Research firm Mintel’s recent research reveals that Japan and Indonesia are among the world’s largest coffee retail markets by volume. According to Mintel, Japan with 304,000 tonnes and Indonesia with 268,000 tonnes are ranked within the top five global coffee retail markets, with the US leading the way as the largest (607,000 tonnes), followed by Brazil (425,000 tonnes) and Germany (424,000 tonnes).
Asia has increasingly been looked upon as a promising region for the global coffee market over the past few years, says Mintel.
In addition, Asia’s emerging markets will play a big role in the future of the global coffee sector as the firm’s research shows that Indonesia, Vietnam and the Philippines are estimated to be among the top five fastest-growing coffee retail markets by volume between 2017 and 2021. “Asia has great growth potential when it comes to coffee, with consumption continuing to rise across the region,” says Jonny Forsyth, associate director, Mintel Food & Drink.
“Coffee culture has surged in Asia with more and more specialty coffee houses setting up shop in countries such as Japan, Singapore and Indonesia. Big brand coffee chains are also increasing their expansion efforts in the region. Additionally, Asia’s emerging markets have led global coffee growth in years past and will continue, with Indonesia leading this charge.”
Indonesia is expected to grow at a compound annual growth rate (CAGR) of 11.4%, Vietnam at a rate of 9.2% and the Philippines by 6.7%. The remaining two fastest-growing markets include Turkey (6.8%) and Mexico (6.1%).