New York, US, Jul 29, 2021 (GLOBE NEWSWIRE via COMTEX) -- New York, US, July 29, 2021 (GLOBE NEWSWIRE) -- Cold Brew Coffee Market Overview
According to a comprehensive research report by Market Research Future (MRFR), "Cold Brew Coffee Market Information by Type, Category, Distribution Channel, and Region - Forecast till 2027", the market is predicted to reach USD 654.91 Million by 2027 at 14.01% CAGR.
Top Growth Boosters:
The escalating consumption of cold brew coffee has been encouraging the top manufacturers to come up with even more innovative flavours to capture the attention of a higher number of consumers. The rising sales in developing economies, fast-paced urbanization, and brands' surging focus on expanding their online presence are some of the salient reasons for the robust market expansion worldwide. Mounting consumer knowledge about coffee beans, increasing spending on premium coffee beverages and soaring demand in places with hot and humid climate would also benefit the global industry in the next few years.
Furthermore, coffee consumption is closely linked to lifestyle, social status, and experience, and the rising knowledge about the various health benefits attached to the drink acts in favour of the global cold brew coffee market. People are also growing aware about the different types of coffee available in the market, boasting of better quality and taste, resulting in robust sales.
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The major vendors in the global industry include:
1degreeC Pte. Ltd (Singapore)
Venice Cold Brew LLC (US)
Julius Meinl Industrieholding GmbH (Austria)
ZoZozial Coffee Roasters ApS (Denmark)
Grady's Cold Brew (US)
Station Cold Brew Company (Canada)
Starbucks Corporation (US)
Sandows London Limited (UK)
Red Thread Coffee Co. (US)
Wandering Bear Coffee (US)
Nestle S.A. (Switzerland)
Califia Farms LP (US)
JAB Holding Company (Luxembourg)
Lucky Jack LLC (US)
High Brew Coffee (US)
La Colombe Torrefaction Inc. (US)
Groundwork Coffee Company Inc. (US)
KonaRed Corp (US)
Slingshot Coffee Co. (US)
Seaworth Coffee Co. (US)
These vendors are focused on expanding their regional presence while launching newer and more innovative products via strategies that include collaborations, agreements, and partnerships. Companies like RISE Brewing Co., Dr Pepper, and Starbucks target grocery channels like Walmart, etc to widen their consumer base. To cite a reference, in June 2021, BOMANI Cold Buzz, a highly renowned alcohol-infused cold brew coffee brand, introduced its latest Original and Vanilla alcohol-infused cold brew coffee line across a few Arizona retail stores such as Walmart, Whole Foods, BevMo, Sprouts, Total Wine, and some more in Phoenix.
The expanding customer base for alternative beverages like tea and hot coffee could pose a few challenges to the cold brew coffee brands in the coming years.
Browse In-depth Market Research Report (111 Pages) on Cold Brew Coffee: https://www.marketresearchfuture.com/reports/cold-brew-coffee-market-7818
COVID 19 Analysis
The lockdown imposed following the COVID-19 outbreak resulted in a massive economic downfall worldwide. Several companies and businesses had to be shut down while a number of industries faced with financial restraints.
However, leading cold brew coffee manufacturers have successfully come to terms with the situation and have adopted several strategies that could help them remain resilient. Effective marketing and attractive packaging are the key advertising tactics adopted by these companies to keep the sales steady worldwide. As a result, the global industry continues to note steady demand despite the pandemic situation.
Distribution channel and coffee type are the key segments outlined in the MRFR report.
On the basis of type, the global cold brew coffee market has been divided into arabica, Robusta, and others. The arabica segment is expected to dominate the global cold brew coffee market and be valued at USD 440.9 million by the end of 2025. Arabica has a wide range of health benefits such as anti-bacterial properties that maintain mouth health, lowers stress, improves metabolism, and promotes skin hydration. These factors are expected to propel the growth of the segment.
Categories of cold brew coffee available in the global market include decaf and traditional. It has been noted that the decaf coffee type has gained significant popularity in recent years, especially across Canada, US, Denmark, Iceland, South Korea, and Japan. As a result, the segment is touted to capture a higher growth rate over the review timeframe. Meanwhile, the traditional segment should garner the leading position in the years to come.
Distribution channels considered in the report include store-based as well as non-store-based.
The North American cold brew coffee procured the biggest share of 39.19% in 2018, with Mexico and the US identified as the top contributors to the said growth. It is also presumed that the regional market will capture the highest growth rate of 16.62% during the forecast period. Many of the major brands in the region are focused on expanding their product portfolios by launching new variants of cold brew coffees, which are charged with nitrogen. These new and innovative launches are emerging as huge hits among the urban population that are time-pressed and are in need for pick-me-up beverages.
The cold brew coffee industry in Europe is likely to garner high profits as well, on account of the significant coffee consumption in several commercial points like offices, customer service areas, retail stores, and more. The enhanced pushing power of the millennials along with their evolving tastes with higher preference for coffee has been favourable in recent years. Moreover, with the rising number of firms focused on launching new variants on different distribution channels, could bolster the market size in the region over the next few years.
APAC can experience the fastest growth between 2020 and 2025, thanks to the surging awareness about different coffee variants in developing economies like India, Japan, Singapore, and China. The rise in consumers' disposable income across the said countries and the significant growth in the urban population working in corporate sectors also add to the cold brew coffee market worth in the region.
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