(Source from Reuters/Alamy)
For the first time in 20 years, China surpassed the U.S. to become the world’s largest coffee shop owner, the Guardian reported on Wednesday (local time). The World Coffee Portal, a U.K. market research firm, reported in a November survey of its own coffee franchises that the number of coffee shops opened in China over the past year totaled 49,691. The figure represents a 58 percent increase. In the U.S., the number of coffee shops increased by only 4 percent to 46,62. As a result, the number of coffee shops opened in China is now larger than that operated in the U.S. for the first time in 20 years since the survey began. The popularity of coffee shops in China was led by the local coffee chain brand Luckin Coffee. Luckin Coffee opened 5,059 new stores in China in a year, rising to No. 1 with 13,273 stores in just six years since its establishment. The total number of coffee shops set up by former Luckin Coffee management in 2022 has increased by 6004 stores, bringing the total to 6,061. “The East Asian coffee shop market is showing rapid growth due to the remarkable expansion of stores in China,” a World Coffee Portal official said.
(Source from Reuters/Alamy)
“China has emerged as the heart of the global coffee industry.” Starbucks topped the list in East Asia including China. Starbucks added 1,223 stores in 15 countries, bringing its total to 13,524. “As the East Asian coffee shop market is maturing, rapidly growing companies are increasingly looking at opportunities to advance into overseas markets,” a World Coffee Portal official said. “Coty Coffee has entered Korea, Indonesia, Japan, and Hong Kong, and Luising Coffee has also made inroads in overseas markets over the past year.”
SOPHIA KIM
US ASIA JOURNAL
