Global coffee consumption is down for the first time since 2011.
An increasing number of people are making do without their daily caffeine fix for the first time in 9 years and experts believe COVID-19 is to blame.
Office workers now working-from-home and people tightening their purse strings are believed to be partly to blame, but the biggest contributor has been the shutdown of cafés and restaurants.
Researcher Marex Specton estimates that more than 95 per cent of the global out-of-home coffee market was closed at some point in the pandemic.
And it’s not just cafés and restaurants that are feeling the heat.
125 million people globally depend on coffee beans for their livelihood, and many suppliers are having to make tough decisions due to a decreased demand.
“Some of our franchising partners already warned us that they will close,” said Felipe Braga, chief executive of Brazil coffee bean supplier Suplicy Cafes Especiais.
So if you’re on the fence about getting a takeaway coffee this afternoon get one!
