Insight
Asia
Food & Drink Story Update
Source :
COFFEE BREWS UP SUCCESS IN ASIA : INDONESIA , INDIA AND VIETNAM AMONG THE FASTEST GROWING COFFEE MARKETS GLOBALLY
T he global coffee market continues to brew up a storm and Asia is playing a key role in its growth . New research from Mintel reveals that three out of the five fastest growing retail coffee markets are in Asia . Indonesia is currently the fastest growing packaged retail coffee market with a CAGR of 19.6 % over the past five years , while India has had a CAGR of 15.1 % and Vietnam 14.9 %. Overall , the global coffee market continues to grow steadily , with expected retail volume growth of 2.7 % in 2016 , following a 2.5 % rise in 2015 .
While Asian markets currently make up the majority of the world ’ s fastest growing coffee markets , European markets , as well as Australia , are among the slowest . Mintel research indicates that Finland ’ s mature coffee industry declined the most between 2011 and 2016 with a CAGR of -3.7 %, followed by Australia ( 0 %), Poland ( 0.1 %), the Netherlands ( 0.5 %) and Belgium ( 0.5 %).
The boom in Asia ’ s coffee market has been driven by a surge in innovation of coffee products . According to Mintel ’ s Global New
Products Database ( GNPD ), between 2011 and 2016 the number of new coffee products launched in Asia has risen by 95 %. In comparison , the number of tea products launched has risen by a comparatively low 55 % in the same time period .
‘ Indonesia is currently the fastest growing packaged retail coffee market with a CAGR of 19.6 % over the past five years , while India has had a CAGR of 15.1 % and Vietnam 14.9 %. Overall , the global coffee market continues to grow steadily , with expected retail volume growth of 2.7 % in 2016 , following a 2.5 % rise in 2015 .
,
20