Market Insights Consumer Hot Drinks Coffee

Instant Coffee - United States

United States

In 2023, the revenue in the Instant Coffee market in the United States amounts to a staggering US$1.9bn.
According to projections, the market is expected to grow annually by 1.54% (CAGR 2023-2028).
When compared globally, the highest revenue is generated in Japan, reaching US$4,741m in 2023.
Taking into account the total population figures, the per person revenue in the United States Instant Coffee market is estimated to be US$5.61 in 2023.
Looking ahead, by 2028, the volume in the Instant Coffee market is projected to reach 83.2m kg.
However, in 2024, the market is expected to experience a slight decline with a volume growth of -0.2%.
On an individual level, the average volume per person in the United States Instant Coffee market is forecasted to be 0.25kg in 2023.
The United States is experiencing a surge in demand for premium instant coffee, driven by the convenience-seeking and time-conscious consumer base.

Key regions: Hong Kong, Worldwide, United States, Australia, China

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Currency

Methodology

Data coverage:
The data encompasses B2C enterprises. Figures are based on private Household spendings on Hot Drinks. The data only covers at-home sales (e.g., sales via supermarkets, hypermarkets, convenience stores). Out-of-home sales (e.g., sales in Hotels, restaurants, bars) are only shown as a separate box in the aggregated Hot Drinks market.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as production data, region, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Hot Drinks market with a projected steady growth.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.