Coffee consumption in a post pandemic society
Coffee is one of the most globally consumed beverages, with over two billion cups being drunk around the world each day. From a customer-focused perspective, the majority of people in the world now have access to coffee. The caffeine-based beverage can also be served in a variety of ways to suit a particular geographical or age demographic, with warm coffee for example being more popular in colder countries while iced coffee is becoming increasingly popular with millennials and in warmer climates, and the option for decaffeinated and caffeinated coffee makes it a popular choice when it comes to increasing energy levels and improving physical performance.
According to findings made by the Digital PR team at Embryo, over 95 million cups of coffee are consumed per day in the UK, with that number set to rise as further restrictions have eased and more people are consuming food and drinks outside of the household, increasing the overall demand for coffee. Further research also reveals the top ten countries across the globe with the highest coffee consumption, with Finland currently at the top spot with over 27 lbs of coffee being consumed per person. Norway, Iceland, and Denmark were also some of the other countries with the highest coffee consumption per person as people turn to hot beverages in order to keep warm in colder climates.
From a trade perspective, the world’s coffee consumption was estimated at 169.34 million bags in 2020, just under 1% higher than in 2019. Although the coffee trade is strong, with exports amounting to 11.11 million bags in February 2020, compared with 10.83 million in February 2019, a recent report conducted by The ICO, indicated that there had been a drop in the growth of global demand for coffee as a result of restrictions over the past year due to fewer people consuming the beverage in bars, restaurants, and the workplace.
Although the Covid-19 pandemic is likely to have had an effect on the coffee sector, findings made by Embryo indicate an increase in the amount of coffee exported throughout 2020, with 2021 set to be the best year on record for coffee production and exportation for Brazil. From these findings, we can predict that the amount of coffee exported will only continue to rise as the demand for coffee increases with restrictions easing further and more people consuming coffee out of the home. However, according to findings by The ICO, the impact of Covid-19 also presents another considerable risk to global coffee consumption, with demand expected to potentially exceed production. It will be interesting to see how this sector will adapt to these challenges with regard to supply and demand over the next 12 months.