Breville, a leader in kitchen appliances, is making a bold move in China’s fast-growing coffee market. This market is valued at around USD 4.24 billion and is expected to grow even more in the coming years. Forecasts show it could reach USD 5.64 billion by 2030. Some sources believe the market could be worth as much as USD 21 billion even sooner, by 2024, with an impressive growth rate of 10.19%. This shows the company is stepping into a lucrative space as interest in coffee continues to soar.
Consumer preferences are changing rapidly in China. Many people are now turning toward specialty and artisanal coffee options. Young adults, particularly those aged 25 to 44, make up a large portion of coffee drinkers in the country. This demographic is not only open to trying new styles of coffee but is also keen on convenience. Ready-to-drink coffee and other quick options are becoming more popular. The café culture is expanding fast, especially in cities like Shanghai, Beijing, and Guangzhou.
Convenience and health trends also play a big role in shaping what products people want. As more Chinese consumers look for wellness-focused choices, coffee brands are adapting their offerings to meet these demands. This evolution in consumer interests means companies like Breville need to keep a close eye on market trends to stay relevant. Third Wave Coffee elevates the coffee experience, resonating with the growing desire for quality among Chinese consumers.
On top of this, China’s coffee consumption is expected to rise. It’s predicted to increase from 5.8 million bags in 2023 to 6.3 million bags in the following year. This growth presents a golden opportunity for firms ready to invest in this booming sector. With rising incomes and changing lifestyles, demand for coffee is expected to keep climbing.
As Breville pushes into this market, it aims to connect with the changing preferences of millions of coffee enthusiasts across the nation.
