Canada's coffee brand Tim Hortons forays into India

Vijay C Roy

Chandigarh, October 25

The competition in the $2-billion Indian coffee market is likely to intensify further, as besides the established coffee chains expanding their footprint, the market is witnessing new entrants.

To expand in Punjab

Advertisement

We aim to launch 15 outlets in Punjab, including five by the end of this fiscal, as part of our plan to open hundreds of restaurants in India in the next 10 years. — Navin Gurnaney, CEO, Tim hortons’ franchise

After Cafe Coffee Day, Barista, Costa Coffee, Starbucks, Blue Tokai and Third Wave Coffee, the latest to join the bandwagon is Canada-based Tim Hortons, which has expanded its presence in Delhi and Chandigarh. Out of total coffee market, out-of-home consumption is around 20-25% and there is an ample opportunity for the organised players.

According to experts, the coffee chain market in India is growing at a compounded annual growth rate (CAGR) of around 9%. Further, in the next two years, the market is likely to touch $4.2 billion.

According to major coffee chains, there has been an unprecedented increase in the number of coffee lovers with the increase in disposable income. Other factors responsible for the growth in the number of coffee lovers are global exposure, urbanisation and lifestyle changes.

Bengaluru-based Third Wave Coffee, founded in 2016 by three coffee enthusiasts, recently expanded in North, including Delhi and Chandigarh, besides other locations. Similarly, founded in 2013, Delhi-based Blue Tokai Coffee also expanded its presence in Chandigarh and other locations.

According to the coffee makers, the fast-growing coffee culture has prompted many players to expand their presence. In order to cash in on the growing demand, Canada-based Tim Hortons is the latest brand to expand its footprint.

“Starting with Chandigarh, the hub of the northern region, we will soon open outlets in Punjab. We aim to launch 15 outlets in the state, including five by the end of this financial year, as part of our plan to open hundreds of restaurants in India in the next 10 years,” said Navin Gurnaney, CEO, Tim Hortons franchise in India.