Coffee, Tea, Spices and Ready

Meals in China: ISIC 1549

Euromonitor International
July 2024

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport i

LIST OF CONTENTS AND TABLES

HEADLINES ................................................................................................................................. 1
INDUSTRY OVERVIEW ............................................................................................................... 1
Chart 1 Key Industry's Indicators 2018-2028 ............................................................ 1
PRODUCTION SCORECARD ..................................................................................................... 2
Summary 1 Scorecard of Production Pillar 2018-2028 .................................................... 3
Chart 2 Production Value Regional Comparison 2023 .............................................. 4
Chart 3 Production Value per Capita Regional Comparison 2023 ............................ 4
Chart 4 Production Value Growth Regional Comparison 2018-2028 ........................ 5
Chart 5 Future and Absolute Growth of Production Value Regional
Comparison 2023-2028................................................................................ 5
Chart 6 Production Value 2018-2028 ........................................................................ 6
Chart 7 Production Value by Category 2018-2023.................................................... 6
Chart 8 Production Value by Category 2023-2028.................................................... 7
Chart 9 Production Value per Employee 2018-2023 ................................................. 7
Chart 10 Exports 2018-2023 ....................................................................................... 8
Chart 11 Exports Regional Comparison 2023 ............................................................. 8
INDUSTRY’S GROWTH DRIVERS .............................................................................................. 9
Summary 2 Key Buyer Industries in China 2018-2028 .................................................... 9
Summary 3 Key Supplier Industries in China 2018-2028 ................................................ 9
Chart 12 External Demand Factors ........................................................................... 10
Chart 13 Top Industry’s Suppliers and Buyers .......................................................... 10
COST STRUCTURE .................................................................................................................. 10
Chart 14 Cost Structure Comparison 2023 ............................................................... 11
Chart 15 Cost Structure 2018-2023 .......................................................................... 11
Chart 16 B2B Costs and Growth 2023, USD million ................................................. 12
Chart 17 Prices of Selected Commodities and Other Economic Indicators 2023
Q3-2024 Q4, Index..................................................................................... 13
Chart 18 Profit and Profit Margin 2018-2023............................................................. 13
Chart 19 Average Salary 2018-2023......................................................................... 13
Chart 20 Labour Costs and Employee Productivity Comparison 2018-2023 ............ 14
FIRMOGRAPHICS ..................................................................................................................... 14
Chart 21 Number of Companies by Size 2018/2023 ................................................. 14
Chart 22 Competitive Landscape Structure by Company Size 2018/2023 ............... 15
Chart 23 Top Companies’ Ranking 2018-2023 and % of Production Value 2023 ..... 15
MARKET OVERVIEW ................................................................................................................ 16
CONSUMPTION SCORECARD ................................................................................................. 16
Summary 4 Scorecard of Consumption 2018-2023 ....................................................... 16
Chart 24 Market Size Regional Comparison 2023 .................................................... 17
Chart 25 Market Size per Capita Regional Comparison 2023................................... 17
Chart 26 Market Size Growth Regional Comparison 2018-2023 .............................. 17
Chart 27 Market Size Absolute and Average Historic Growth Regional
Comparison 2018-2023.............................................................................. 18
Chart 28 Market Structure by Buyer 2018-2023........................................................ 18
Chart 29 B2B Buyers and Growth 2023, USD million ............................................... 19
Chart 30 Market Structure 2018-2023....................................................................... 20

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport ii

Chart 31 Market Structure by Category 2018-2023 .................................................. 21

Chart 32 Imports 2018-2023 ..................................................................................... 21
Chart 33 Imports Regional Comparison 2023 ........................................................... 22
ATTRACTIVENESS INDEX ....................................................................................................... 22
Chart 34 Attractiveness Index in Selected Industries 2023 ....................................... 22
Chart 35 Coffee, Tea, Spices and Ready Meals Attractiveness Index
Comparison Across All Industries 2023 ..................................................... 23
Chart 36 Attractiveness Index Methodology ............................................................. 23
ECONOMIC CONTEXT AND LABOUR MARKET ..................................................................... 24
Summary 5 Economic Context and Labour Market 2023-2028 ..................................... 24

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 1

COFFEE, TEA, SPICES AND READY

MEALS IN CHINA: ISIC 1549
In 2023, China’s coffee, tea, spices and ready meals industry grew by 0.9% and was the
largest regionally in terms of production value. The industry’s turnover is forecast to increase at
a CAGR of 4% over 2023-2028. This industry report provides comprehensive data on
production, consumption, imports, exports, costs, profitability, and the competitive landscape.
Key indicators are benchmarked against other regional countries.

HEADLINES
▪ With production value of USD225 billion, China accounts for 56.9% of the Asia Pacific total in
2023
▪ The industry’s exports share decreases in 2023 to 2.2% of total production output
▪ The industry’s profitability decreases and stands at 8.8% of production value in 2023, the 19th
highest regionally
▪ The costs of the industry increase by 0.9% in 2023, largely driven by rising B2B costs
▪ The total number of companies remains unchanged in 2023
▪ The industry is fragmented, with the top three companies generating 32.4% of total production
value in 2023
▪ Cofco Corp is the largest company in China, generating 16.0% of the industry’s total
production value in 2023
▪ China has the largest market size for coffee, tea, spices and ready meals regionally, with
demand reaching USD276 billion in 2023
▪ Households drive market demand, with household spending representing 60.2% of total
demand in 2023
▪ The market is dominated by domestic suppliers, as imports account for 4.5% of total market
size in 2023

INDUSTRY OVERVIEW
Chart 1 Key Industry's Indicators 2018-2028

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 2

Source: Euromonitor International from official statistics, trade associations

Coffee, tea, spices and ready meals industry turnover in China ranks first in the Asia Pacific
region. The industry is forecast to rank first regionally in 2028. The industry’s growth accelerated
over 2023 to 0.9%. In terms of absolute industry turnover growth, China is projected to rank first
in the Asia Pacific region. This indicates stronger B2B demand potential from the coffee, tea,
spices and ready meals industry in China in comparison to other regional countries.
The coffee, tea, spices and ready meals industry is mainly dependent on demand growth in
the domestic markets, as exports accounted for 2.2% of total production output in 2023. China
ranks 14th in the Asia Pacific region in terms of exports share.
The industry’s profitability decreased and reached 8.8% in 2023. China ranks 19th in the Asia
Pacific region in terms of the coffee, tea, spices and ready meals industry’s profitability.

PRODUCTION SCORECARD
The Production Scorecard is a benchmarking tool to evaluate the industry’s performance
within the region. The scorecard considers indicators in seven key pillars that are at the core of
the industry’s competitiveness. The scorecard is built by ranking countries in the regional

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 3

context and helps to quickly identify country-specific opportunities. Unless otherwise noted, all
values expressed in this report are in US dollar terms, using y-o-y exchange rates. Data for
2024-2028 period are forecasts. All forecast data are expressed in current terms.
The coffee, tea, spices and ready meals industry in China ranked first in the Asia Pacific
region by production value in 2023. Higher production value levels indicate higher potential B2B
demand from the industry and stronger supply network which supports production.
The industry ranked 10th in the region in terms of historic production value growth, indicating
that the coffee, tea, spices and ready meals industry in China is mature. In terms of future
absolute turnover growth, the industry is predicted to rank above regional countries’ average,
indicating expanding B2B demand potential from the industry.
The coffee, tea, spices and ready meals industry in China ranked 19th in the region by
profitability in 2023. This indicates that other countries in the region have lower cost basis and
stronger competitive advantage against coffee, tea, spices and ready meals in China.
The industry ranked 14th in the Asia Pacific region in terms of exports share in 2023. The
industry ranked below regional countries’ average, indicating high reliance on the demand in the
domestic market.

Summary 1 Scorecard of Production Pillar 2018-2028

Indicator Regional Ranking (out of 19)

Production value, 2023 1

Historic production value growth, % CAGR 10

2018-2023

Future absolute production value growth, 1

2023-2028

Future production value growth, % CAGR 14

2023-2028

Profitability, 2023 19

Exports share of total production, 2023 14

Exports value growth, % CAGR 2018-2023 7

Source: Euromonitor International from official statistics, trade associations

The production value indicator helps to evaluate the industry’s size, supply chain network and
B2B demand. Higher production value levels indicate greater potential B2B demand from the
industry and a stronger supply network, which supports production.
Historic production value growth indicates the industry’s average annual production value
growth over the period 2018-2023. The historic growth rate indicates whether the industry is
mature or in the developing stage.
Future absolute production value growth indicates the industry’s absolute production value
growth in nominal terms over the period 2023-2028. High future absolute value growth indicates
expanding production output of the industry and increasing B2B demand potential from the
industry.
The future production value growth indicates the industry’s average annual production value
growth over the period 2023-2028. The indicator helps to evaluate the industry’s future growth
potential. A high average future growth rate indicates that the industry is in the development
stage, with untapped B2B demand potential from the industry.

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 4

Profitability indicates the industry’s profits relative to total production value in 2023. The
indicator helps to evaluate the industry’s financial stability, cost base and regional
competitiveness. High profitability indicates a strong financial position for the industry, lower
operating costs in the country and the industry’s competitive advantage over rival industry in
other countries.
Exports share of total production indicates the industry’s export value relative to total
production value in 2023. The indicator helps to evaluate the industry’s competitiveness in the
global market and the diversification of sales channels. A high exports share indicates that the
industry is competitive globally and has a diversified sales network.
Exports value growth indicates the industry’s average annual exports value growth over the
period 2018-2023. The indicator helps to evaluate the industry’s competitiveness in the global
market. High average growth in exports indicates that the industry remains competitive in the
global market and/or has gained greater market share in the global market.

Chart 2 Production Value Regional Comparison 2023

Source: Euromonitor International from official statistics, trade associations

Note: Production value shows total revenue (including export revenue) generated by all locally registered
companies, the core activities of which fall under the industry definition range. Measured at basic
prices/MSP. Also called turnover or turnover of local producers.

Chart 3 Production Value per Capita Regional Comparison 2023

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 5

Source: Euromonitor International from official statistics, trade associations

Chart 4 Production Value Growth Regional Comparison 2018-2028

Source: Euromonitor International from official statistics, trade associations

Chart 5 Future and Absolute Growth of Production Value Regional Comparison 2023-
2028

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 6

Source: Euromonitor International from official statistics, trade associations

Note: Top right quadrant of the chart indicates the best performing industries that will show above average
annual future growth and high absolute production value growth over the period 2023-2028. Bottom right
quadrant of the chart indicates mature industries that will show below average annual future growth but
high absolute production value growth over the period 2023-2028. Top left quadrant of the chart
indicates emerging industries that will show above average annual future growth but small absolute
production value growth over the period 2023-2028. Bottom left quadrant of the chart indicates
underperforming industries that will show below average annual future growth and small absolute
production value growth over the period 2023-2028.

Chart 6 Production Value 2018-2028

Turnover in 2023 – USD225 billion

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 7 Production Value by Category 2018-2023

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 7

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 8 Production Value by Category 2023-2028

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 9 Production Value per Employee 2018-2023

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 8

Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Production value per employee dynamics help to evaluate the productivity of the industry. Expanding
production value per employee indicates increasing productivity levels and higher future turnover growth
potential for the industry.

Chart 10 Exports 2018-2023

Export value in 2023 – USD6.0 billion

Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Exports show the value of goods exported to foreign countries, including all production and other costs
incurred up until the goods are placed on board the international carrier for export, but excluding
international insurance and further transportation costs.

Chart 11 Exports Regional Comparison 2023

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 9

Source: Euromonitor International from official statistics, trade associations, trade press, company research

INDUSTRY’S GROWTH DRIVERS

The coffee, tea, spices and ready meals industry in China depends on the demand from
restaurants and bars, coffee, tea, spices and ready meals and pasta and noodles. These buyers
generated 55.8% of the total demand in 2023, indicating that industry is highly reliant on the key
buyers. Coffee, tea, spices and ready meals is forecast to accelerate in growth over 2023-2028,
indicating stronger demand for the coffee, tea, spices and ready meals industry over the
forecast period. Restaurants and bars and pasta and noodles are forecast to show slower
growth over 2023-2028, indicating weaker demand for the coffee, tea, spices and ready meals
industry over the forecast period.
On the supply side, the key suppliers to the coffee, tea, spices and ready meals industry are
grain mill products, coffee, tea, spices and ready meals and vegetable and animal oils and fats.
The coffee, tea, spices and ready meals industry spent 24.0% of total costs in 2023 on these
suppliers.
External demand factors, such as economic growth, population growth, consumer income and
consumer habits, are affecting the coffee, tea, spices and ready meals industry in China.

Summary 2 Key Buyer Industries in China 2018-2028

Key Buyer Industries Turnover in 2023, Turnover Growth, % Forecast Growth, %
USD million CAGR 2018-2023 CAGR 2023-2028

Restaurants and Bars 965,114 6.0% 5.4%

Coffee, Tea, Spices 225,357 3.2% 4.0%

and Ready Meals

Pasta and Noodles 49,582 2.4% 1.4%

Meat and Meat 258,646 3.0% 2.4%

Products

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Summary 3 Key Supplier Industries in China 2018-2028

Key Supplier Turnover in 2023, Turnover Growth, % Forecast Growth, %
Industries USD million CAGR 2018-2023 CAGR 2023-2028

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 10

Grain Mill Products 250,037 2.6% 1.9%

Coffee, Tea, Spices 225,357 3.2% 4.0%

and Ready Meals

Vegetable and 183,453 3.1% 1.2%

Animal Oils and Fats

Fishing 270,912 5.5% 5.4%

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 12 External Demand Factors

Source: Euromonitor International

Chart 13 Top Industry’s Suppliers and Buyers

Source: Euromonitor International

COST STRUCTURE
Industry costs increased by 0.9% in 2023. The change was largely impacted by B2B costs,
which represented 93.3% of total industry expenditure. In addition, average salary in coffee, tea,
spices and ready meals declined by 2.2% over 2023. Meanwhile, turnover per employee
decreased by 2.2% over the year.
In 2023, the coffee, tea, spices and ready meals industry had lower labour costs in
comparison to the manufacturing sector average in China. On the other hand, B2B costs were
higher than the manufacturing sector average.

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 11

Chart 14 Cost Structure Comparison 2023

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 15 Cost Structure 2018-2023

Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Total costs equal production value less profits.
B2B costs show the total value of the goods and services consumed as inputs for a process
of production of goods and/or provision of services. The goods and services may be either
transformed or used up by the production process. Intra-industry trade, which is also included
(the industry itself is among its major buyers), refers to the exchange of products within the
same industry definition range.
Labour costs are defined as the total remuneration, in cash or in kind, payable by an
enterprise to an employee in return for work done. No labour costs are payable in respect of
unpaid work undertaken voluntarily, including the work done by members of a household within
an unincorporated enterprise owned by the same household.

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 12

Taxes less subsidies refer to taxes less subsidies on production and includes production
taxes paid by the industry or subsidies received by the industry. Excluded are specific taxes on
products such as VAT, petrol tax, tobacco tax and alcohol tax.

Chart 16 B2B Costs and Growth 2023, USD million

Source: Euromonitor International from official statistics, trade associations, trade press, company research

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 13

Chart 17 Prices of Selected Commodities and Other Economic Indicators 2023 Q3-2024
Q4, Index

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 18 Profit and Profit Margin 2018-2023

Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Profits are calculated as the difference between production and total costs (B2B costs, labour costs,
taxes less subsidies). The profit margin is calculated as profits divided by production value, and is
measured as a percentage. Profit and profit margin dynamics help to evaluate the financial stability and
competitiveness of the industry. Stable profitability of the industry indicates that the industry is capable of
maintaining its financial stability and competitiveness, indicating a stable future outlook in terms of B2B
demand potential.

Chart 19 Average Salary 2018-2023

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 14

Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Average salary shows labour costs divided by number of employees.

Chart 20 Labour Costs and Employee Productivity Comparison 2018-2023

Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Average salary and turnover per employee dynamics help to evaluate the industry’s competitiveness.
Faster growth in turnover per employee in comparison to average salary growth indicates that the
industry is capable of maintaining its competitiveness and can compensate for cost increases through
increased production output.

FIRMOGRAPHICS
The total number of companies operating in the industry remained unchanged in 2023. The
industry can be considered fragmented, as the three largest companies accounted for 32.4% of
production value in 2023. The industry’s concentration increased over the year. Cofco Corp
remained the leading company in China’s coffee, tea, spices and ready meals industry and
accounted for 16.0% of production value in 2023.

Chart 21 Number of Companies by Size 2018/2023

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 15

Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Number of companies shows the number of locally registered enterprises (regardless of capital origin),
the core activities of which fall under the industry definition range. An enterprise is an institutional unit in
its capacity as a producer of goods and services; an enterprise may be a corporation, a quasi-
corporation, a non-profit institution, or an unincorporated enterprise. Also includes zero employee firms
(sole traders) and the self-employed. Also called number of enterprises.

Chart 22 Competitive Landscape Structure by Company Size 2018/2023

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 23 Top Companies’ Ranking 2018-2023 and % of Production Value 2023

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 16

Source: Euromonitor International from official statistics, trade associations, trade press, company research

MARKET OVERVIEW
The coffee, tea, spices and ready meals market in China ranks first in the Asia Pacific region.
In terms of absolute market size growth, China ranks first regionally. Demand for coffee, tea,
spices and ready meals is largely driven by household demand, which generated 60.2% of total
demand in 2023. Over the year, household demand for coffee, tea, spices and ready meals
increased by 2.3%.
The coffee, tea, spices and ready meals market in China is dominated by domestic
companies, as imports represented 4.5% of the total market size in 2023. The share of domestic
companies increased from 4.4% in 2018.

CONSUMPTION SCORECARD
The Consumption Scorecard is a benchmarking tool to evaluate the market’s performance
within the region. The scorecard considers indicators in five key pillars that are at the core of the
market’s competitiveness. The scorecard is built by ranking countries in the regional context and
helps to quickly identify country-specific opportunities.

Summary 4 Scorecard of Consumption 2018-2023

Indicator Regional Ranking (out of 19)

Market size, 2023 1

Market size absolute value growth, 2018-2023 1

Market size historic growth rate, % CAGR 9

2018-2023

Imports share in total market, 2023 15

Imports value growth, % CAGR 2018-2023 9

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Market size value indicates the total demand potential for specific goods or services. Higher
market size indicates higher demand potential from households, B2B and government buyers
within the country.
Market size absolute value growth indicates absolute demand potential growth in nominal
terms over the period 2018-2023. High absolute demand growth indicates expanding domestic
demand for specific goods or services.

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 17

Market size historic growth rate indicates the market’s average annual value growth over the
period 2018-2023. A high average market growth rate indicates that the market is in
development stage with untapped future demand potential for specific goods or services.
Imports share in total market indicates import value relative to total market size in 2023. The
indicator helps to evaluate demand and sales potential of foreign goods. A high import share
indicates high demand potential and sales potential for foreign goods in the country.
Imports value growth indicates average annual imports value growth over the period 2018-
2023. The indicator helps to evaluate demand and sales potential of foreign goods. High
average growth of imports indicates that the market remains open to foreign goods, and total
sales potential is expanding.

Chart 24 Market Size Regional Comparison 2023

Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Market size shows the total value of industry-specific goods and/or services, whether produced
domestically or imported, that are sold in a country’s market. Measured at purchaser price/RSP.

Chart 25 Market Size per Capita Regional Comparison 2023

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 26 Market Size Growth Regional Comparison 2018-2023

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 18

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 27 Market Size Absolute and Average Historic Growth Regional Comparison 2018-
2023

Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Top right quadrant of the chart indicates the best performing markets with above average annual market
growth rate and high absolute market value growth over the period 2018-2023. Bottom right quadrant of
the chart indicates mature markets with below average annual market growth rate but high absolute
market value growth over the period 2018-2023. Top left quadrant of the chart indicates emerging
markets with above average annual market growth rate but small absolute market value growth over the
period 2018-2023. Bottom left quadrant of the chart indicates underperforming markets with below
average annual market growth rate and small absolute market value growth over the period 2018-2023.

Chart 28 Market Structure by Buyer 2018-2023

Market value in 2023 – USD276 billion

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 19

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 29 B2B Buyers and Growth 2023, USD million

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 20

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 30 Market Structure 2018-2023

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 21

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 31 Market Structure by Category 2018-2023

Source: Euromonitor International from official statistics, trade associations, trade press, company research

Chart 32 Imports 2018-2023

Import value in 2023 – USD10.7 billion

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 22

Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Imports show value of goods delivered at the frontier of the importing country, including any freight,
insurance and other costs incurred during transportation of goods from the port of origin, but before the
payment of any import duties or other taxes within the country. Includes re-exports.

Chart 33 Imports Regional Comparison 2023

Source: Euromonitor International from official statistics, trade associations, trade press, company research

ATTRACTIVENESS INDEX
Chart 34 Attractiveness Index in Selected Industries 2023

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 23

Source: Euromonitor International

Note: Attractiveness index (AI) is a derivative variable, which gives a quick understanding of how the selected
industry performs in comparison with other industries in an economy. AI is based on a set of variables.
For each variable, all industries in the economy are ranked and get a corresponding rate from 1 at the
very bottom to 177 at the very top. When all ranks are available, a weighted average is calculated and
the corresponding percentile is assigned. The higher the AI, the better industry performance is.

Chart 35 Coffee, Tea, Spices and Ready Meals Attractiveness Index Comparison Across
All Industries 2023

Source: Euromonitor International

Note: The calculated index of attractiveness evaluates industry performance in particular economy for exact
year. Each measure of industry’s performance is compared across all industries in the country and is
assigned to a corresponding rank based on industry’s performance: the better the performance
is, the higher rank the industry reaches (the rank grades the scale of each parameter into 177 ranks;
industries are assigned to one of the 177 ranks according to criterion). The ranks are then weighted by
their importance and the final score is calculated as the weighted average. According to the final result
industry is being assigned to a particular percentile.

Chart 36 Attractiveness Index Methodology

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 24

Source: Euromonitor International

ECONOMIC CONTEXT AND LABOUR MARKET

Summary 5 Economic Context and Labour Market 2023-2028
Economic Context

Per Capita Consumer Income 2023, USD 8,750

Per Capita Consumer Income Growth 2023- 6.3%

2028, % CAGR

Inflation Rate 2023/2028 0.2%/2.0%

Real GDP Growth 2023-2028 4.3%

Labour Market

Economically Active Population 2023, ‘000 770,992

Employment Rate 2023 70.3%

Wage per Hour 2023, USD 7.1

Wage per Hour in Manufacturing 2023, USD 5.8

Average Salary 2023, USD per annum 10,496

Commodities Market

Coffee price in 2024, US cents per pound 209

Coffee price Change in 2024, % 1.6%

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.
 COFFEE, TEA, SPICES AND READY MEALS IN CHINA: ISIC 1549 Passport 25

Tea Price in 2024, US cents per kg 216

Tea Price Change in 2024, % -3.3%

Food Index in 2024, 2010 = 100 106

Food Index Change in 2024, % -15.2%

Source: Euromonitor International from official statistics, trade associations, trade press, company research

© Euromonitor International

Powered by TCPDF (www.tcpdf.org)

Downloaded by us-eyintranet from 165.225.116.77 at 2025-01-02 06:48:22 UTC. EMIS. Unauthorized Distribution Prohibited.