Foodservice Sales to Help U.S. Coffee Market Surpass $48 Billion By 2010
February 09, 2006 (PRLEAP.COM) Business NewsNew York, February 9, 2006 — As the second largest U.S. import— second only to oil—coffee is a hot commodity, and U.S. consumers down more cups of java than any other country in the world, mostly at coffee shops, restaurants or other foodservice venues. Sales of coffee are expected to grow by a compounded rate of 6.9% from 2005-2010, reaching $48.2 billion by 2010, according to The U.S. Market for Coffee and Ready-to-Drink Coffee, a new report from market research publisher Packaged Facts, a division of MarketResearch.com, the leading provider of industry-specific market research reports.
Packaged Facts estimates that the 2005 U.S. coffee market grew to $34.5 billion, an 8.7% jump over 2004. Foodservice is the largest sales channel, accounting for 87.9% of the market. Half of the coffee drunk “out” consists of “regular” coffee, while 42% is a specialty blend. Retail outlets account for the remaining 12.1% of sales, with ground coffee garnering the bulk of those sales.
While actual consumption of coffee is down, the price paid per cup is up significantly as consumer tastes have migrated toward higher-end, novelty brews.
“Across the board we’re seeing an upscaling of product as consumer demand soars,” said Don Montuori, the publisher of Packaged Facts. “Economy brands resurfacing in high-tech, easy-to-use containers; ‘pods’ taking off as a quick way to brew single-cup, espresso-based coffees; savvy marketing touting newly discovered health claims; and sustainable, organic and ‘fair trade’ beans coming into vogue; these and many other factors are driving the current coffee boom as consumer palates are becoming increasingly sophisticated and health- and eco-conscious.”
From bottle blends of Joe-on-the-go, to in-room, hotel coffee service, The U.S. Market for Coffee and Ready-to-Drink Coffee provides a comprehensive look at the enormous foodservice market for coffee and the innovative retail milieu. The report examines new product trends, offers competitive profiles of industry leaders, and analyzes consumer behaviors surrounding coffee. Priced at $3,000, this report can be purchased directly from Packaged Facts by clicking: http://www.packagedfacts.com/pub/1077450.html. It is also available at MarketResearch.com.
About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes research reports on a wide range of consumer industries, including consumer goods and retailing, foods and beverages, and demographics. For more information visit www.PackagedFacts.com, or contact Tom Ehart at 240-747-3014, or email@example.com.