CHARLOTTE — The Charlotte market has become a mecca for specialty coffee. Mom-and-pop brands, boutique offerings, franchises and national players such as Starbucks Corp. and Dunkin’ are all looking for their piece of a $68.5 billion U.S. market.
Home-grown brands Summit Coffee and Waterbean Coffee have been focused on expansion in recent years. Hex Coffee Roasters launched an offshoot brand, Fly Kid Fly, at The Bowl at Ballantyne. Clutch Coffee Bar is pursuing locations in the Carolinas for its drive-thru brand. The Giddy Goat Coffee Roasters has plans for a roughly $7 million facility in South End that will triple its roasting capabilities, expand its kitchen and offer a second full-service shop for the brand. National brand Caribou Coffee has reentered the market in recent months, and Bad Ass Coffee of Hawaii inked a three-store deal, with the first location planned in Rock Hill.
And that’s just part of the list. Nationwide, there were 77,586 coffee and snack shops as of August, according to Statista, which compiles global data and business intelligence. It found more than 38% of those surveyed visit a coffee or snack shop multiple times a week.
Consumers spend nearly $301 million on coffee and related goods daily — or about $110 billion per year. Annual sales at coffee shops account for $32.9 billion, according to an October 2023 report by the National Coffee Association. The industry represents 8% of the U.S. food-service sector.
America’s love affair with coffee will continue as the industry innovates and the link to potential health benefits grows, says Bill Murray, CEO and president of the association.
“There’s coffee for every taste and budget, and all businesses that serve coffee can provide coffee drinkers great options to enjoy their favorite beverage away from home,” he says.
The Charlotte Business Journal spoke with four coffee concepts in the local market about their brands, plans for the future and potential challenges. Read more here.
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