Coffee segment’s market share increased to 4 percent
September 2, 2016
Coffee has recently seen a renaissance, both through its renewed popularity among younger consumers, as well as through exciting innovations within the coffee space — such as cold-brewed and pour-over coffee, reports Chicago-based Technomic, a Winsight company.
Single-cup coffee is playing an increasingly larger role in retail coffee sales. Single-cup sales growth comprised 74 percent of retail coffee sales growth of $761 million, according to Rockville, Md.-based Packaged Facts.
The premium market for coffee continues to gain ground, according to an August 2012 report from Santa Monica, Calif.-based IBISWorld. “Consumers educated themselves more about coffee beans and traded up in quality over the five years to 2012,” the report stated.