China Overtakes US as Branded Coffee Shop Capital of the World

China has become the country with the most branded coffee shops, with a 58% increase in branded coffee shops over the past 12 months. The number of branded coffee shops in China has surpassed the US, which had held the crown as the world’s biggest coffee shop market for 20 years. Local chains Luckin Coffee and Cotti Coffee have rapidly expanded, adding 5,059 and 6,004 stores respectively. Luckin, founded six years ago, has 13,273 stores in China, making it the largest operator. Starbucks, which opened its first shop in China in 1999, opened 785 stores in 2023, making its total there to 6,806. China is still the chain’s fastest-growing market, but Cotti Coffee, founded by two former Luckin executives in August 2022, is rapidly catching up with 6,061. Starbucks remains the largest branded coffee chain in east Asia, having opened 1,223 outlets in the past year to reach 13,524 stores in 15 markets. However, domestic operators such as South Korea’s Mega Coffee, Indonesia’s Tomoro Coffee, and Malaysia’s Zus Coffee are challenging Starbucks’s dominance and increasing their market share.

Read More @ The Guardian

Suggested Reading