China may become the world's largest coffee market in the next 10 years.
[global Network Comprehensive report] according to Yonhap news agency reported on June 1, "tea culture" developed China is rapidly becoming the world coffee market. Although coffee is still unfamiliar to the Chinese, with the rapid development of China's economy and the impact of westernization, China is expected to develop into the world's largest coffee market within a decade.
China's average annual coffee consumption per capita in 2014 was 5 cups, a far cry from the world average of 240 cups, according to the Korea Trade and Investment Promotion Commune. But if you only consider the total sales of coffee, China has reached the world level. In 2014, coffee sales in China totaled 659.9 billion yuan, an increase of 7 percent over the same period last year. Sales reached 60893 tons, an increase of 3.4 percent over the same period last year.
In China, the main consumers of coffee are between 20 and 30 years old, with instant coffee accounting for 71.7%, followed by liquid coffee (18.1%) and freshly ground coffee accounting for only 10.1%. But with more and more Chinese looking for premium coffee, sales of freshly ground coffee in China rose 22.1% in 2014 compared with the same period a year earlier. The market development rate of ground coffee and liquid coffee is expected to exceed that of instant coffee.
In addition, with the gradual expansion of China's coffee market, coffee shop competition will continue to increase. Although there are coffee brands stationed in China in South Korea, the results are not satisfactory. The person in charge of Korea Trade and Investment Revitalization Commune said, "recently, many Korean coffee brands have entered the Chinese market, but the results are not very satisfactory, mainly because many brands do not understand the Chinese market, or still adhere to the Korean way of operation." (translated by Li Tingting and reviewed by Li Xiaofei)
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