These days, coffee seems to be about as popular as it’s ever been. What was once just a break room pot of instant coffee has evolved into a daily ritual for countless Americans. But is the coffee shop industry slated to grow further, or has it plateaued?
In this article, we will unpack a coffee shop industry analysis using trends, analytics, and insights reports from across the industry.
Charting Coffee Shop Industry Growth
Since the 1990s, brewed coffee (and by extension the coffee shop industry) has grown hand over foot. An LA Times piece from 1993 notes that coffee sales grew to $1.0B between 1983 and 1992. Compare that with modern numbers, such as the $74.2B consumers spent on coffee in 2015, according to the National Coffee Association.
But the growth continues further. According to Modor Intelligence, the coffee market holds a $126.1B market share in 2023 and is expected to grow to $158.8B by 2028 if market conditions hold steady.
The growth of the coffee industry seems to be considerably healthy. We see, in this coffee shop industry overview, steady, exponential growth both in the history books and ahead of us.
Things look even rosier for these coffee shop industry statistics when you look further. Straits Research estimates the coffee industry market share will be $182.6B by 2030. Combining Modor’s and Strait’s projections, it would seem that the coffee industry is merely picking up steam.
What is Driving the Coffee Shop Industry’s Growth?
What was typically offered on the menus at coffee shops of old was fairly limited. American fare, simple soups, and plain black coffee were on order. Anything fancier required visiting an upscale restaurant.
Fast forward to the 1990s, when premium coffee’s popularity truly took off. A single hot coffee offering was replaced by numerous styles of coffee to try, including cappuccino and espresso. It’s no surprise that coffee’s popularity skyrocketed as customer choices increased.
A Coffee for Every Customer
Today, menu diversity and market size are at an all-time high. And so is the coffee shop industry competition. Today’s coffee menus offer a drink for nearly every kind of consumer. Black coffee still exists, but alongside it, customers may find iced coffee drinks, frozen coffee beverages, lattes, blends, and more.
And beans have become more diverse too. With new beans from various regions of the world, global coffee drinkers have access to a wider variety of flavors.
Your New Favorite is at Ellianos
At Ellianos Coffee, we see nothing but hopeful signs for the coffee shop industry’s future. We run a successful network of fast-casual coffee shops for coffee enthusiasts on the go. Our commitment is to bring Italian Quality to America’s Pace. Find an Ellianos Near You.