The NCA’s Spring 2024 National Coffee Data Trends (NCDT) report proves the US coffee market is thriving. Past-day coffee consumption has reached a 20-year high, increasing 37% since 2004. 67% of American adults reported having coffee in the past day, and 75% had coffee in the past week, up 4% from Spring 2023.
NCA President and CEO William "Bill" Murray stated, "NCA's exclusive research has tracked coffee trends for more than 70 years, and America's favorite beverage has only ever continued to grow in terms of overall popularity and in innovating to meet consumers' evolving tastes. This year's two-decade high is only the latest proof of America's enduring love affair with coffee."
Lifestyle changes drive massive growth in the US coffee market. Busy schedules and longer working hours demand on-the-go coffee, while high-quality premium products boost the specialty coffee segment. In the past week, 57% of American adults consumed specialty coffee, nearly 6 out of 10 Americans, a 7.5% increase from last year.
Ready-to-drink coffee is now the third most popular preparation method, almost doubling from 8% to 15%, replacing espresso machines. Drip coffee makers remain the first choice (37%). Coffee capsule brewers continue to maintain their post-pandemic popularity at 28%.
The proliferation of plant-based milk, sugar-free syrups, and vitamin and antioxidant boosts is evidence of the growing health and wellness trend in the coffee market. Consumer desire for sustainability and ethically sourced ingredients prioritizes environmentally friendly and fair trade practices. Brands are now emphasizing single-origin beans and traceability to the source. Starbucks opened three new reserve roasteries in July 2023, where customers can dive deeper into single-estate roasts and coffee mixology.
Espresso-based beverages experienced the highest growth (10%) among specialty coffees in past-week consumption. 18% of American adults enjoyed lattes, the most popular espresso-based drink, and 16% consumed espresso.
While Generation Z comes into its spending power at 47%, consumers 60 years or older show the greatest increase in past-day consumption, up 9% to 73%. Consumption among those aged 25-39 increased by 4.5%. The number of past day coffee drinkers aged 40-59 is now 69%. Consumption among 18–24-year-olds held steady at 47%.
According to ResearchandMarkets.com, the US coffee market will be worth $28 billion in 2024, with a compound annual growth rate (CAGR) of 3.69%. It is expected to increase to $33.6 billion by 2029.