Do you love coffee? Well, in this winter season, coffee will be a perfect partner for your sweet cookies or cakes. With its tempting aroma and perfect brew, coffee has magnetized people across the world to love it. Be it hot or cold, coffee is always a favorite for everyone. So, if you are one of those coffee lovers, you would want to know some interesting coffee industry futures and trends. Let’s find out!
Know More About the Coffee Industry Analysis
Generally speaking, we know that coffee is a part of our daily routine. Even more, this favorite beverage has become a household product over the years. Adding to this, more than 1 billion people drink coffee daily!
Yes, the coffee industry has, indeed, a significant share of the world economy. The fact is that more than 125 million people make their living through the coffee industry. For example, we can mention farmers who produce coffee, in which their livelihood relies on the demand for coffee.
In brief, the coffee industry can make up to $200 billion every year. Better yet, the experts stated that people around the world consume 166.5 million bags of coffee each year. Well, that’s a great amount!
When Did Iced Coffee Become Popular?
Do you prefer hot coffee or iced coffee?
No doubt, you will find some myths and legends surrounding the discovery of coffee. But let’s get the most interesting one!
So, this is the tale that mentioned that in the 19th century, an Ethiopian goatherd found coffee beans. Then, when he roasted and then boiled the beans, he could stay alert all night. Thus, it was the birth of the coffee break, we can say.
Now back to the iced coffee!
Popular as one of the most favorite consumer beverages, iced coffee still lags behind other consumer soft drinks, actually. In fact, research has mentioned that only 10% of iced coffee consumption occurs in America. Besides, we can see most of the rest scattered at 86% happens in Asian countries, and we know that these countries have a longer tradition of chilling the beverage. Plus, you might find only about 20% of people in the US drink iced coffee. Hence, the percentage is quite small compared to 83% of people who love to consume hot coffee.
But wait, this doesn’t mean that no one likes iced coffee. Guess what? The popularity of iced coffee has grown over the last couple of years. In the year of 2009, iced coffee was included in 19% of coffee-based menu items. Far better, right at the beginning of 2013, the market share of iced coffee has increased up to 24%!
What Are the Popular Coffee Trends to Expect in 2024?
Nevertheless, along with the coffee market continuing to grow, coffee lovers always look for unique coffee shops that serve specialty coffee menus. In addition, it will be a plus point if a coffee shop can deliver an authentic experience for customers.
Well then, speaking of the popular coffee trends to expect, let’s check out the main trends!
Authentic and Trendy Vibes to Attract More Customers
In this digital age, the popularity of social media and influencer culture are increasing. Thus, many customers follow recommendations and trends from their favorite influencers. In this context, as a coffee brand, adding trendy visual elements to your coffee shops is a MUST.
Remember that your customers want to feel comfortable while enjoying their coffee. Far better, they would love to take photos and spend time with their friends. So, make sure you apply natural lighting and bring in cozy furniture to build the mellow and aesthetic vibe of your coffee shop.
Integrate and Embrace the Technology
In these modern days, traditional management of coffee shops is no longer practical for many business owners. Instead, along with the labor shortages and economic changes, business owners need to adapt to new technology. By doing this, they can then manage their coffee shops without relying on outdated ways.
Accordingly, the hassle of printing new paper signs or re-writing menu items on chalkboards is no longer interesting. These days, we will find digital menu boards where business owners bring their menus to life with vivid images of their coffees in custom card sleeves and captivating videos.
Moreover, by using digital high-tech coffee gadgets, business owners can streamline their business and achieve marketing goals.
For example, when launching limited-time promotions, they can deliver memorable customer experiences with coffee brewing apps. Even better, with digital menu boards, those business owners can easily give their menus a fresh look to attract customers.
Unique Specialty Coffee
Yes, over the last few years, more customers have been showing increasing awareness and appreciation for higher-quality coffee.
Customers with ages ranging from 25 to 39 years prefer precision coffee brewing. Moreover, they expect to get unique experiences from their favorite coffee shops.
Meanwhile, customers with ages ranging from 18 to 24 years make the largest share of 32.7% in 2022. In simple words, these types of customers always look for new and unique specialty coffee. Hence, to grab these customers, your coffee brand should consider offering unique specialty coffee. This way, it will be easier to motivate them to revisit your coffee shop.
So, what are specialty coffee products you should offer?
- Cold brew
- Nitro cold brew
- Cold foam
- Flavored coffee options with custom orders
In addition, you can also try experimenting with different flavors to make your own specialty coffee menus. After all, if your coffee is unique, those customers would surely love to have it!
Sustainability Drive
With the growing number of people who are conscious of the environment, sustainability and healthy choices are a must. To follow this trend, business owners should go with sourced coffee beans from local communities. Then, they should also note them in the menus.
Wrapping Up
No doubt, with its tempting aroma and perfect brew, coffee has magnetized people across the world. Considering 1 billion people drink coffee daily, the coffee industry has, indeed, a significant share of the world economy. So, if you are a coffee brand, make sure you follow the coffee industry’s future and trends to succeed!
