Starbucks taps into Asia Pacific instant coffee market with VIA Ready Brew

Starbucks announced on 7 September the expansion of Starbucks VIA Ready Brew into Singapore, one of its first six additional Asia Pacific markets that will carry the company's instant coffee brand. By the end of September, Starbucks stores in South Korea, Indonesia, Malaysia, Singapore, Thailand and Australia will carry Starbucks VIA Ready Brew, bringing its availability to all Starbucks locations in Asia.  According to Euromonitors 2010, the instant coffee market size across Asia Pacific’s markets in which Starbucks operates is approximately US$4billion. This significant business growth opportunity for Starbucks in the region, coupled with the strong appeal and repeat rate of the product in the U.S., U.K., China, Philippines and Japan, reinforces the company’s view that Starbucks VIA will become another US$1 billion Starbucks brand over time. Since its launch in September 2009, Starbucks VIA has surpassed the US$200 million mark in global sales (as of March 2011). “Starbucks VIA Ready Brew is a revolutionary instant coffee that helps extend the relevance of the Starbucks brand beyond our stores, and expand our customer-base across Asia-Pacific,” says Jinlong Wang, president, Starbucks Asia Pacific. “We see immense opportunity for Starbucks VIA in Asia, especially with the popularity and significant size of the region’s instant coffee category. We are confident that Starbucks VIA will create new market demands for premium single-serve coffee to enjoy at home or on-the-go and become a new growth engine for Starbucks in the region.” Portioned into single-serve packets, Starbucks VIA Ready Brew is sold in packs of three or 12 and is available in two flavors – Colombia and Italian Roast. The suggested retail price for Singapore will be S$3.90 for three and S$13.90 for 12.