The US coffee market volume has shown a steady increase from 1.36 million metric tons in 2014 to 1.49 million metric tons in 2023. Notably, between 2014 and 2018, the market consistently grew with a peak year-on-year growth of 2.38% in 2018. However, 2020 marked a significant decline of 4.48%, likely impacted by the COVID-19 pandemic. The market rebounded with a substantial 5.77% increase in 2021. In 2023, the volume grew by 0.47%, maintaining a 5-year CAGR of 0.35%.
The forecast indicates a continued modest growth, with coffee market volume expected to reach 1.52 million metric tons by 2028. The 5-year forecasted CAGR stands at 0.39%, implying a stable market environment.
Future trends to watch for:
- Technological advancements in coffee production and brewing techniques
- Increasing consumer demand for premium and specialty coffee
- Impact of climate change on coffee plantations and bean quality
- Innovations in sustainable and eco-friendly coffee packaging
