period.
Coffee Pods and Capsules Demand Augmenting the Market Growth
The consumption of healthy and convenient food and beverages in the United States became integral to most consumers’ lifestyles. Until recent years, the market for coffee pods and capsules in the United States was minimal, owing to the heavy centralization of this segment in Western Europe, primarily Switzerland. However, the quality, efficiency, and diversity offered in a single serving of coffee are responsible for the rapid increase in demand for coffee pods and capsules in the United States over the review period.
A growing consumer base demonstrates an increased willingness to purchase coffee machines to recreate a cafe-style experience at home. It increased the demand for coffee pods and capsules. Key players utilize evolving packaging technologies to improve sustainability and enhance their reputation among environment-conscious consumers. For instance, in September 2022, Cafe Royal invented a coffee pod in the shape of a ball. This ball is coated in a thin shell made of a vegetable layer, which is 100% compostable. It is an actual zero waste for capsules. Such innovations will likely drive the market in the coming years.
US Coffee Industry Overview
The US coffee market is competitive, with many domestic and multinational players competing for a market share. Leading companies emphasize mergers, expansions, acquisitions, partnerships, and product developments as strategic approaches to boost brand presence among consumers. With the rising demand for fresh ground coffee pods that provide customers with a premium coffee experience in AFH channels, the market is expected to witness a high scope for the entrance of private-label companies. Some of the major players in the market are Eight O’Clock Coffee, J. M. Smucker, Douwe Egberts, Keurig Green Mountain, and Starbucks Corporation.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Demand for Specialty Coffee
4.1.2 Popularity of Clean Labeled Products
4.2 Market Restraints
4.2.1 Emergence of Tea as a Healthier Alternative
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Whole Bean
5.1.2 Ground Coffee
5.1.3 Instant Coffee
5.1.4 Coffee Pods and Capsules
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience/Grocery Stores
5.2.3 Online Retail
5.2.4 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
- 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
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/cocndq
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