2017 State of the Beverage Industry: Premiumization drives coffee category
Premium RTD, single-cup coffee grow sales
When it comes to coffee, consumers are looking for premium products in both hot and cold varieties to get their coffee fix. “Consumers are increasingly demanding specialized, high-quality coffee products, particularly in single-use servings. Over the past five years, many consumers have viewed high-quality industry products as an affordable luxury,” Los Angeles-based IBISWorld states in its February 2017 report titled “Coffee Production in the US.”
For the five years to 2022, the market research firm predicts growth at an annualized rate of 0.4 percent, bringing the market to $13.6 billion.