Korea's coffee market diversifies as premium, budget demand grows
Diversifying demand for coffee drinks has broadened the consumer market in Korea and increased the country’s exports, according to the government, Tuesday. The Ministry of Agriculture, Food and Rural Affairs said the country’s coffee consumption has expanded from instant coffee mixes to a wider variety of roasted coffee beans and specialty drinks made with them. Demand for budget coffee has also…
The growing demand for diverse coffee drinks has expanded Korea's consumer market and boosted the country's coffee exports, according to the government. The Ministry of Agriculture, Food and Rural Affairs reported that coffee consumption in the nation has shifted from instant coffee mixes to include a greater variety of roasted coffee beans and specialty drinks prepared with them.
The ministry highlighted a "market polarization" between high-end specialty coffees and more budget-friendly options, driven by a surge in demand for affordable coffee.
Roasted coffee businesses led the way in 2024, accounting for the highest sales in the entire Korean coffee industry, with sales surpassing 1.3 trillion won ($917 million). This figure represented an average annual growth rate of 15.8 percent since 2018. Ready-to-drink coffee and instant coffee followed closely behind, generating 1.1 trillion won and 404 billion won, respectively, in sales.
However, sales and exports of coffee mix products began to decline in 2018, indicating that the domestic coffee industry is evolving to cater to a wider range of consumer preferences.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
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