According to IBISWorld, an independent market researcher, coffee bean prices are expected to drop and produce a growth in the industry for the next five years. But not just from coffee bean prices, average disposable incomes are also supposed to increase slightly. Put mo’ money with mo’ coffee together, and you get a lot more cups of joe being consumed.
What kind of numbers are we looking at?
- Global coffee production is increasing which will lead to an annual decline of 0.4% in coffee bean prices.
- Bean revenues will go up at .1% each year, totaling .7% by 2016 (average annualized five-year rate).
- The consumer industry is expected to increase at an average annual rate of 3.2% to $8.8 billion
- 2011 actually had a rise in coffee prices, so this year’s revenue is estimated to drop 0.5%
Hopefully we’ll be seeing more Dripps popping up soon.
Photography provided by Laura Izumikawa