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The escalating consumer base switching from the consumption of carbonated beverage to coffee is expected to drive the cold brew coffee market. Cold brew coffee is less acidic compared to hot drip and espresso and offers a refreshing aroma and taste. The rising popularity of cold brew coffee is increasing the expansion of the cold brew coffee industry across the globe. The massive trend of ready-to-drink beverage consumption is expected to further propel the market growth.
The prominent players operating in the global cold brew coffee are embarking upon the new product launches to increase their consumer base. For instance, in October 2019, Kraft Heinz Co. has expanded its product portfolio by the launch of Non-alcoholic Bailey’s Cold Brew Coffee in cans. The product is available in the two different variants viz., Irish Cream and Salted Caramel.
Key Market Driver -
Increasing Popularity of Cold Brew Coffee
Key Market Restraint -
Fluctuating Raw Material Prices
The refreshing flavor coupled with the great taste of cold brew coffee is anticipated to propel the market growth in forthcoming years. The increasing popularity of Ready-to-drink beverages and easy availability of the cold brew coffee in hypermarkets and supermarkets is expected to boost the demand for cold brew coffee. The consumption of cold brew coffee is expected to boost the digestive system owing to its natural antioxidant content. The tremendously increasing popularity of café culture, especially among the youth population, is anticipated to leverage the market growth positively. The variety of products offered by prominent market players and innovations in the new product packaging is expected to propel the market growth in the upcoming years. For instance. in February 2020, Calm Drinks, introduced its new range of CBD-infused cold drink coffee, to respond to the increasing demand of both CBD and cold brew coffee in the UK market.
The fluctuating price of coffee beans is attributed to its low availability in the market which is anticipated to rise the final price of the product and hence can negatively impact the market growth. The organic and authentic raw coffee beans require a special kind of attention and high maintenance cost.
The prominent players operating in the global Cold Brew Coffee market are, Nestle S.A., HighBrewCoffee, The Coca-Cola Company, Starbucks, Califia Farms, JAB Holding Company, Kohana Coffee, RISE Brewing Co., Sleepy Owl, Heartland Food Products Groups, and Others.
Arabica coffee beans segment is anticipated to hold a significant share in the global market of cold brew coffee during the forecast years. Arabic coffee beans are widely utilized in the café for the cold brew coffee preparation owing to its unique and mild taste. The increasing number of cafes worldwide is anticipated to drive the Arabic coffee beans market in forthcoming years. The increasing number of Arabic based cold brew coffee options in the global market is anticipated to propel the segment’s growth. For instance, in March 2019, Lavazza, U.S. based brand announced the launch of its first Cold Brew Coffee. The Cold Brew Coffee is made with the 100% washed Arabica blend which offers a smooth taste along with the rich body.
The company-owned outlets are anticipated to hold the prominent share in the sales of cold brew coffee owing to escalating consumer preference to freshly prepared food & beverage products. The rising awareness about the adverse health effects of packaged drinks which has preservatives in it is anticipated to propel the sales through company-owned outlets. The increasing number of outlets is expected to propel the sales of cold brew coffee. Furthermore, the discount offered on the bulk purchasing of cold brew coffee in supermarkets/hypermarkets along with the attractive arrangement of the cold brew coffee on different shelves or in the refrigerator is predicted to increase the sales through supermarkets/hypermarkets.
The greater acceptance of cold brew coffee due to its refreshing taste and different flavors is anticipated to drive the market of cold brew coffee in North America. The increasing popularity of cold brew coffee over carbonated drinks due to the adverse health effect of carbonated drink consumption is expected to propel the market growth of cold brew coffee in the forthcoming years. The escalating consumer inclination towards craft beverages across North America along with the presence of prominent market players such as Starbucks, Coca-Cola Company is expected to leverage the market positively. The prominent players operating in the North American market are focused on the new product launches. For instance, in February 2020, Starbucks announced the launch of its new Ready-to-Drink Nitro Cold Brew Coffee which comes in three variants viz, Black, Dark Caramel and Vanilla Sweet Cream
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Asia Pacific is anticipated to witness the substantial growth in the global market of cold brew coffee in forthcoming years. The rapid urbanization along with the increasing purchasing power of the consumers is anticipated to act as a fuelling agent for the growth of the market within the region. The increasing popularity of café culture is anticipated to boost the sales of cold brew coffee. The prominent players are expanding their consumer base in Asia Pacific with the launch of new products. For instance, in January 2020, Nescafe announced the launch of its new Cold Brew Coffee bottles in Thailand. The product is available in the Black and Latte variant.
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