THE INTELLIGENCE
COFFEE SHOPS IN ASIA PACIFIC BURSTING WITH INTERNATIONAL FLAVORS Coffee and tea shops in Asia Pacific have boomed as several global coffee chains in the region are expanding rapidly, particularly in Southeast Asia; accounting for $4.4bn and set to grow further by an 8% cagr between 2023 and 2028. In Singapore, China’s Luckin Coffee has expanded by more than 20 outlets in less than a year. Other new names on the scene include South Korea’s Compose Coffee and Canada’s Tim Hortons. Indonesian operator Kopi Kenangan made its debut in Malaysia and Singapore over the last two years with 50 outlets, offering complimentary vouchers and local espresso options. “Thanks to the region’s
environment full of unique flavors, local consumers in the region are sophisticated, open to trying
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new flavors and are willing to spend well for their daily caffeine fix,” said Nathanael Lim, beverage insight manager in Asia at
FREIXENET FURLOUGHS 80% OF STAFF DUE TO DROUGHT IN CATALONIA The effects of climate change are having a direct impact on the producers of Cava, the Spanish sparkling wine, in the country’s north-east. Months of drought have resulted in reduced production causing one of the most famous brands, Freixenet, to temporarily lay off over 600 staff members Cava companies have had production challenges brought on by climate changes for some time now, with the drought going back to 2021. In recent years wine growers have begun looking for potential solutions to mitigate the climate problems, with some learning from growers in the south of Spain where temperatures are already high while others have bought land further north. Freixenet insists the decision to lay off staff is a temporary measure.
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Euromonitor International. “With similar pricing strategy, flavor offerings and store formats, it remains to be seen whether they
can all thrive in the long term. In fact, the inevitable exit of some chains will be seen especially in a small market like Singapore.”
GLOBAL ONLINE FOOD DELIVERY MARKET CONTINUES EXPLOSIVE GROWTH
A market report by global industry analyst Astute Analytica projects the global online food delivery and take-out market to reach $442bn by 2032, up from $164.9bn in 2023. The growth has
been accelerated by the global Covid-19 pandemic, with consumers turning to contactless delivery for safety and dining rooms forced to close to the public for extended periods According to Astute Analytica, China stands out as a powerhouse,
led by Meituan Dianping while the US market, with DoorDash and Uber Eats, features intense competition and continuous innovation. India, with Zomato and Swiggy, reflects a unique blend of rapid urbanization and technology adoption fueling its food tech sector. Millennials and Gen Z are the primary drivers of this market, drawn to the convenience and tech-centric nature of these services.
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