U.S. coffee market to grow to $39.5 billion by 2011
May 08, 2007
by FoodBusinessNews.net Staff
NEW YORK — The U.S. coffee market is expected to grow $10 billion by 2011, taking the market up to $39.5 billion, according to market analyst Datamonitor plc.
Five years ago, the U.S. coffee market was only worth $19 billion, but by last year it reached $29.3 billion. Sales at coffee shops have grown more than 19% a year for the last five years, and coffee consumed away from home is dominating the market.
"The growth of coffee shop culture has been pivotal in educating consumers about different blends and varieties of coffee," said consumer markets analyst Matthew Jones. "Consumers are increasingly demanding more sophisticated offerings from other outlets such as quick service restaurants and from packaged goods manufacturers."
Coffee sales in coffee shops more than doubled between 2001 and 2005, and sales are expected to grow another 58% to $16 billion by 2011. This also means that retail coffee decreased as a percentage of all coffee sold from 50% in 2001 to 34% in 2006. By 2011, retail coffee sales are expected to decrease to 27% of all coffee sales, according to Datamonitor.