LUCRATIVE MARKET
Coffee is a widely favoured beverage in Singapore, enjoyed by individuals of all ages, genders, and income brackets. From a S$1 (US$0.75) cup of kopi in a hawker centre to a mug of hand-ground precision brew in a boutique coffee house for tens of dollars, consumers in Singapore are spoilt for choice where it comes to out-of-home coffee consumption.
It’s therefore no surprise that Singapore residents consume about 2.6kg of coffee per capita a year.
Singapore’s coffee segment is estimated to bring in US$2 billion in revenue this year, according to data from Statista. By 2025, out-of-home consumption is expected to account for 93 per cent of spending in the coffee sector in Singapore.
Since the 2000s, marked as the third wave of coffee consumption, coffee has become more than just a mere caffeine boost. It has become a sensory experience, a symbol of taste, an artisanal approach, a bespoke lifestyle, defining our finer pursuits in life.
People are getting more particular about the types of beans used, roast levels and brewing methods that can bring out the special aroma and taste of their desire.
Lighter roasts and plant-based milk alternatives are gaining traction with the burgeoning health-conscious segment. Certified coffee has also seen higher demand in recent years due to the growing environmental and ethical awareness among consumers.
Moreover, cafes are not only competing on the quality of their coffee but also on their ability to provide a novel social or work environment for their customers. For example, Soul Coffee, thanks to its 3D immersive environment and horoscope readings last year, has become a must-clock-in destination for Instagrammers.
"cafe" - Google News
April 23, 2023 at 05:01AM
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Commentary: There's something brewing in Singapore's coffee scene - CNA
"cafe" - Google News
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