NEW YORK, Aug. 18, 2014 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Make no mistake, coffee is big business: Packaged Facts forecasts that retail and foodservice sales of coffee will top $48 billion in 2014. Of this amount, we expect $11.2 billion (or 23%) to come from retail sales and $37 billion (or 77%) to come from sales at foodservice establishments.
For coffeehouse and quick-service restaurant operators, attaching food to the purchase of coffee is more important than ever. Brands are aggressively innovating on both the beverage and food side of the menu to provide customers the ammunition needed for more pairing firepower. But more and more of these players are also branching into other beverages, which has the potential to dampen coffee sales growth. Any yet despite all the variety, hot coffee is still the go-to beverage, with 75% of coffee/coffee drink users saying that among 10 choices "hot coffee" is the coffee/coffee drink they drink most often. As restaurant operators race to launch loyalty programs, coffeehouse chains are fertile ground for programs that blend and harness social media, mobile technology and rewards. Our research suggests that coffeehouse users are receptive to social media and brand interplay, and when it comes to adapting to technology, these consumers are also ahead of curve.
On the retail side, the rise of single-serve is changing the retail coffee landscape—and if Green Mountain Coffee Roasters has its way—single serve will also change away-from-home coffee consumption. But coffee co-branding is also moving beyond coffee shop brands to align with other indulgent brands. Building off coffeehouse expectations for a wide variety of options, retail coffee manufacturers are also embracing variety, and sourcing has become a key element in coffee premiumization. And innovation abounds: To combat attrition, instant coffee marketers are trying to breathe life into the category focusing on quality products underscored by variety, functional, and value positioning.