China Surpasses the US in Branded Coffee Shops: According to World Coffee Portal, China now has more branded coffee shops than the US. Branded coffee shops in China increased 58% in the past year to 49,691. Opening 785 stores throughout the same period, Starbucks contributed to this expansion. Luckin Coffee, despite facing a fraud scandal and being delisted from Wall Street, is currently China’s largest coffee chain with over 13,000 outlets.
Over 90% of 4,000 Chinese coffee shop customers surveyed by World Coffee Portal drink hot coffee weekly, while 64% drink iced coffee. Nearly 90% visited or ordered from a coffee shop weekly.
Despite economic challenges, China has become a powerhouse in the global coffee industry. Starbucks, recognizing the potential, invested over $200 million in a new campus in the eastern part of the country earlier this year. China has consistently been a key growth driver for Starbucks, serving as its second-largest market worldwide and the top overseas market. However, Starbucks CEO Laxman Narasimhan emphasizes that the company is still in the early stages of its growth in China, targeting 9,000 stores in the country by 2025.
This shift underscores China’s evolving coffee culture and increasing consumer demand for diverse coffee experiences. The industry’s growth reflects not only changing preferences but also the resilience of China’s coffee market amid economic uncertainties. As coffee consumption continues to rise, both local and international coffee brands are positioning themselves to capitalize on this dynamic and expanding market.
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Our Reader’s Queries
What is the leading coffee shop in the world?
Currently, Starbucks boasts a whopping 35.7 thousand stores worldwide as of 2022. This includes other segments owned by the coffee giant, such as Siren Retail and Teavana. With this impressive number, Starbucks has solidified its position as the largest coffeehouse chain in the world.
What company is known as the world’s leading brand of specialty coffee?
With a staggering 32,000 stores spread across 80 countries, Starbucks has cemented its position as the leading roaster and seller of specialty coffee worldwide. Its unparalleled success is a testament to the brand’s unwavering commitment to quality and innovation. From its humble beginnings to its current global dominance, Starbucks has revolutionized the coffee industry and continues to set the bar high for its competitors.
Why has coffee become so popular in China?
As China opened up its economy in the 1980s, it was introduced to western influences, including the love for coffee culture. This sparked a rapid growth in the coffee industry in China, fueled by the changing lifestyles of the country’s rising middle class. Today, the industry continues to thrive at an unprecedented pace.
How big is the Chinese coffee market?
The coffee market in China is projected to reach a value of USD 2.06 billion by 2023.