Companies and Brands
Is the Rise of Starbucks Driving Global Coffee Consumption Growth?
Published:
Last Updated:
Coffee consumption is expected to rise in 2016, but not via the path you might have guessed. The International Coffee Organization is showing that the United States will lead the gains. Consumption is now expected to reach 152.1 million bags in 2015, versus 2014’s demand of 150.3 million. Demand from the previously never-ending growth of the European Union has stagnated.
Is it possible that this is being fueled by the never-ending growth at Starbucks Corp. (NASDAQ: SBUX)?
The International Coffee Organization Blog detailed in a recent article:
Our initial estimate of world coffee consumption in calendar year 2015 comes to 152.1 million bags, up from 150.3 million in 2014, but a slightly more modest increase than in recent years. The average annual growth rate over the last four years remains at a healthy 2%. Demand in the world’s largest consumer, the European Union, has stagnated slightly at an estimated 42 million bags, averaging growth of 0.8% per year since 2012, but the USA continues to show an increased appetite for coffee, increasing by an average rate of 3.2% to an estimated 24.4 million bags. Japan also continues to expand, averaging 2.4% growth to 7.6 million bags. As a result, total consumption in all importing countries is estimated at 104.9 million bags.
24/7 Wall St.Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
