The seemingly unstoppable march of the specialist coffee joint
The sector is growing the fastest of any in the global restaurant trade.
COFFEE SHOPS ARE the fastest-growing sector in the global restaurant trade as consumers’ thirst for the caffeinated drink continues unabated.
Last year, according to figures from Euromonitor International, specialist coffee shops worldwide increased their sales 9.1% – a rate of growth nearly two-thirds higher than the overall increase for the food-outlet trade.
And unlike in many other restaurant sectors, such as the fast-food industry, the growth wasn’t just coming from the ever-increasing middle classes in Asia and other developing nations.
Sales among specialist coffee shops in western Europe were up 10.8% between 2014 and 2015, compared to a decline in trade across the region for traditional cafés. All areas were expected to show strong growth over the next four years.
Starbucks vs the rest
In her analysis, Euromonitor’s Elizabeth Friend said the shift to a “highly diversified playing field” of local outlets and international brands like Starbucks and McDonald’s McCafe was also a global phenomenon.
However in “developed markets” like the US, competition tended to be more regional with boutique chains popping up to compete with the multinationals.
Overall, Starbucks remains the dominant global player – outselling its nearest rival by a factor of more than 10 to 1:
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Meanwhile in Ireland, Bord Bía’s food-service report for 2014 put the value of consumer spending in coffee shops and cafés at €345 million – although it predicted a modest 2.5% annual growth in the sector to 2017.
Euromonitor separately placed the value of retail coffee sales in the Republic at €96.5 million in 2015, an annual increase of 18%. The growth all came from the fresh product, with sales of instant coffee broadly in decline.
