|WASHINGTON and NEW YORK, Dec. 12, 2014 /PRNewswire/ — As the leading distributor of market intelligence, MarketResearch.com has reports by industry expert, Packaged Facts, finding that coffee sales in the U.S. are expected to exceed $48 billion in 2014. From those sales, retail sales are expected to account for $11.2 billion, while foodservice establishments will account for $37 billion.
To learn more, check out Packaged Facts’ Full report, Coffee and Ready-to-Drink Coffee in the United States: The Retail and Foodservice Market: http://www.marketresearch.com/land/product.asp?productid=8215207&progid=86953.
According to an article on FinancialTimes.com (ft.com), the drought in Brazil this past January, February, and March is creating uncertainty for farmers and traders. Brazil is the world’s leading coffee producer, accounting for 35% of all output. Prices for many types of coffee beans are seeing the highest prices in over two years in 2014. This could lead to a lasting effect on how coffee is priced in the U.S. Yet, the market’s revenue remains strong.
Hot coffee is the go-to beverage for 75% of drink users, saying it’s the beverage they chose most often. For coffeehouses and quick-service restaurants, to continue to increase profits they will need to determine how to attach food to coffee sales.
Companies that are beginning to offer single-serve coffee brewers are also going to profit from the coffee sales. Continuous innovation and providing a wide variety of options for coffee consumers is going to give retailers and brands the upper hand.