IN A NATION where the aroma of ‘chai’ (tea) has long been intertwined with its identity, coffee is a new contender making waves. Once considered a niche indulgence, coffee is rapidly becoming the drink of choice for the growing group of urban millennials and Gen Z trendsetters. From the bustling metros to the emerging Tier-2 and Tier-3 cities, cafes are rapidly increasing, artisanal roasters are flourishing and a newfound appreciation for the coffee bean is emerging.
A Market Set To Soar
The statistics paint a compelling picture of this caffeinated awakening. India’s coffee market is projected to soar to a staggering $1.23 billion (Rs 10,000 crore) by 2032, growing at a CAGR of 9.87 per cent between 2024 and 2032, according to Custom Market Insights report.
The big shift in India’s beverage industry is being fuelled by a confluence of factors, from evolving consumer preferences and the rise of cafe culture to the entry of global players and the growing appeal of artisanal, specialty brews. As Sushant Dash, CEO of TATA Starbucks, observes, “India’s coffee culture has seen significant growth in the past decade, attributed to younger consumers embracing the cafe culture and increased exposure to global coffee varieties through travel and digital mediums.”
From Instant to Artisanal
While instant coffee has long been the convenient choice for the Indian masses, a new breed of coffee connoisseurs is seeking out freshly brewed blends and savouring the nuanced flavours and aromas that artisanal roasters bring to the table, seeking authenticity and quality.
Esta historia es de la edición September 21, 2024 de BW Businessworld.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición September 21, 2024 de BW Businessworld.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Gauging Trumponomics For India
Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders