Coffee Consumption Surges Globally: Insights from Circana
Circana, the leading advisor on consumer behavior complexity, has unveiled a significant surge in global coffee consumption, signaling a promising opportunity for coffee brands worldwide. Their extensive research combines global data with local depth, providing nuanced insights across 12 major countries. Let's delve into the key trends:
1. Global Growth: Total coffee servings experienced a 5% year-over-year growth globally, surpassing the 3% recorded in the United States. This trend was observed in 11 out of the 12 tracked countries. China emerged as the frontrunner, boasting the highest coffee consumption growth rate.
2. Cold Coffee Momentum: While hot coffee remains dominant globally, cold coffee has gained momentum, indicating a long-term growth trend. China led cold coffee consumption growth from 2019 to 2023, with cold servings constituting 33% of total coffee consumption.
3. Comparing Beverages: Coffee outpaced both tea (+4%) and carbonated soft drinks (+3%) in terms of year-over-year servings growth, emphasizing its position as one of the fastest-growing beverage categories globally.
Understanding the global trends and local intricacies is critical for success in this unique category where trends and competition intersect. Whether you prefer a steaming cup of espresso or an iced latte, coffee continues to captivate consumers worldwide!
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