Caffeomania in South Korea

According to the consulting company GfK, the popularity of the drink has grown so much that not only international and local coffee shop franchises are growing like mushrooms all over the country, but also coffee machines for home use are selling out like hotcakes.

Market research showed that more than 300,000 units of these machines were sold in Korea in 2011, an increase of 38% over the previous year. The coffee machine market grew by at least $10 million during the year and is now at around $29,500,000. This rapid market growth (50 percent) in 2011 contributed to a sharp rise in small industrial business.
The most popular and affordable filter coffee maker by sales volume, had a dominant position in the market. Every fourth of the five (83%) coffee machines sold belonged to this segment. However, the share of more expensive espresso coffee machines, in monetary terms, is increasing rapidly. In 2011, this segment increased by 62 percent of the total turnover of the coffee machine market.
While the average price of filter coffee makers is $50 or less, the average cost of the most expensive fully automatic espresso machine is about $1,320, with popular models ranging in price from 380 $ to 2,580 $.

Based on foreign press for ForTrader.org