China's coffee market has huge potential

"According to the data, the annual per capita coffee consumption was only six cups seven years ago, but now it has increased to 15 cups, of which freshly ground coffee accounts for 9 cups and instant coffee accounts for 6 cups. Although the growth rate is already very fast, compared with Europe and the United States, China's annual per capita coffee consumption still has a lot of room for improvement. The annual per capita coffee consumption in Europe and the United States is as high as more than 600 cups, and the annual per capita coffee consumption in Japan and South Korea in Asia is also close to 300 to 400 cups. This gap shows that the Chinese coffee market still has huge potential and room for development." Li Yingbo, chief strategy officer of Kudi Coffee, said. According to Tianyancha Professional Edition data, as of now, there are more than 229,000 existing coffee-related companies, of which more than 18,000 new registered companies were added from January to May 2024, a ...