NPD has reported that Millennials are at the center of the niche segment of consumers embracing craft coffee brewing methods at home. Fueled by this trend, NPD is forecasting 9% growth in coffee consumption by 2024.
“The craft coffee movement, which is already embraced by the country’s largest generational group, Millennials, is well-positioned to capitalize on future industry growth,” said Joe Derochowski, executive director and home industry analyst at NPD.
In its latest report, “Craft Coffee At Home,” NPD officials stated that craft coffee brewing methods, such as pour over cones, French presses, and vacuum brewers, is how 11% of U.S. young adults older than the age of 18 brew their coffee at home.
The study found that Millennials are twice as likely as their Baby Boomer parents to use craft brewers at home. These younger consumers represent 44% of at-home craft coffee brewers, noted NPD, and more than a third live in urban areas. An extra benefit of at-home craft coffee is that the small size of the brewers accommodates the space constraints of city living spaces.
“Millennials, who are driven by creativity and the desire for personalization, are attracted to craft coffee brewing because of the skill and challenge involved,” said Derochowski. “Craft coffee brewing enables them to participate in the experience of creating a perfect cup of coffee.”
NPD reported that urban consumers living in major cities are influenced by the prevalence of coffee bars and shops and, as a result, have discerning tastes when it comes to coffee. In addition, NPD officials suggested that craft coffee brewing at home enables them to personalize coffee to their individual tastes and get the same quality and flavor of the coffee they buy away from home.