Oct 5, 2012

Illy expects growth in China

Thought provoking article states: "Though annual per capita consumption sits at less than five cups, coffee is becoming a daily addiction rather than an occasional splurge for a growing slice of the Chinese population. With coffee consumption in China rising at an estimated 30-40 percent annually, over the global average of 2-3 percent, major coffee chains like Starbucks — which currently has over 570 stores in 48 Chinese cities — aren’t the only ones bullish about the market. This week, Andrea Illy, chairman and CEO of Italian coffee group illycaffe, said his company expects rising demand to propel China into the top five coffee-consuming countries within a few years."

via Jing Daily