Global Coffee Cravings
Globally, coffee consumption is increasing rapidly, with servings up 5% year-over-year in 2023.
Coffee is outpacing both tea and carbonated soft drinks in growth, establishing itself as a top beverage choice worldwide.
China boasts the highest growth rate in coffee consumption, with a significant 15% increase in servings.
US Remains a Strong Coffee Market
US coffee consumption is resilient despite inflation. Coffee visits per capita grew across all income groups.
This growth is likely due to coffee's perceived "treat" status and continued innovation in specialty coffee offerings.
Cold Coffee on the Rise
While hot coffee still dominates, cold coffee is a rapidly growing segment worldwide.
China leads in cold coffee consumption growth (20% compound annual growth rate), with cold coffee making up a significant portion of its total coffee consumption (33%).
Key Takeaways for Brands:
Coffee's global surge presents a significant opportunity for brands.
Staying ahead of the curve means understanding both broad global trends and the unique characteristics of local markets.
The rise of cold coffee demands attention and potential product innovation.
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