Due to the rise of remote work and the need for flexible workspace, we often focus on that aspect of the Parlay Cafe franchise opportunity. And it’s true; remote work continues to grow at a fast pace, offering potential franchise owners a valuable opportunity to capitalize from this trend.

But that’s not the only market trend supporting the growth of Parlay Cafe franchises. Coffee shops in general have exploded in popularity in recent years. Just check out these facts from Ibis World Research:

 

What is the market size of the Coffee & Snack Shops industry in the US in 2021?

The market size, measured by revenue, of the Coffee & Snack Shops industry is $47.1bn in 2021.

 

What is the growth rate of the Coffee & Snack Shops industry in the US in 2021?

The market size of the Coffee & Snack Shops industry is expected to increase 6% in 2021.

 

Has the Coffee & Snack Shops industry in the US grown or declined over the past 5 years?

The market size of the Coffee & Snack Shops industry in the US has grown 2.5% per year on average between 2016 and 2021.

 

Is the Coffee & Snack Shops industry in the US expected to grow or decline over the next five years?

See our full analysis of the Coffee & Snack Shops industry in the US to understand if the industry market size is expected to grow or decline over the next five years.

 

How has the Coffee & Snack Shops industry performed compared with other US industries over the past five years?

The market size of the Coffee & Snack Shops industry in the US increased faster than the economy overall.

 

How has the Coffee & Snack Shops industry in the US performed compared with the Accommodation and Food Services sector in the US?

The market size of the Coffee & Snack Shops industry in the US increased faster than the Accommodation and Food Services sector overall.

 

Where does the Coffee & Snack Shops industry in the US rank in terms of market size in 2021?

The Coffee & Snack Shops industry in the US is the 7th ranked Accommodation and Food Services industry by market size and the 219th largest in the US.

 

What factors affect growth of the Coffee & Snack Shops industry in the US?

The primary positive factors affecting this industry are consumer spending and per capita coffee consumption.

 

What is the biggest opportunity for growth in the Coffee & Snack Shops industry in the US?

Coffee shops account for a large portion of industry revenue and establishments, and most other industry establishments also serve coffee. When coffee consumption increases, coffee shops and other snack shops experience revenue growth. Per capita coffee consumption is expected to increase in 2021, representing a potential opportunity for the industry.

 

The growth in popularity of both coffee shops in general, and flexible remote workspaces in particular, equals an unprecedented opportunity for would-be business owners. To learn more about how Parlay Cafe is poised to capitalize on multiple market trends, contact us for information on our franchise program.

 

Source: https://www.ibisworld.com/industry-statistics/market-size/coffee-snack-shops-united-states/