Coffee shop’s sales are expected to hit £3.14bn this year, according to new research by Mintel.
The market analyst said sales had grown 28% in the last five years, rising from £2.32bn in 2010 to £2.97bn in 2015. The market grew an estimated 6% in 2015, helped by an increase in real incomes and consumer confidence.
Mintel further predicted the market would grow another 26% in the next five years, hitting £3.75bn in 2020.
The analyst said up to 74% of Brits now buy hot drinks out of the home, with 27% using independent coffee shops or cafes, 27% using fast food chains and 14% buying hot drinks from restaurants, pubs and hotels.
Jonny Forsyth, global drinks analyst at Mintel, said: “The nation’s appetite for coffee shops shows no signs of abating. The coffee shop boom has been remarkably recession-resistant in the past decade, which illustrates just how important a part of UK culture the fresh, specialty coffee habit has become.
“However, in 2015, the UK market was also helped by the increase in real incomes and consumer confidence seen during the year, which has led to more spend per visit. Large coffee shop chains continue to expand aggressively which is helping to boost the market.”
The news follows a study conducted by Caffè Culture Show, which showed 74% of independent coffee chains had experienced like-for-like sales growth in 2015.