Starbucks (SBUX) continues to increase its investment in locally-sourced coffee beans in China...

|About: Starbucks Corporation (SBUX)|By:, SA News Editor

Starbucks (SBUX) continues to increase its investment in locally-sourced coffee beans in China as it sees forecasts for coffee consumption for the region continue to move higher. The market for packaged coffee products is estimated to be set to rise 75% to 16B yuan ($2.5B) by 2017 which fall in line with the company's plans for 1,500 stores by 2015. Early response to American phenomenon Starbucks in lower-tier Chinese cities has been stronger than expected.