Market Research Future has been monitoring the Cold Brew Coffee Market 2020, and it is poised to grow by USD 507.93 Million during progressing at a CAGR of almost 14.10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, which is affected by ongoing COVID 19 pandemic that has affected all other businesses, latest trends and drivers, and the overall market environment.
Cold Brew Coffee Booming Factors
A new report from MRFR highlights the unwavering demand from consumers of all over the world for premium coffee varieties. Taste is the most significant driver to both hot and iced coffee purchases in coffees. In hot coffee, some disagreement is there if whether coffee is energizing or relaxing, with 32 percent of participants drink it to keep going. In comparison to this, 25 percent say it is to relax and wind down (through Consumer Survey 2019). For now, in iced coffee, happiness and treating are more vital than either of these. The suppliers feel that healthy consumers are happy consumers, with low sugar and dairy-free claims fast gaining ground. These factors have kept the coffee lovers to stay active in purchasing coffee brew amid Coronavirus pandemic.
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MRFR also mentions that for innovators, premiumization is a noteworthy focus across the market. In the case of point, in hot coffee, capsules for in-home machines present over half of the hot coffee launches in the year 2019, up from less than a third in 2015. To add in this, premium terminology is also adding value in this market, which is encouraging growth aspects for the future timeline. In the case of point, ‘Barista’ brand in coffee product names has augmented fivefold amid 2015 and 2019, while the share of cold brew products in the iced coffee arena alone surged from 1 percent of launches that was in 2015 to 19 percent in the year 2019.
Furthermore, ethical issues will continue to impact the cold brew coffee market in particular, with the capsule’s category working firm to advance its eco-credentials. Temporarily, the scenario between the out-of-home and in-home markets keep blurring, which could be essential for the wider category as the COVID-19 pandemic has constrained out-of-home chances. On the other note, the cold brew coffee market has gained popularity in recent years for its rising awareness regarding benefits such as low acidic and caffeine content. The towering demand for on-the-go drinks has appreciably contributed to the rising requirement for cold brew coffee.
On the contrary, the factor of easy availability of a variety of substitutes such as tea, regular coffee, and traditional beverages might restrain the growth of the market. In fact, fluctuating raw material prices and high competition are other main challenges faced by manufacturers.
Notable players in the Global Cold Brew Coffee Market include Venice Cold Brew, LLC (US), ZoZozial Coffee Roasters ApS (Denmark), Station Cold Brew Company (Canada), Grady’s Cold Brew (US), Starbucks Corporation (US), Red Thread Coffee Co. (US), Nestlé S.A. (Switzerland), JAB Holding Company (Luxembourg), High Brew Coffee (US), KonaRed Corp (US), Slingshot Coffee Co. (US), and Groundwork Coffee Company Inc. (US).
Depending on the type segment, the Global Cold Brew Coffee Market has been included robusta, arabica, and others. Among these, the arabica segment might lead the global market and be valued at USD 440.9 million by the end of 2025. Arabica owes a wide range of health benefits such as anti-bacterial properties that maintain lowers stress, mouth health, promotes skin hydration, and improves metabolism. These factors are expected to propel the growth of the segment.
By category segment, the market has included traditional and decaf.
By the distribution channel segment, the market has included store-based and non-store-based. The store-based segment has included specialty stores, supermarkets, and hypermarkets and convenience stores.
North America might constitute a leading share of the cold brew coffee market during the assessment period. The region grabbed a 39.19% share of the market in the year 2020. The US and Mexico are among the foremost contributors to the growth of the market. The North American market occupied a prominent share of the global cold brew coffee market and registered the highest CAGR of 16.62% during the forecast period of 2019 to 2025. The US is estimated to constitute a governing share of the market as crucial manufacturers in North America are expanding their portfolios by introducing cold brew coffees charged with nitrogen. This, in turn, is extensively motivating the growth of the cold brew coffee market in the region.
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