As coffee consumption grows exponentially in Korea – local coffee companies have started to eye and act in markets further afield
The growth of coffee shops and coffee drinking has exploded in the last 10 years with the pace quickening in the last 3 > 5 years
In 2008 there were 6,000 units in Seoul and the other major conurbations, by 2011, according to the Samsung Economic Research Institute,the number had jumped to 9,400 outlets! Eye watering performances!
Unsurprisingly, the largest chunk of business in Korea is based in Seoul, where five ‘big international hitters’ rule the market with a +40% share
However, the coffee market is now reaching saturation – hence the plans for overseas market domination!
For instance, Caffe Bene, has opened outlets in the United States and China, with the very first unit in New York, where the menu includes local ‘specialities’, such as ‘misugaru latte’ a mixed grain powder based beverage – interesting!! 🙁
Lotte is also active with its chains and the big corporates such as Kraft and Nestle are working in the market place
Similarly – ‘The China Daily’ published an interesting article recently about the development of the coffee industry in China
The article was triggered by the clear success of the Italian coffee brand Illy and has been supported by the MD of the Chinese operation advising he expects the local market to more than double within 5 years. Now if that doesn’t start a gold rush I don’t know what will!
Illy goes on to advise, that before 2020, 15 > 20% of their total sales revenues are expected to be generated in Asian market
On the basis that, despite rapid growth, the average Chinese individual consumes 4 cups of coffee per year and that the average global consumption is 240 cups per person, per year, the sheer volume and opportunity in Chinese market really does give new meaning to the ‘ Go east young man..go east’!”
Guru writes for Aromo Coffee – They are coffee experts focussed on providing convenient and tasty ways for the caffeine addict to take their medicine. Aromo supplies excellent ESE Coffee pods and superlative Senseo pods, both of which offer the espresso and filter connoisseur a no mess, no fuss, super fresh and environmentally conscious method to make stunning coffee… the guys at Aromo also have a range of Dualit branded capsules which make a brilliant and economic alternative to nespresso capsules