The latest market report published by Credence Research, Inc. “Global Cold Brew Coffee Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. Theglobal Cold Brew Coffee Market generated revenue of around USD 1.0 billion in 2021 and is anticipated to grow a CAGR of over 25.5% during the forecast period from 2022 to 2028 to reach around USD 3.9 billion in 2028.
Younger generations and millennials are driving the market for cold brew coffee because they are more willing to test new coffee flavors and varieties. A significant driver of the market expansion for cold brew coffee over the anticipated period has been the rise in popularity of ready-to-drink drinks among young professionals who lead hectic lifestyles. Additionally, a rise in iced coffee demand, rising consumer interest in specialty coffee beverages, rising coffee consumption in developing nations, and rapid urbanization are some of the major factors projected to propel the cold brew coffee market expansion in the upcoming years. Furthermore, growing consumer understanding of coffee beans, rising health concerns, rising consumer spending on more expensive coffee beverages, and growing interest in cold brew coffee are other key drivers fueling the growth of the cold brew coffee market over the forecast period.
The global cold brew coffee market is bifurcated into Type, Category, Distribution Channel, and Geography. Based on type, the market is segmented into arabica and robusta. Based on category, the market is categorized into traditional and decaf. Based on distribution channel, the market is segmented into store-based and non-store based. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, North America held the largest share of global cold brew coffee market due to increasing consumer spending and growing preference for coffee over other ready-to-drink beverages. Moreover, many big companies are focusing on introducing new product variants through various distribution channels, which is likely advantageous for the cold brew coffee market in North America. On the other side, Asia-Pacific is estimated to grow at the highest CAGR over the forecast period, owing to the rising product demand in emerging nations like India, China, and Japan. The success of gourmet coffee firms has enhanced the preference for specialty items over traditional ones in India, which has fueled the industry growth.
There are several factors that are driving the growth of the cold brew coffee market:
Health benefits: Cold brew coffee has a lower acidity level compared to hot brewed coffee, which makes it easier on the stomach and less likely to cause heartburn. It is also rich in antioxidants, which can have a number of health benefits.
Convenience: Cold brew coffee is easy to make and can be stored in the refrigerator for several days, making it a convenient option for busy people who want to grab a quick coffee on the go.
Taste: Many people find that cold brew coffee has a smoother, less bitter taste than hot brewed coffee, which can make it more appealing to some people.
Novelty: Cold brew coffee has gained popularity in recent years due to its novelty and the increasing availability of cold brew coffee at coffee shops and in retail stores.
Increased demand for specialty coffee: There has been a trend towards specialty coffee in recent years, with more people seeking out high-quality, unique coffee experiences. Cold brew coffee fits into this trend, as it is seen as a specialty coffee option.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global cold brew coffee market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global cold brew coffee market segmentation based on type, category and distribution channel.
- Major countries in each region with their import/export statistics
- The global cold brew coffee market report also includes analyzing of the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
Browse Full Report: https://www.credenceresearch.com/report/cold-brew-coffee-market
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