Since the early 90s, with the explosion in popularity of national chains like Starbucks and numerous local shops, Americans have made visiting coffee shops a part of their daily lives. And even with a recent pandemic, the coffee shop industry was still able to grow between 2018 and 2023 at a rate of 1.4%. The total revenue of the sector is expected to continue to grow by 3.5% through 2029.
Coffee is a highly consumable product, and the demand for specialty coffee has grown steadily in recent years.
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