How Is the Coffee Industry Evolving?
The latest statistics from the National Coffee Association USA show that more than 75% of Americans consume coffee. The market is as strong as ever, so there are no real worries that the bottom will fall out of the coffee industry any time in the future. Yet the industry is evolving. It has to. Every industry changes and adapts to customer preferences and rising and falling trends.
So, just how is the coffee industry evolving? There are many examples of microevolution going on all around us. Examples include the development of new flavors, the growing popularity of espresso drinks and competition among coffeehouse chains to dominate the American landscape. However, there are much larger evolutionary influences currently underway that will have a profound effect on the industry of the future. Those influences are the further development of single-serve technology and the “new” coffee culture.
Developing Single-Serve Technology
You may be tired of hearing about single-serve in the coffee industry. Nevertheless, there is no greater force right now directing where things go with coffee. Some 27% of Americans own a single-serve machine; another 12% have serious intentions to purchase one in the future. Even more astounding is the fact that 75% of consumers have a general awareness of the single-serve option.
It is easy to assume that the phenomenon will only continue to grow to the point of completely dominating the marketplace. Nonetheless, that is not likely to happen. Why? Because price will eventually trump convenience. A case in point is the inventor of the coffee pod system, John Sylvan, who does not use the system himself. He has eschewed his own invention because it makes drinking coffee too expensive and goes against the ideals of sustainability. Eventually, the rest of the coffee drinking world will catch up to Sylvan. Single-serve will become passé; it is just a matter of time.
The “New” Coffee Culture
The coffee culture of the 1990s, created by the popularity of chains such as Starbucks, is itself evolving. In an attempt to elevate the morning cup of coffee from the working man’s beverage to something the elite can enjoy, a “new” coffee culture is emerging; a culture that is eerily similar to the wine and gourmet food culture. This new coffee culture is already having an interesting effect on the industry.
For example, cold-brewed coffee is now the hottest trend among millennials. Cold-brewed coffee is not new – it has been around for generations – but it is suddenly popular among younger coffee drinkers looking for a way to differentiate themselves from their older peers. We now have coffee purists whose preferences for gourmet products, different brewing methods, and sustainably sourced coffee beans will influence how the industry does things.
The coffee industry will continue to evolve with each passing year. At Galaxie Coffee, we are committed to providing our customers with the coffee, equipment, and complete beverage service they need for a productive and comfortable workplace. As the industry evolves, so will we.
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