Situation of Coffee Imports of the United States.
The Import-Export Department (Ministry of Industry and Trade of Vietnam) citing statistics from the International Trade Center (ITC) said that in the 10 months of 2021, the United States imported 1.35 million tons of coffee with a value of 1.35 million tons. price was nearly 5.72 billion USD, up 5.2% in volume and 19.7% in value over the same period in 2020.
Vietnam is the third largest coffee supplier to the United States. In particular, the United States increased imports of most types of coffee, except for roasted, ground and decaffeinated coffee (HS 090112).
Meanwhile, the average import price of US coffee reached $4,243 per ton, up 13.8% over the same period in 2020. In which, the average import price of US coffee from most countries main supply increased. The highest increase of 17.2% came from Colombia; the lowest increase of 3.3% from Vietnam.
In the first 10 months of 2021, the US increased imports from most of the main sources, except for Vietnam. The complicated development of the COVID-19 epidemic causing difficulties in transportation is the cause of the decrease in US coffee imports from Vietnam.
According to ITC, Vietnam is the third largest source of coffee for the United States (by total imports) in the 10 months of 2021, reaching approximately 118.3 thousand tons, worth $228.11 million, down 15 .1% in volume and 12.3% in value over the same period in 2020. Vietnam's coffee market share in total US imports decreased from 10.87% in 10 months of 2020 to 8. 78% market share in 10 months of 2021.
Information from https://www.mordorintelligence.com, the US coffee market is forecasted to grow at a CAGR of 4.8% during 2020-2025. The main factors driving the growth of the market are increasingly hectic lifestyles and long working hours. In addition, consumers in the United States are demanding about the quality of premium products.
Coffee is a very popular beverage in the United States. Coffee consumption in the United States has fluctuated slightly in recent years, but has remained at an average of 2 cups of coffee/day/person. That shows that this is really a potential market of Vietnam's coffee industry.
According to a survey by the National Coffee Association of America, more than 70% of consumers prefer to brew their coffee at home, and 59% of the coffee consumed daily is high-end coffee. Therefore, the United States becomes a large potential export market that any coffee producing country wants to penetrate, including Vietnam.
For any business, when exporting coffee to the US market, it is important to pay attention to the FDA registration procedure for this product. This is a mandatory regulation of the US side for Coffee products. Businesses that have been and are planning to export Coffee to this market, please contact us for instructions and FDA registration procedures.
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Won-Med (a certification consulting organization headquartered in Korea) is an organization that provides European standard CE Marking certification services to help businesses qualify for export as well as improve product quality. products at a global standard. In addition, we also represent businesses in the US by providing FDA registration services to bring products into the US, product announcement FDA 510K, product announcement PMA.