Prices increase as coffee demand reaches record high

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LEE'S SUMMIT, Mo. (WDAF) -- If you were you up late Tuesday watching the election, you may need to grab an extra cup of coffee before heading into work Wednesday.

A new study shows millennials are pushing coffee demand to historic levels, and a coffee shop in Lee's Summit that has been in business for 28 years has seen the trend first hand.

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Price of coffee at 10 fast food places
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Price of coffee at 10 fast food places

Wendy's

Hot coffee (regular or decaf), regular: $0.99

McDonald's

McCafe premium roast coffee, small: $1.00

Burger King

Smooth roast coffee, small: $1.00

Krispy Kreme

Coffee (smooth, rich, or decaf), small: $1.59

Dunkin' Donuts

Hot coffee, small: $1.59

Tim Hortons

Coffee (original blend, dark roast or decaf): $1.59

Caribou Coffee

Coffee of the day, small: $1.69

Panera Bread

Hot coffee, small: $1.89

Starbucks

Freshly brewed coffee, tall: $1.85

Bruegger's Bagels 

House blend coffee, small: $1.99

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"When I was growing up, we really were not hanging out in coffee shops," Whistle Stop Coffee owner Candace Jennings said. "It was not a thing and now this is the thing to do. This is what my kids like, they come here and they read they do their homework, they work on their computers and hang out with their buddies."

The owner says they've seen coffee consumption increase by nearly 80 percent during that time, especially in the last five years.

As the demand has increased, so has the price of coffee beans. According to Bloomberg,the price off coffee beans is at its highest level since early 2015. The trend has to do with several factors, including increased popularity among millennials.

"Coffee prices have definitely gone up in the last few years," Jennings said. "We have noticed that the farms are having a hard time keeping up with that. Everyone has to keep in mind that a lot of these beans are coming from small little farms and small farmers so they can only keep up with what they have on their land."

Bloomberg's report showed millennials consume 44-percent of all coffee in the U.S.

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