I know what you're thinking, "What on earth does Britain leaving the EU have to do with coffee and how is that related to technology?" Well, as the ninth largest importer of coffee in the world, quite a lot actually. The British may be more known for their tea drinking, but coffee is a rapidly growing commodity. In fact, while pubs are on the decline, coffee shops are opening left and right with an average growth rate of over 15 percent per year.
Britain has become a nation of coffee connoisseurs with a thirst for more and a desire for quality. While consumption habits pale in comparison to the Scandinavians and Italians, they are rising faster than ever before with the average Brit drinking more than one cup per day (70 million cups in total). In short, coffee is big business.
But how does coffee consumption affect coffee making technology...
Well, now that the UK has turned into a nation of coffee lovers, smart coffee machines have become hot property. They are the fastest growing tech gadget in the food and drink sector -- followed closely by smart refrigerators -- and a soon-to-be must have for the modern kitchen. This also proves that coffee's rise in popularity is as much about the "science and technology" of coffee making as it is making a great brew.
But here's the kicker... manufacturers are starting to get cold feet. For example, German brand Siemens, produce everything from MRI scanners to wind turbines; however, in recent years they've made huge strides in the coffee maker business, creating new trends that are being replicated by countless other tech giants. While CEO of Siemens UK, Juergen Maier, has stated that the UK will still be a great place to do business, he has also said that the they will have to be more careful with their future investments, especially regarding new innovations. At least until solid trade agreements have been struck
Last week Theresa May announced her intentions to leave the Single Market, finally admitting that the country can't retain privileged access and leave the EU at the same time. While May has yet to reveal her plans in any detail it's safe to say that the coffee industry won't be too high on her agenda. And if the tech industry as a whole is expected to reach a sudden plateau, the coffee industry will follow -- the two are more connected than people realize. So, whether or not London will be able to retain its status as one of the world's premiere coffee cities is yet to be seen.
And then there's the price... Britain will be subject to tariffs. Despite Theresa May's comments that penalties "would not be the act of a friend" the fact of the matter remains, Britain will no longer be a member of the EU and will unlikely gain tariff-free access to the Single Market. Coffee is already becoming more expensive after the referendum, and if manufacturers and innovators start taking their investments across the channel, smart coffee machines will also become more expensive.
So could Brexit harm the coffee industry? In the short term, most definitely. In the long-term, perhaps -- it really depends which think tank you subscribe to. Connoisseurs or not, when the price per cup is high and the technology starts lagging, people will begin losing interest, reverting back to the trusty old teabag.