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…
Korea's coffee market is expanding as both premium and budget demand increase, according to government data released Tuesday. The Ministry of Agriculture, Food and Rural Affairs revealed that coffee consumption has grown from instant coffee mixes to encompass a wider range of roasted coffee beans and specialty drinks. Both premium specialty coffees and more affordable options are driving a "market polarization," the ministry reported.
The agriculture ministry cited figures from the Ministry of Food and Drug Safety, indicating that roasted coffee businesses in 2024 achieved the highest sales within the country's coffee industry, with over 1.3 trillion won ($917 million) in sales. This marked an impressive average annual growth of 15.8 percent since 2018. Ready-to-drink coffee and instant coffee followed, generating 1.1 trillion won and 404 billion won respectively in sales for the same year.
However, sales and exports of coffee mix products experienced a decline in 2018, signaling a shift in the domestic coffee industry landscape.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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