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DUBLIN--(BUSINESS WIRE)--Dec 2, 2022--
The "North America Coffee Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The North American coffee market is projected to register a CAGR of 5.9% during the forecast period (2022-2027).
The COVID-19 pandemic presented an unprecedented scenario for the region's supply and demand of coffee. There was initial price volatility due to supply chain disruptions and trade halts for imports from Brazil, Colombia, Vietnam, and Nicaragua. Moreover, coffee chains had to deal with the reduced footfall in their retail outlets. Coffeehouses focused on food delivery partners and drive-through services. At the same time, several major brands launched bottled versions of their popular products and utilized e-commerce to sell them directly to the consumer.
With the increase in the demand for non-alcoholic drinks and the prominence of high-end coffee served by global coffee chains like Starbucks, The Coffee bean, Tea Leaf, and others, North America's coffee market is set to grow exponentially. There is a surge in health and wellness trends across North America. The growing preference of households preferring homemade coffee and more consumer moving towards specialty coffee is driving the growth of the North American coffee market.
Advancements in technology (like table-top machines and traceability tools) are creating the pathway for bean-to-cup solutions. Moreover, companies are focusing on their direct-to-consumer channel by growing a strong customer base online and trying to get their product to as many people as possible.
Key Market Trends
Increase in Coffee Consumption among Working Population
Coffee is the preferred recovery beverage for the working population who are regular customers at nearby cafes or delis. Due to this reliance on the experience economy, there is an increase in consumers willing to purchase coffee machines to recreate the coffee shop experience at home.
The trend of making better coffee at home is gaining momentum and will grow further during the forecast period. Millennials are considered key drivers of the coffee craze in the United States. As per the USDA census, the population of millennial consumers in the United States was reported to be around 72.1 million, with the average per capita coffee consumption of 4.78 kg per person in 2021.
Supermarkets lead the distribution channels for coffee in the United States
The continuous desire for more and better-tasting coffee drives the market during the forecast period. Due to growing consumer demand, supermarkets are expanding their ready-to-drink coffee product lines to reflect the variety of items available. As a result, a worldwide RTD coffee aisle is being created for niche markets like organic, vegan, and kosher. Supermarkets also serve as a point of sale for younger customers more interested in high-end coffee. Big-box retailers such as Walmart have been aggregating the RTD coffee products offered by various global and private-label brands, including Maxwell, Rise Brewing Co., Starbucks, Califia Farms, and High Brew.
Competitive Landscape
The North American Coffee Market is highly fragmented and is a very competitive space. Nestle, The Kraft Heinz Company, Starbucks Corporation, Dunkin' Brands, Blenz Coffee, Tata Global Beverages, The J.M. Smucker Company, and JAB Holdings B.V, among others, are some players operating in the landscape. Product developments, expansions, and mergers and acquisitions are the main strategies used by companies in this market. Manufacturers are expanding their product portfolio and are trying to cater to larger addressable markets with the help of a competent distribution network.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
5.1 By 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 By Distribution Channel
5.2.1 On-Trade (Cafes and Foodservice)
5.2.2 Off-Trade
5.2.2.1 Supermarket/Hypermarket
5.2.2.2 Convenience Stores
5.2.2.3 Specialist Retailers
5.2.2.4 Others
5.3 Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Mexico
5.3.4 Rest of North America
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/sczf8s
View source version on businesswire.com:https://www.businesswire.com/news/home/20221202005173/en/
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KEYWORD: NORTH AMERICA
INDUSTRY KEYWORD: FOOD/BEVERAGE RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/02/2022 07:14 AM/DISC: 12/02/2022 07:14 AM
http://www.businesswire.com/news/home/20221202005173/en