Americans may be drinking more bottled water than ever, but one drink continues to reign supreme in the beverage department — coffee, thanks to instant coffee, myriad flavors and types and, yes, Starbucks SBUX, +0.11%
The market for coffee hit 88.8 gallons per capita in 2016, nearly three times more than bottled water and miles ahead of the next most-consumed drinks, carbonated products like cola, sparkling fruit juice and other non-cola fizzy drinks; Americans drank 39.5 gallons per capita of the latter, according to Euromonitor International, an independent provider of strategic market research.
Americans also consumed 34 gallons of tea and 33.5 gallons of bottled water per capita. Only 8.8 gallons per capita of juice were consumed in 2016, which includes 100% juices as well as non-dairy fruit-flavored drinks. As of 2011, juice consumption had been on the decline for seven years. When it comes to beer, Euromonitor International estimated Americans drank 20.2 gallons per capita, 2.6 gallons per capita of wine and 1.6 gallons per capita of spirits.
Coffee is expensive when you buy it out. Beth McMillan, a Ph.D. student in the computer science at the University of Oxford, found that, if instead of buying a latte, you invested 3 euros ($3.19 in U.S. dollars) for every day you bought a latte into an account that paid 6% interest for 50 years, you’d end up with 318,135.57 euros, or $337,942.69. It’s not enough to make you a millionaire over your lifetime, but this calculation does show that all those cups of Joe add up.