COFFEE TRENDS IN 2024
Articles on coffee trends should always be read with a pinch of salt, and not on an empty stomach. So grab a piece of avo on toast, grind a pinch of pink Murray River salt, and lets dive in. Cautiously, after checking the depth and wayward rocks and branches.
MOVIN’ ON UP
For you and I who love specialty coffee, this is a welcome, non-surprising forecast. It’s expected the Australian coffee market as a whole will grow at an annual growth rate of 4.6% from 2024 to 2028, with specialty coffee being a major contributing factor to this growth. I hope this continues to lead to a growth in revenue at the countries of origin, enabling improvements in coffee farming and processing techniques and technologies, and enriching quality of life.
The biggest drinkers of specialty coffee are the 18-24 year olds, supporting 32.7% of the market – you know, the ones seeking out the latest in fashion, music, drugs and coffee. But the next bracket up, the 25-39 year olds are catching on, having waited for the results to come in from the youngin’s rigorous testing.
Local and independent coffee shops continue to be at the heart of communities. We really do love to support our local.
WE CARE A LOT
The choices we make of our coffee drinking decisions are increasingly being based on environmental and social factors. There is a rising demand for transparency in the industry, and for businesses to be certified for various issues, such as organic, fair trade, and B Corp.
Reusable coffee cups continue to rise, as does biodegradable packaging.
Alternative milks continue to be innovated and developed with the environment in mind. Potato milk, for example, is an attractive alternative alternative as potatoes use around half the land needed for an equivalent amount of oat milk.
Buying specialty coffee online spiked during 2020 – 2022, and is forecasted to rise at a compound annual growth rate of 12% over the next five years. Subscription boxes will continue to be popular, not just for their convenience of providing excellent coffee in the home, but also for introducing customers to new origins and flavours.
INSTANT ISN’T GOING ANYWHERE
While instant doesn’t hold a candle to the rate of increase of roasted coffee consumed per capita, it is growing, slowly and steadily. However what’s more interesting, is the price of instant is increasing at a higher rate than roasted coffee. Interesting.
That’s the snapshot of 2024 and beyond! As we’ve learnt from the last few years – anything can happen, but I think we’ve also learned the immeasurable value of a good cup of coffee for the taste buds and the soul. Which you and I know is what really matters.