Monday, June 17, 2024
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HomeLatest ArticlesChina's coffee market reaches US$40 billion

China’s coffee market reaches US$40 billion

BEIJING, China – By 2023, China’s average per-capita coffee consumption will doubled from nine cups in 2016 to 16.74 cups. With 9,553 coffee shops at the end of 2023 – more than any other city in the world – Shanghai is still the global leader in this regard.

Last year, the worth of coffee beans exported by Shanghai-based businesses made up almost 40 percent of the entire nation. In 2023, Shanghai’s export value of concentrated coffee or items derived from coffee surpassed 21.45 million yuan, indicating a growth rate of over 70 percent when compared to 2019.

It was reported that the world’s interest in local coffee goods has increased due to the thriving coffee culture, which has also led to a rise in the demand for novel Chinese coffee variations such raw coconut latte and tea-based coffee.

The source claims that because their coffee orders have increased recently, customers between the ages of 12 and 27 may represent a significant portion of the market in the future. Furthermore, women make up roughly 70 percent of coffee drinkers.

In 2023, 20 percent of all cities in the nation had takeaway coffee sales, with Shanghai alone accounting for this percentage.

This was reported by China Daily, a partner of TV BRICS.

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