U.S. coffee drinkers consume approximately 400 million cups every day, which in turn is part of a $30 billion industry in this country alone. While several large coffee companies account for a good portion of that, more specialized coffee brands that are a part of the growingly popular Third Wave Coffee movement are moving forward to take center stage as well.
What do these Third Wave Coffee drinkers look like? They’re often young, noticeably hip and willing to spend the money on an exceptional cup of Third Wave Coffee. Stumptown Coffee is one of the most recognizable Third Wave Coffee roasters.
On the topic of why Third Wave Coffee followers are willing to spend extra for their coffee, Stumptown Coffee president Joth Ricci said, “It’s the same with a high-end bottle of wine, or that great cheese, or that great steak.”
If anyone understands Third Wave Coffee consumers it should be Stumptown, which is now worth $52 million according to industry expert estimations.
What makes Stumptown’s Third Wave Coffee different from other mainstream coffee brands? Stumptown scouts out the finest coffee beans from across the globe, ships them to their roasters, then ship them to wholesalers.
Some industry experts believe specialized coffee such as Third Wave Coffee could be the future of consumption in the U.S.
Senior food and beverage analyst, Andy Brennan, at IBISWorld stated, “People are prepared to pay up for an experience now. There’s definitely a snob factor at play within Third Wave Coffee, and they’re quite proud of this.”
Originally from Australia, half of the coffee industry in Brennan’s home country has been overcome by the Third Wave Coffee movement. He believes the U.S. will soon follow.
Brennan said, “The type of coffee you drink is really becoming a statement about who you are, what you represent, where you come from now. This has been one of the biggest trends within Third Wave Coffee.”
Looking for the best Third Wave Coffee in Boston? Make a stop at Thinking Cup and enjoy a cup of perfectly brewed Stumptown coffee.