Global Coffee Consumption Soars Amid Economic Challenges

Global Coffee Consumption Soars Amid Economic Challenges

The latest data from Circana suggests a robust growth in global coffee consumption, with a 5% increase in total servings year-over-year as of 2023. This growth is evident across 12 major countries, with the U.S. showing strong resilience in coffee consumption despite high inflation. China leads this surge with a significant 15% increase in coffee servings, highlighting a shift in consumer preferences towards coffee over other beverages like tea and carbonated soft drinks. The popularity of cold coffee is also on the rise, particularly in China, where it has seen a 20% compound annual growth rate from 2019 to 2023. This global trend presents a promising opportunity for coffee brands to innovate and expand in both the hot and cold coffee segments.

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