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OAK BROOK, Ill., Jan. 10 (UPI) -- U.S. fast-food giant McDonald's is preparing to jump into the growing premium coffee business later this year or in 2006, USA Today reported Monday.
Having watched Dunkin' Donuts and 7-Eleven post higher revenues by competing against Starbucks, the world's largest fast-food chain says it will test and then offer specialty coffees at its 13,000 U.S. restaurants.
"Coffee has increased in popularity beyond a breakfast beverage," spokesman William Whitman said. "We see an opportunity to bring our customers a better-tasting product at a value price."
The number of adults drinking specialty coffees has doubled in four years to create an $8.9 billion market.
UBS Investment analyst David Palmer estimates sales of premium coffee, which use a higher-grade bean than normal coffee and sell for a bigger margin, could hike McDonald's sales by 2 percent.
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