Việt Nam seeks to expand coffee market share in Canada
Việt Nam seeks to expand coffee market share in Canada
Vietnamese coffee has the opportunity to surpass Mexico to enter the top 10 largest coffee exporters to the Canadian market.
People walk pass a store of Cactus in Toronto where introduces Vietnamese tea and coffee. — VNA/VNS Photo |
The export value of Vietnamese coffee to Canada reached over US$4.4 million in the first quarter of 2024, up 12.2 per cent compared to the same period last year.
Việt Nam earned over $32 million from exporting coffee to Canada in 2023, the highest level in the 2013 – 2023 period, growing by 220 per cent compared to the time before the two countries joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Taking this opportunity, Cactus, a young Vietnamese enterprise investing in Canada, decided to set up a store in the bustling city of Toronto to introduce Vietnamese coffee, towards exploring and expanding the export market for Vietnamese coffee products.
Cactus set up shop in 2021 - the peak of the COVID-19 pandemic, facing many difficulties. Currently, its coffee store has grown significantly and gained a stable customer base.
Co-owner of Cactus Nguyễn Thị Kim Anh said she hopes that the brand will grow strong like a cactus, despite many challenges they may face in the country.
With the expansion of Vietnamese brands like Cactus, Vietnamese coffee has the opportunity to surpass Mexico to enter the top 10 largest coffee exporters to the Canadian market. Anh said with a sizable and stable number of customers, the brand is on a strong growth trajectory. Therefore, the firm plans to expand its business model through franchising.
Vietnamese Trade Counsellor in Canada Trần Thu Quỳnh said the office hopes to collaborate with Cactus to turn this establishment into a destination for introducing and promoting Vietnamese brands.
According to Quỳnh, besides developing coffee brands originating from Việt Nam, Cactus can boost franchising to build its chain of establishments across Canada. This is one of the ways to boost export value, thus bringing significant benefits to Việt Nam's exports in the coming time.
Việt Nam currently holds the most prestigious reputation for coffee among member countries of the Association of Southeast Asia Nations (ASEAN) in Canada, capturing approximately a 2 per cent market share.
The CPTPP has created significant tariff advantages, enabling Vietnamese coffee to potentially surpass competitive rivals from other ASEAN states, India, and even China.
