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The coffee industry is booming due to its increased consumption among the global population.
An estimated 66% of Americans are coffee drinkers in 2023, a 14% increase from its consumption rate in 2021.
According to Fortune Business Insights, the global coffee market is projected to grow from $420.31 billion to $554.02 billion between 2022 and 2029, at a CAGR of 4.0% during the forecast period.
And of all the countries in the world, the US generated the highest revenue in 2023 ($95.58 billion).
This shows an upward trend in the market driven by the increasing awareness of Americans about the benefits of caffeine consumption, a rise in disposable income, and changes in lifestyle habits.
All these factors make the coffee business an appealing prospect.
If you operate in the US and want to take advantage of this trend, finding a reliable distributor is a crucial step.
However, choosing the right coffee distributor can be challenging.
So, when conducting your search, you should consider asking potential distributors the following questions to ensure they're a good fit for your needs:
Additionally, you should inquire about shipping times, discounts for bulk orders, payment terms, and other relevant conditions.
By asking these questions, you can select a vendor that offers you high-quality coffee at reasonable prices, matching your business requirements and customer expectations.
Once you've found a suitable coffee distributor, your next step is to stay on top of industry trends to remain competitive. Here are some trends that are currently shaping the coffee industry:
Trend # 1
Organic coffee is in high demand due to increasing awareness of healthy, chemical-free food consumption and the shifting trend toward environmentally friendly farming practices.
Research reveals that the organic coffee market size was $10.28 billion in 2022 and is expected to grow to $14.71 billion in 2026 at a CAGR of 9.4%.
Trend # 2
Among all coffee types, Arabica coffee has been the most popular for many years. About 60% to 70% of the coffee produced worldwide is Arabica, which had a dominant market value of nearly $14 billion in 2022.
Trend # 3
Instant coffee has become increasingly popular in the United States, with a market value of $10 billion in 2022. This is because it is easy to make and available at affordable prices.
By understanding these trends, you can strategically position your business to meet the ever-evolving preferences of today's coffee drinkers.