Kwick365, online ordering site by KwickPOS

Kwick365, online ordering site by KwickPOS

Coffee Shop Industry Trends and Statistics

Market Size and Growth:

  • The global coffee shop market was valued at $398.5 billion in 2022 and is projected to reach $604.2 billion by 2029, exhibiting a CAGR of 5.6% during the forecast period. (Source
    Grand View Research)
  • In the United States, the coffee shop industry is expected to grow by 2.5% in 2023, reaching $48.2 billion in revenue. (Source
    IBISWorld)
  • Consumer Trends:

  • Specialty Coffee
    Consumers are increasingly seeking out high-quality, specialty coffee with unique flavors and origins.
  • Cold Brew
    Cold brew coffee has gained popularity due to its smooth, less acidic taste and higher caffeine content.
  • Plant-Based Milk
    Non-dairy milk alternatives, such as almond milk and oat milk, are becoming more common in coffee shops.
  • Sustainability
    Consumers are becoming more environmentally conscious and prefer coffee shops that prioritize sustainability in their operations.
  • Technological Advancements:

  • Mobile Ordering
    Mobile apps allow customers to order and pay for their coffee ahead of time, reducing wait times.
  • Automated Brewing
    Automated brewing systems ensure consistency and efficiency in coffee preparation.
  • Loyalty Programs
    Coffee shops are using loyalty programs to reward repeat customers and build brand loyalty.
  • Competition and Consolidation:

  • Chain Expansion
    Large coffee chains, such as Starbucks and Dunkin', continue to expand their presence, increasing competition for independent coffee shops.
  • Independent Coffee Shops
    Independent coffee shops are focusing on differentiation through unique offerings, such as specialty roasts and local partnerships.
  • Consolidation
    The industry is experiencing some consolidation, with larger chains acquiring smaller independent coffee shops.
  • Restaurant Business Implications:

  • Increased Competition
    Coffee shops are becoming a significant source of competition for restaurants, especially during breakfast and lunch hours.
  • Cross-Promotion Opportunities
    Restaurants can partner with coffee shops to offer complementary products and services, such as coffee and pastries.
  • Customer Acquisition
    Coffee shops can be a valuable channel for restaurants to acquire new customers and build brand awareness.
  • Menu Expansion
    Restaurants can consider adding coffee and other beverages to their menus to cater to the growing demand for specialty coffee.
  • Sustainability
    Restaurants can align with the sustainability trend by sourcing coffee from ethical and environmentally responsible suppliers.
  • DISCLAIMER: This information is provided for general informational purposes only, and publication does not constitute an endorsement. Kwick365 does not warrant the accuracy or completeness of any information, text, graphics, links, or other items contained within this content. Kwick365 does not guarantee you will achieve any specific results if you follow any advice herein. It may be advisable for you to consult with a professional such as a lawyer, accountant, or business advisor for advice specific to your situation.

    Contact us

    today