Based on historical data, roasted coffee sales in the US increased from $9.414 billion in 2013 to $13.317 billion in 2023. In 2023, the value stood at $13.317 billion. Over this period, the market experienced fluctuations with notable growth and occasional declines. For instance, the market dipped slightly in 2016 and 2020 but regained momentum in subsequent years. The year-on-year variation indicates an average increase, with 2021 seeing a significant spike of 8.13%. The average variation per year over the last five years (CAGR) was 2.74%. Moving forward, forecasts from 2024 to 2028 predict a consistent growth rate with an average annual CAGR of 1.88%.
Future trends to watch for include:
- Potential market stabilization or acceleration influenced by consumer preferences for premium and specialty coffee variants.
- Impact of sustainability initiatives and ethical sourcing practices on product offerings and pricing.
- Technological innovations in coffee brewing and distribution channels driving consumer interest.