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.
Estimating 2012 sales for the overall coffee market at $10.7 billion in its October 2012 “Coffee” report, Chicago-based Mintel noted that the market peaked in 2011 and 2012 with growth rates of 17.9 and 19.2 percent, respectively, due to retail price increases and strong growth in the single-cup segment. However, after a period of stabilization, the market research firm predicts that the market will return to growth levels between 2 and 4 percent from 2015 to 2017 and forecasts 2017 sales of nearly $12.7 billion.