NEW YORK, USA – The global office coffee service market in US size is estimated to increase by USD 1,115.82 million from 2022 to 2027 shows a new report from Technavio. The market’s growth momentum will progress at a CAGR of 8.32% during the forecast period. The global office coffee service market in US is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer office coffee service in US are A.H.
Management Group, Aramark, Bunn O Matic Corp., Coffee Ambassador Inc., Continental Vending Inc., Corporate Essentials LLC, Daioh USA, Farmer Bros Co., InReach, jacobs DOUWE EGBERTS B.V., Keurig Green Mountain Inc., Nestle SA, Sodexo SA, SunDun Inc., US Coffee, Vending Group Inc., Westrock Coffee Co., XPRESSO DELIGHT LLC, Luigi Lavazza SpA, and Royal Cup Inc. and others.
Office coffee service market: Leading Drivers
The growing working population in the US drives the market growth of office coffee services in the US. According to the Bureau of Labor Statistics (BLS) in the US, 163.8 million people are anticipated to be employed or actively seeking employment by 2024. Also, over the period of a decade between 2014-2024, a 7.9 million increase in the labor force, or an average annual growth rate of 0.5%, is anticipated.
Also, the demand for coffee services increases as new companies emerge and existing businesses expand. This creates opportunities for providers to cater to the growing working population. Hence, the growing working population in the US is the major driver, which is expected to boost the growth of the office coffee service market in US during the forecast period.
Key Trends
The increasing demand for specialty coffee is an emerging office coffee service market in US. High-quality coffee that is produced and processed with exceptional care and attention to detail, often from a single origin or small region, is called specialty coffee. It is grown and harvested under strict conditions, such as at high altitudes or in shade-grown conditions to ensure the best possible flavor and aroma.
Also, specialty coffee shops and cafes offer consumers a wide range of high-quality coffee blends and single-origin coffees. Furthermore, various consumers are looking for high-quality, artisanal coffee blends that are sourced from small, independent farms and roasted with care and attention to detail. Hence, such trends fuel the growth of the market during the forecast period.
Major challenges
Maintenance and equipment management challenges related to office coffee machines hinder market growth. It can be a costly affair to carry out regular maintenance and repairs of coffee brewing equipment and providers need to allocate funds for maintenance activities, including technician fees, spare parts, and equipment servicing.
But ensuring a quick response time can be challenging, especially if the provider has a large client base or operate in remote areas. Moreover, equipment breakdowns or repairs can result in downtime and service interruptions for clients, resulting in dissatisfaction, potential loss of contracts, and negative impacts on the provider’s reputation. Hence, such challenges impede market growth during the forecast period.
