CHINA
According to a report by Channel NewsAsia, a coffee competition is brewing in China. Even though nearly 99% drink tea and only a little over 1% drink coffee according to a 2012 survey by Euromonitor, a market research provider. Statistics from the International Coffee Organization show the average Chinese consumer indulges in far less java than those in Japan, with an annual consumption rate of five cups per year compared to more than 350 respectively.
However, the coffee market in China is growing much faster than the rest of the world. Chinese citizens are traveling more for business and for pleasure than in previous decades, which translates to shifting tastes for food and beverages.
No longer is it safe to assume that instant coffee will remain the favored bean beverage there. Companies including Starbucks, Nestlé Nespresso, and Jakarta, Indonesia-based Mayora Group are strategizing how to take advantage of evolving Chinese taste preferences.
Though far too soon to predict which brands will emerge as market leaders, any company will do well if it can make regular coffee drinkers out of even 1- 2% of the Chinese.
Learn more: www.euromonitor.com/china