Coffee is the hot favorite beverage of most Americans. As of 2020, the total coffee market value has crossed $102.2 billion and is expected to increase consistently in the subsequent years as well with a Cumulative Average Growth Rate of 4.8%. The largest market of coffee is Europe while the fastest-growing market is South America. To learn more about the market of coffee and how big it is, check out the following graphical trends in the coffee industry based on the past few years.
Most Expensive Coffee Bean
One might easily find a cup of coffee for under $10 but there are a few types of coffee beans that are just too expensive. One has to spend over $500 to get a pound of Black Ivory Coffee. Other most expensive coffee beans include Finca El Injerto Coffee and Hacienda La Esmeralda, both of which cost around $500 per pound or even more sometimes. Kopi Luwak costs $160 per pound. It is a type of coffee made with cat poop. Saint Helena Coffee, Jamaican Blue Mountain Coffee, Fazenda Santa Inês, Los Planes Coffee, and Hawaiian Kona Coffee are also among the most expensive coffee beans.
Top Coffee Producing Countries in 2020
A unique aspect of coffee is that it can be produced in certain countries only due to the climate required by the coffee plant. Therefore, a lot of what is produced in certain countries is exported to others. The world production of coffee in terms of 60-kg bags as of 2020 was 175,647 bags among which Brazil accounts for the most number of bags (69,000). Vietnam produced 29,000 such bags while all other countries have produced less than 15,000 60-kg bags in 2020. These countries include Indonesia, Columbia, Ethiopia, Honduras, and India as well.
Top 10 Coffee Consuming Countries Per Capita
While Finland is not among the top coffee-producing countries, it is at the top of coffee-consuming countries with over 12 kg of per capita coffee consumption every year which makes it about 3 to 5 cups a day per capita. This is quite high and many health experts would advise against that. Norway and Iceland also have over 9 kg coffee consumption per capita per year making it more than 3 cups a day. Other top coffee-consuming countries include Iceland, Denmark, Netherlands, Sweden, Switzerland, Belgium, Luxembourg, and Canada as well with most of them having 2 to 3 cups a day of per capita consumption daily.
Largest Coffee Chains in the World
The demand for coffee is high and it is mainly due to a few large players which have dominated the market with their exceptional taste and quality of coffee. On top of this list is Starbucks Coffee which has $22.38 billion in gross annual sales followed by Tim Hortons having $3 billion in sales. Panera Bread comes third with $2.8 billion gross annual sales. Other companies in this list include Lavazza, McCafe, Costa Coffee, Dunkin Donuts, Peet’s Coffee, Dutch Bros, and Caribou Coffee as well. Starbucks is currently the market leader of the coffee market but faces tough competition from other companies.