In a work-from-home world, hitting the local cafe for a daily caffeine fix has become a ritual of the now-forgotten past. And no matter how much kitchen brewing consumers take up, that just can’t seem to make up for the demand blow.
Global coffee consumption is set to fall this year for the first time since 2011, the U.S. Department of Agriculture predicts. That’s even with a huge surge in bean buying at the grocery store amid pantry loading. Shutdowns for cafes and restaurants — which typically account for about 25% of demand — were overwhelming, and it could be a while before things pick up again.