Millennials' desire for caffeine appears to be the uplift the coffee business needed at the exact right time.
The past few years have been rough on the coffee industry. Drought conditions have reduced the yield from many Brazilian robusta coffee farms, devasting infestations and diseases are obliterating coffee trees and at the same time, the National Coffee Association says, "Adults 60 and older saw a drop to 64 percent from 76 percent, and there was also a decline for the 40-to-59 age group."
All of this is bad news for coffee producers and consumers alike.
Insert our savors, Millennials, here.
WHO ARE MILLENNIALS?
Young people age 19 - 34
This group has a deep love for coffee and it only seems be growing.
According to Bloomberg;
In the eight years through 2016, daily consumption among 18- to 24-years-olds rose to 48 percent from 34 percent, while it climbed to 60 percent from 51 percent among those aged 25 to 39, according to the National Coffee Association in New York.
Not only is coffee consumption on the rise among the youths, but this group seems to have started far earlier than previous generations.
According to the study, "younger millennials, born after 1995, started drinking coffee at about 14.7 years old, while older millennials, born closer to 1982, began at 17.1 years." - Bloomberg
SOCIAL MEDIA IS THE OTHER WHITE KNIGHT
An element of this story that may be undervalued is the power of peer-influence and the pervasiveness of social media among Millennials.
As THE generation that created social media, their adoption of 'real-time' documentation of life allowed for the simple and wide distribution of images reflecting their bliss with a perfect cup of coffee. The affect among their peers is envy.
Their envy has resulted in tidal waves of coffee related content. And since coffee is the second most traded commodity in the world, access to a great cup isn't hard. Achieving the perfect Instagram coffee shot on the other hand, slightly more difficult, but they keep trying.
With each picture, LIKE, and Share, we coffee industry peeps get to keep working. So thank you, Millennials. Thank you for loving coffee and sharing that love. The feeling is mutual.