The demand for coffee machines in China is in a period of rapid growth, and there is still plenty of room for development in the future

The demand for coffee machines in China has entered a period of rapid growth. In recent years, with consumers' pursuit of quality life and the rise of coffee drinking culture, my country's coffee market has expanded rapidly. According to data from the United States Department of Agriculture, my country's coffee bean consumption has a compound growth rate of 10% from 2015 to 2021; another customs statistics show that in 2017 -In 2021, the import value of my country's coffee and coffee substitutes will expand to US$530 million at a compound growth rate of 19%. Benefiting from the booming drinking coffee market, the coffee machine industry is also ushering in a period of rapid growth. According to the "Alibaba 2021 "11th" Holiday Consumer Travel Trend Report", the sales of coffee machines on the Tmall platform in the last week before the long holiday increased by 50% year-on-year. %; According to data from the National Household Appliance Industry Information Center, my country's coffee machine market in 1Q-3Q21 exceeded 1.3 billion yuan, a year-on-year increase of 19.6%, and its performance was significantly ahead of other major kitchen appliances.

Euromonitor data shows that the sales volume of coffee machines in my country will be about 2.32 million in 2021, assuming that the life cycle of coffee machines is 3 to 5 years, based on the number of urban households in my country (urban market first, assuming that all coffee machine buyers are urban households) , it is estimated that the number of coffee machines in my country is less than 3 units/100 households, which is far lower than that of Japan (about 14 units/100 households in the center) and the US market (about 96 units/100 households in the center). Based on the diversified selection of new tea drinks in my country, the future number of coffee machines may not reach the level of Japan, but there is still sufficient room for future improvement under the current penetration rate. Euromonitor predicts that the sales volume and sales of coffee machines in my country will continue to expand at a compound growth rate of 9.0% and 10.2% from 2021 to 2026.

In recent years, with the improvement of my country's economic level and the opening of overseas education resources, the number of Chinese students studying abroad has increased year by year, and the corresponding number of returnees has also increased significantly. From 2011 to 2019, the compound growth rate of the number of returnees exceeded 15%, excellent The growth rate of the number of people studying abroad (compound growth rate of 10%). Overseas students have lived overseas for many years, and have been influenced by mature overseas coffee culture or have cultivated certain coffee drinking habits. In addition, in recent years, with the rise of new coffee forces such as Santon, Yongpu, and manner, the entry of well-known coffee brands such as Nongfu Spring, and the continuous expansion of offline cafes, it will further help consumers in the coffee market. Reach more consumers and further develop coffee drinking habits. Coffee is favored by consumers, especially young white-collar workers, for its refreshing function. Chinese consumers are gradually developing coffee drinking habits. According to Deloitte’s White Paper on my country’s Freshly Ground Coffee Industry, the per capita coffee intake of mainland Chinese consumers is The number of cups consumed is up to 9 cups, but there are significant differences between cities. Among them, the coffee penetration rate of consumers in first- and second-tier cities has reached 67%, and consumers who have formed the habit of drinking coffee consume more than 250 cups per year, which is comparable to that of Japan and the United States. And so mature coffee market is equal.