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.
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Denne historien er fra September 21, 2024-utgaven av BW Businessworld.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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