Discussion keeps the world turning.
This is Round Table.
Hello everybody.
Welcome to Roundtable.
Coming to you from Beijing, I'm Heng.
Good to have you join us on today's show.
Brace yourselves, coffee lovers, as China's coffee industry is brewing up a storm of epic proportions.
What was once a niche market is now a full blown caffeine craze with coffee shops popping up like mushrooms after a rainstorm.
From artisanal roasters to international giants, everyone wants a piece of the action.
We take a look at the competition as fierce as a triple shot of espresso.
For today's program, I'm joined by Yu Shun in the studio and Steve Hatherley also in the studio.
First on today's show.
With a market worth hundreds of billions of yuan and an ever growing army of caffeine connoisseurs, China's coffee industry is hotter than a fresh, freshly pulled espresso shot.
From trendy cafes to innovative brews, the country is quickly becoming the center of a caffeinated revolution that's leaving the world wide eyed and buzzing with excitement.
Recently, World Coffee Portal pointed out that China has surpassed the United States as the world's largest branded coffee shop market by outlet count with nearly 50,000 branded coffee shops as of 2023, a 58% increase from year.
However, this rapid growth has also sparked concerns about profitability and positioning.
Homegrown brands are launching new strategies to capture market share while international players are increasingly localizing to penetrate the market.
So let's go to you Yu Shun.
What is the current lay of the coffee land in China?
First of all, I think we can see people nowadays are having more requirements, I would say on coffee, different types, different ways of drinking it.