咖啡渗透率达67%，国内市场规模1200亿 China coffee market size is 120 billion

Coffee Time（咖啡时间）俨然成了小资生活的代名词，也在资本市场中也掀起了一阵投资风潮。

Coffee Time has become synonymous with petty bourgeoisie life, and it has also set off a wave of investment in the capital market.

根据财新网的分析统计，中国咖啡消费规模逐年扩大，近年来同比增速在30%左右，2022年市场规模有望突破1200亿元。

According to the analysis and statistics of Caixin.com, the scale of coffee consumption in China has been expanding year by year, with a year-on-year growth rate of about 30% in recent years. The market size is expected to exceed 120 billion yuan in 2022.

德勤《中国现磨咖啡行业白皮书》显示，2021年中国人均咖啡饮用量为9杯/年，美日韩等咖啡消费较成熟的市场中，人均咖啡消费每年300杯左右。

According to Deloitte's "White Paper on China's Freshly Ground Coffee Industry", the per capita coffee consumption in China will be 9 cups per year in 2021. In markets with more mature Coffee consumption such as the United States, Japan and South Korea, the per capita coffee consumption is about 300 cups per year.

值得注意的是，在中国一线二线城市中，咖啡渗透率已达到67%。已养成咖啡饮用习惯的一线城市消费者，年均咖啡消费水平接近成熟市场，为326杯/年；在德勤调研的12个新一线城市和8个二线城市中，有咖啡饮用习惯的消费者一年摄入咖啡261杯，接近日本的咖啡消费水平。

It is worth noting that in China's first- and second-tier cities, the coffee penetration rate has reached 67%. Consumers in first-tier cities who have developed a coffee drinking habit have an average annual coffee consumption level close to that of mature markets, at 326 cups per year; among the 12 new first-tier cities and 8 second-tier cities surveyed by Deloitte, consumers with coffee drinking habit 261 cups of coffee are consumed a year, which is close to the level of coffee consumption in Japan.

目前中国咖啡消费者以一二线青年、中年居多，以提神为主要需求，呈现出对咖啡消费的较高粘性。此外，通常咖啡饮用年限越长的消费者，年均饮用杯数也越多。

At present, Chinese coffee consumers are mostly young and middle-aged in the first and second tiers, and their main demand is to refresh, showing a high stickiness to coffee consumption. In addition, consumers who drink coffee for a longer period of time generally drink more cups per year.

速溶咖啡市场仍占半壁江山 Instant coffee has 50% market share

国际上，咖啡产区主要分布在拉丁美洲、非洲和越南、印尼等东南亚国家；深加工和成品销售主要集中在美国、日本及欧洲发达国家。

Internationally, coffee producing areas are mainly distributed in Latin America, Africa and Southeast Asian countries such as Vietnam and Indonesia; deep processing and finished product sales are mainly concentrated in the United States, Japan and developed European countries.

位于咖啡供给链中游的烘焙厂、品牌厂商等企业，通过不同深加工工艺，可生产出适于不同饮用方式的咖啡成品，主要是三种类型即速溶咖啡、现磨咖啡和即饮咖啡。

Enterprises such as roasters and brand manufacturers located in the middle reaches of the coffee supply chain can produce finished coffee products suitable for different drinking methods through different deep processing techniques. There are mainly three types of instant coffee, freshly ground coffee and ready-to-drink coffee.

头豹研究所《2021年中国现磨咖啡行业》报告显示，2020年中国咖啡市场中，速溶咖啡市场占比为52.4%，现磨咖啡次之，即饮咖啡占一成。

According to the "2021 China Freshly Ground Coffee Industry" report by the Toubao Research Institute, in the Chinese coffee market in 2020, the instant coffee market will account for 52.4%, followed by freshly ground coffee, and ready-to-drink coffee will account for 10%.

速溶咖啡的“主角光环”可以追溯到20世纪30年代。1938年，雀巢首推速溶咖啡，注重提神醒脑的功能性表达。凭借商品化后的速溶咖啡，雀巢迅速成为咖啡行业的头部品牌。

The "protagonist halo" of instant coffee dates back to the 1930s. In 1938, Nestlé first launched instant coffee, focusing on refreshing functional expression. With the commercialized instant coffee, Nestle quickly became the top brand in the coffee industry.

进入中国市场后，雀巢延续高市场集中率，2018年速溶咖啡消费比例占咖啡市场71.8%，雀巢占速溶市场消费近三成。

After entering the Chinese market, Nestlé continued to maintain a high market concentration rate. In 2018, the proportion of instant coffee consumption accounted for 71.8% of the coffee market, and Nestlé accounted for nearly 30% of the instant coffee market consumption.

近年来，国产速溶咖啡品牌市场接受度逐渐提高。2015年成立于长沙的咖啡品牌三顿半连续三年在“双十一”“6·18”等电商大促期间位居天猫茶冲饮类目销量第一。

In recent years, the market acceptance of domestic instant coffee brands has gradually increased. The coffee brand Sandun, founded in Changsha in 2015, ranked first in Tmall's tea brewing category for three consecutive years during the "Double Eleven" and "6.18" e-commerce promotions.

现磨咖啡市场增速快于总体市场增速 The ground coffee market is growing faster than the overall market

2018年咖啡整体市场向好之际，现磨咖啡市场增速为37.3%，较整体咖啡市场高出6.2个百分点。2019年，中国咖啡市场规模增长放缓，现磨咖啡增速仍高于整体市场，但高出的点位同比下降4个百分点。

When the overall coffee market was improving in 2018, the growth rate of the freshly ground coffee market was 37.3%, which was 6.2 percentage points higher than the overall coffee market. In 2019, the growth of China's coffee market has slowed down. The growth rate of freshly ground coffee is still higher than the overall market, but the higher point is down 4 percentage points year-on-year.

按冲饮形式分类，现磨咖啡主要有三种：咖啡豆咖啡、胶囊咖啡及挂耳咖啡。

According to the form of brewing, there are three main types of freshly ground coffee: coffee bean coffee, capsule coffee and hanging ear coffee.

据德勤统计，截至2020年底，中国地区共有10.8万家现磨咖啡馆，其中75%位于一线、新一线及二线城市。全国门店数超100家的大型连锁品牌咖啡馆仅占13%，其余几乎为独立咖啡馆。

According to Deloitte statistics, by the end of 2020, there were a total of 108,000 coffee shops in China, 75% of which were located in first-tier, new first-tier and second-tier cities. Large chain brand cafes with more than 100 stores nationwide account for only 13%, and the rest are almost independent cafes.

统计还显示，大型和中小型连锁咖啡馆主要布局在二线及以上城市，三线及以下城市中独立咖啡馆占市场绝对比重。

Statistics also show that large and medium-sized chain cafes are mainly located in second-tier and above cities, and independent cafes account for an absolute proportion of the market in third-tier and below cities.

2021年再现咖啡“投资热” The coffee "investment fever" will be reproduced in 2021

2021年12月，连锁咖啡新秀品牌NOWWA挪瓦咖啡宣布连续完成B轮和B+轮融资，两轮资金累计2亿元。至此，这家创立于2019年的新品牌，已于当年完成了三轮融资。

In December 2021, NOWWA Coffee, a rookie coffee chain brand, announced that it has successively completed the B rounds and B+ rounds of financing, with a total of 200 million yuan in the two rounds. So far, this new brand founded in 2019 has completed three rounds of financing that year.

2021年咖啡融资黑马不止NOWWA。主打精品咖啡的鹰集收获了来自柠萌影业、益源资本和哔哩哔哩的三轮投资，而淡马锡、美团龙珠、字节跳动则选择了主打高性价比特色的Manner咖啡，累计投资过亿。

The dark horse of coffee financing in 2021 is not only NOWWA. Yingji, which specializes in specialty coffee, has received three rounds of investment from Ningmeng Films, Yiyuan Capital and Bilibili, while Temasek, Meituan Longzhu, and ByteDance have chosen Manner Coffee and have invested more than 100 million yuan.

咖啡生产制造商三顿半、连锁精品咖啡品牌Seesaw同样获得了亿元融资。

Coffee manufacturer Sandun and a half and Seesaw, a chain of specialty coffee brands, also received 100 million yuan in financing.

2021年又是“咖啡风口”的一年。据产业咨询机构前瞻产业研究院报告，2021年，国内咖啡市场已完成18起融资，累计金额近57亿元，超2019年和2020年咖啡投资总额的2倍。

2021 is another year of "coffee outlet". According to the report of the Qianzhan Industry Research Institute, an industry consulting agency, in 2021, the domestic coffee market has completed 18 financings, with a cumulative amount of nearly 5.7 billion yuan, more than twice the total coffee investment in 2019 and 2020.

融资企业的主营产品集中在连锁咖啡店、精品咖啡、外卖咖啡、即饮咖啡、咖啡机及咖啡馆运营服务商等领域。

The main products of the financing companies are concentrated in the fields of chain coffee shops, specialty coffee, takeaway coffee, ready-to-drink coffee, coffee machines and cafe operators.

“快咖啡”和“慢咖啡” "Fast Coffee" and "Slow Coffee"

现磨咖啡市场曾经一度注重打造“第三空间”的社交属性，如今则逐渐向高性价比的“快咖啡”场景和重视口味及身心体验的“慢咖啡”场景两极分化。

The freshly ground coffee market once focused on creating a “third space” for social attributes, but now it is gradually polarizing into a cost-effective “fast coffee” scene and a “slow coffee” scene that emphasizes taste and physical and mental experience.

咖啡馆从一开始就带有社交属性，优质咖啡与咖啡社交生活方式结合的售卖模式，推动星巴克不断扩张。2018年中国现磨咖啡市场中，星巴克以59.2%的市场占有率居首。

Cafes have social attributes from the very beginning, and the sales model that combines high-quality coffee with coffee social lifestyle has driven Starbucks to continue to expand. In China's freshly ground coffee market in 2018, Starbucks ranked first with a market share of 59.2%.

以瑞幸为代表的品牌推出高性价比咖啡，采用“即买即走”或配搭外卖配送的小门店销售模式。这类“快咖啡”场景主打便利性，通过削弱门店环境体验、社交需求等附加值投入，压缩单店投资成本，同时缩短投资回报周期、降低咖啡单价。

Brands represented by Ruixing have launched cost-effective coffee, adopting a small store sales model of "buy and go" or with takeaway delivery. This type of "quick coffee" scenario focuses on convenience. By reducing added value inputs such as store environmental experience and social needs, it reduces the investment cost of a single store, while shortening the return on investment cycle and reducing the unit price of coffee.

据德勤报告，“快咖啡”门店通常偏好办公楼和地铁站周边等人流较充足的地点，满足上班族提神醒脑的需求。而新冠疫情的影响，或在短期内推动“快咖啡”品牌落地。在疫情结束后倾向通过自提、外卖形式购买咖啡的调查对象分别占调查总人数的65.6%、19.9%。

According to a report by Deloitte, "Quick Coffee" stores usually prefer locations with sufficient traffic, such as office buildings and subway stations, to meet the needs of office workers to refresh their minds. The impact of the new crown epidemic may promote the implementation of the "Quick Coffee" brand in the short term. After the epidemic, the respondents who tended to buy coffee through self-pickup and takeaway accounted for 65.6% and 19.9% of the total survey respondents, respectively.

“咖啡”的身影在中国出现已百年有余，但消费习惯培养不过20余年。近年中国咖啡消费规模在扩大，2021年市场规模已达1130亿元。021年又是“咖啡风口”的一年，2021年国内咖啡市场已完成18起融资，累计金额近57亿元，是过去2年投资总和的近2倍。

"Coffee" has appeared in China for more than a hundred years, but consumption habits have only been cultivated for more than 20 years. In recent years, the scale of coffee consumption in China has been expanding, and the market size will reach 113 billion yuan in 2021. 021 is another year of "coffee outlet". In 2021, the domestic coffee market has completed 18 financings, with a cumulative amount of nearly 5.7 billion yuan, nearly twice the total investment in the past two years.

中国咖啡时代加速到来？我们今天结合多个研究机构的数据，分析了中国咖啡消费市场的现状。

China's coffee era is accelerating? Today, we combined data from multiple research institutions to analyze the current situation of China's coffee consumption market.