Paul, a French bakery and restaurant chain, is ramping up to expand its reach in Cambodia, Laos, Myanmar, and Vietnam.
The company, already successful in Thailand, wants to take advantage of the growing consumer demand for fresh coffee according to a report in the Bangkok Post.
"The bakery and cafe market is saturated in Thailand, while local consumers have developed a thirst for coffee, especially freshly brewed coffee," said Vitchuda Sukeewattanamongkol, general manager of Bakehouse Co. under Charoen Pokphand (CP) Group, which operates Paul bakeries in Thailand and the CLMV bloc (Cambodia, Laos, Myanmar, Vietnam). "More importantly, Thailand is a global tourist destination and travelers are familiar with Paul."
Forecasts by the Asian Coffee Federation and the Barista Association of Thailand indicate the growth of Thailand's coffee market is set to double over the next five years, according to the report. The premium coffee segment is expected to double as well. The mass coffee market is predicted to grow by two or three times.
Thailand's coffee market alone already is valued at nearly $2 billion.