Coffee Getting More Popular in Russia Creating $2 Billion MarketClaudia Carpenter
Russia, traditionally a tea-drinking nation, is turning to coffee with the market in Moscow alone worth about $2 billion, according to U.S. government estimates.
The top coffee chains in the country expanded their number of outlets by as much as 17 percent in the 12 months to July, the U.S. Department of Agriculture’s attache in Moscow estimates. One shop even has its own roasting plant, it said.
Global coffee demand will grow 3.6 percent over the next year, with expansions in China to Indonesia and the U.S., USDA data show. Prices of arabica coffee preferred by Starbucks Corp., the biggest U.S. coffee chain, jumped 54 percent this year.
Russian coffee chains had sales of 34 billion rubles ($620 million) in 2013, with the number of outlets rising 17 percent, the USDA’s Moscow attache said in a Dec. 22 report.