You’ve been hearing a lot about it, but what is specialty coffee? According to the Specialty Coffee Association (SCA), specialty coffee – also known as gourmet coffee – can be defined as, “a coffee or coffee experience recognized for its distinctive attributes, and because of these attributes, has significantly extra value in the marketplace.” Specialty coffee statistics show that there will be significant growth in the gourmet coffee industry. Here are the latest specialty coffee trends brewing hot right now and who’s buying.
Revenue in the coffee industry is projected to hit $85.16 billion in 2022, and it’s expected to show a volume growth of 5.8% in 2023. Globally speaking, the majority of coffee sales are generated in the United States. Whether piping hot or cold brewed, Americans love their coffee.
Whether you’re a bean snob, an on-the-go caffeinator, or someone who likes to tuck in with friends or a good book over a cup of joe, coffee helps fuel over 64% of Americans on a daily basis, consuming about 146 billion cups of coffee per year.
A large portion of consumers prepare their coffee at home, so what can businesses do to draw them through the café doors and drive thrus? Since unique ingredients and complicated machines are expensive and difficult to keep at home, people often venture out when they want something more than a basic cup of coffee. Specialty coffee statistics show that consumption has recently hit a five-year high, with 43% of coffee drinkers choosing specialty coffee over other alternatives.
If people are going to venture out for their coffee, they want it to be special and different from what they could make for themselves at home. But it should also be convenient and affordable or provide them with a coffeeshop experience that allows them a brief respite from their day.
Though the definitions of what makes for specialty coffee may vary, it usually starts with the beans. Once graded on two scales for quality, the term “specialty coffee” is used to describe coffee which receives a Grade One green grading score and a cupping score of 80 out of 100 points or more. Specialty coffee beans are sourced in an ethical and environmentally conscious way. Coffee of outstanding quality both farmed and brewed to a substantially higher level than the norm is specialty coffee. And basically: specialty coffee tastes better!
The global specialty coffee market was valued at $30.74 billion in 2020 and is projected to reach over $50 billion by 2027, with a CAGR of 7.2%. The bottom line is specialty coffee consumption is on the rise.
Old-school diners and coffeeshops will always have a place in the world, but more and more, consumers are looking for something new to add to their java experience. While drip coffee and espresso-based drinks are the mainstays, variations on the classics are growing in popularity and giving business owners additional options to draw in customers.
From flavored lattes to cold brew to nitro to buttered or fermented, the coffee market presents an ever-changing and nearly endless opportunity for prospective business owners to make the most of the newest specialty coffee trends.
In 2023, consumers will continue to appreciate various options and convenience when seeking out their coffee. But after a couple years of lockdowns and social distancing, they will also be looking for comfortable and inviting places to gather over a cup of joe. After starting as a drive-thru kiosk, the Scooter’s Coffee founders understood the importance of offering an in-house option, as well.
What was first conceived of as a convenient, affordable way for consumers to get their caffeine fix has expanded over the years to include different franchise models that present coffee business opportunities for every qualified entrepreneur.
The Scooter’s Coffee menu continues to adapt and evolve to keep up with changing specialty coffee trends and help us keep serving the most amazing coffee and food to our happy customers.
If you would like to learn more about Scooter’s Coffee opportunities in your area, request franchise information and one of our representatives will be in touch.