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What are the statistics across the different age groups of the amount of coffee purchased every week, month and year in the US?
Hello! Thank you for your question about coffee purchases in the U.S. The most useful sources I found to answer your question are The National Coffee Association and Mordor Intelligence. The short answer is that the U.S is the largest coffee consumer globally, with Americans consuming more coffee than any other beverage. Below you will find a deeper dive of my findings.
METHODOLOGY
To provide you with a comprehensive overview of coffee purchase statistics in the U.S., I have broken down my research findings into the following categories: Coffee Sales, Demographics, and Growth and Trends. My research revealed that most information sources related to this industry report on overall coffee consumption as opposed to sales; however, the findings that I have included are specific to coffee purchases as per your request.
COFFEE SALES
The overall coffee industry in the US had an economic impact of $225.2 billion in 2015. 1.6% of the total US gross domestic product in 2015 was a result of economic activity related to the coffee industry. In the same year, US coffee consumers spent $74.2 billion on coffee purchases. Specific data related to the amount of weekly and daily coffee purchases was not available, so if we assume that consumption was the same month-to-month, we can also assume that Americans spent approximately $6.2 billion monthly and $203 million daily on coffee purchases in 2015.
CALCULATIONS
$74.2B / 12 = $6.18B per month
$74.2B / 365 = $203M per day
Mordor Intelligence market research indicates that 83% of American adults drink coffee, with each spending an average of $21 per week on coffee purchases. The American Society for Nutrition found a similar statistic: "75% of the US population" drink coffee, 49% of whom consume it daily.
DEMOGRAPHICS
From a demographic perspective, there is little to no variance among coffee consumers in the U.S when considering factors such as education, gender, or health. The most notable demographic factor among coffee consumers is age. The calculations below assume that spending month-to-month and day-to-day are consistent.
Millennials, age 19 to 34, consume the most coffee of any age group in America. With this age group consuming 44% of the coffee in the U.S. and considering the total U.S. spend of $74.2 billion in 2015, they spend an estimated $32.6 billion annually on coffee purchases. This translates to approximately $3 billion monthly and $90 million daily spent on coffee purchases by this age group.
CALCULATIONS
$74.2B x 0.44 = $32.6B annual spend
$32.6 / 12 = $2.72B monthly spend
$32.6 / 365 = $89M daily spend
The remaining 56% of U.S. coffee consumption is attributed to Americans age 34 and older. Based on the total U.S. spend of $74.2 billion in 2015, this older age group spends approximately $38.6 billion annually, $3.2 billion monthly, and $104 million daily on coffee purchases.
CALCULATIONS
$74.2B x 0.56 = $41.6B annual spend
$41.6B / 12 = $3.5B monthly spend
$41.6B / 365 = $114M daily spend
GROWTH AND TRENDS
>> Among the 22 raw materials that is followed by the Bloomberg Commodity Index, coffee prices had the fifth highest return in 2016.
>> Between 2015 and 2016, the U.S. coffee consumption growth rate was 7.9%. This performance and growth is attributed to increased global demand for coffee, fueled by the introduction of coffee capsule systems and coffee shop expansion.
>> Daily consumption by millennials, increased by an average of 12% in 2016, with coffee consumption reported to be beginning earlier in life.
>> From a trend perspective, high-quality coffee products are the preference of most Americans. The most commonly used coffee products in the U.S. are roasted beans and instant coffee.
>> 36% of U.S. retail sales result from roasted and ground coffee products. Consumption in the U.S. is estimated to reach approximately 24 million bags of coffee annually by 2020.
CONCLUSION
To wrap it up: my calculations indicate that millennial spend on coffee is approximately $32.6B annually, $2.72B monthly, and $89M daily. For adults 35 and older, the spend breakdown is approximately $41.6B annually, $3.5B monthly, and $114M daily. Thanks for using Wonder! Please let us know if we can help with anything else!