The global coffee market is expected to have a CAGR, compound annual growth rate, of 5% from the years 2017 to 2022.
Annual world coffee consumption, according to the International Coffee Organization, has increased from 148,889,000 60-kg bags to 157,858,000 60-kg bags from 2013/14 to 2016/17. That is a LOT of kilograms of coffee. And this change represents a 2% CAGR, which helps put our fact #1 into better perspective.
Coffee has grown to be the second most traded commodity in the world, after oil. Clearly, the world’s priorities go: 1) essential petroleum products, 2) caffeine.
From 2008 to 2016, daily consumption of coffee among 18 to 24-year-olds increased from 34% to 48%, and daily consumption among 25 to 39-year-olds increased from 51% to 60%.
Global coffee supplies are expected to be in surplus in the 2018/19 season, but prices are expected to continue increasing as companies restock their inventories. Retail sales of coffee are predicted to drop from 766,000 metric tons to 764,000 from 2017 to 2018, and possibly remain stagnant through 2022, according to Euromonitor International. This would be due to improving economies promoting a reduction in home brewing of retail coffee and an increase in café purchases.