Coffee Shops are On the Rise
In recent years, the coffee shop industry has experienced a significant surge in growth, reflecting the increasing demand for specialty coffee and unique cafe experiences.
This trend is evident in the substantial increase in the number of coffee shops across the United States.
Market Size
- Over the past five years, the total number of coffee shops grew by 2,990 units, reaching approximately 38,411 stores in 2022.
- The market value increased by 8% to reach $49.5 billion in the past year, surpassing its pre-pandemic value by 4%.
- The overall market size for coffee shops in the U.S. was estimated at $47.4 billion as of 2022.
- Projections indicate that the global specialty coffee shop market is expected to grow by $39.17 billion from 2022 to 2027.
Number of Coffee Shops
- For the first time, the U.S. coffee shop market has surpassed 40,000 stores, which is 7% above pre-pandemic levels.
- As of 2022, there were 38,411 coffee shops in the United States.
Factors Driving Growth
- Major chains like Starbucks, Dunkin’, Dutch Bros, and Scooter’s Coffee have been driving growth through aggressive expansion strategies.
- The rise of artisanal and specialty coffee shops has contributed to market growth, with younger consumers showing increased interest in ethically sourced and high-quality coffee.
- The popularity of drive-thru and mobile ordering options has fueled growth, with drive-thru orders increasing by 20% from February 2020 to February 2022.
- Coffee shops are trending towards smaller store formats (around 800-950 square feet) to optimize operational efficiency and cater to convenience-oriented customers.
- The increasing popularity of cold coffee drinks, especially among younger consumers, is driving sales and influencing market trends.
Market Leaders
- Starbucks maintains a dominant position with a 40% market share, operating over 16,000 outlets in the U.S.
- Other major players include Dunkin’, Dutch Bros, and emerging regional chains.
- The market is also seeing growth in independent and specialty coffee shops, intensifying competition across the industry.
