NEW YORK, May 6, 2024 /PRNewswire/ — The global cold brew coffee market size is estimated to grow by USD 439.93 million from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 7.73% during the forecast period.
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|
Report Attribute |
Details |
|
Base Year |
2022 |
|
Forecast period |
2023-2027 |
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Historic Data for |
2017 – 2021 |
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Segments Covered |
Product (Arabica-based cold brew coffee, Robusta-based cold brew coffee, and Liberica-based cold brew coffee) and Distribution Channel (Offline and Online) |
|
Key Companies Covered |
Califia Farms LLC, Canterburry Coffee Corp., Gambino Coffee, Gradys Cold Brew, Heartland Food Products Group LLC, HighBrewCoffee, Kohana Coffee, La Colombe Torrefaction Inc., Lucky Jack Coffee, RISEANDSHINE CORP., Rombouts Coffee GB Ltd, Sleepy Owl Coffee Pvt. Ltd., Starbucks Co., Station Cold Brew, The Coca Cola Co., The Kind Coffee Co., Venice Cold Brew, Wandering Bear Inc., and Nestle SA |
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Regions Covered |
North America, Europe, APAC, South America, and Middle East and Africa |
Key Trends Fueling Growth
- Rising number of mergers and acquisitions as well as opening new chains:
- In the global cold brew coffee market, vendors are engaging in mergers and acquisitions (M&A) to broaden their product range and enter the growing ready-to-drink (RTD) coffee sector. Big players are buying smaller firms to access new products economically. Nestle SA’s acquisition of The Bountiful Company’s core brands in April 2021 is an example of this strategy to bolster its health and nutrition offerings.
- Additionally, vendors are expanding by opening new chains both domestically and locally. In 2021, Starbucks Coffee Co. introduced 278 new stores worldwide to enhance its market presence.
- These M&A activities enable vendors to increase their market share and reach. Many major vendors are anticipated to acquire small and regional suppliers in the forecast period.
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Major Challenges:
- Possible side effects of caffeine
- The global instant coffee market may face challenges in the forecast period due to health concerns linked with caffeine consumption. Excessive caffeine can heighten anxiety, disrupt sleep, and cause insomnia. It also raises blood sugar levels, complicating insulin management for type-2 diabetes sufferers.
- Additionally, caffeine inhibits magnesium absorption, crucial for healthy digestion, slowing food processing. Dehydration is another risk of caffeine intake.
- Overconsumption can overstimulate the nervous system, leading to irritability, anxiety, headaches, palpitations, and dizziness. These potential side effects could negatively impact instant coffee sales during the forecast period.
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Segmentation Overview
- Product
- 1.1 Arabica-based cold brew coffee
- 1.2 Robusta-based cold brew coffee
- 1.3 Liberica-based cold brew coffee
- 2.1 Offline
- 2.2 Online
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and Africa
1.1 Arabica-based cold brew coffee- The Arabica-based cold brewed coffee market is expected to experience significant growth in market share in the upcoming period. Arabica Coffea, the most widely grown type globally, offers a unique taste profile ranging from sweet-soft to sharp-tangy. Arabica beans, known for their lower caffeine content and superior quality, are preferred by consumers.
- In 2020, the Arabica-based segment emerged as the leading product, valued at USD 504.22 million in 2017 and steadily growing until 2021. The global market remains moderately fragmented due to numerous regional and a few global companies.
- Growth drivers include the expansion of organized retailing outlets offering Arabica-based beverages and the increasing number of new product launches featuring Arabica beans. These factors are anticipated to fuel the growth of the Arabica-based segment in the forecast period.
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Analyst Review
The Cold Brew Coffee market has experienced significant growth in recent years, particularly among millennials and Generation Z. Brands like Starbucks and Dunkin Donuts have accelerated the penetration of this beverage by offering various coffee varieties and flavors in RTD (Ready-to-Drink) formats. Nestle and other industry players have also joined the fray, recognizing the potential of this market segment. Professionals and consumers with an active lifestyle and social standing seek convenient and unique coffee experiences.
Coarsely ground coffee steeped in water for an extended period creates a distinct taste profile for iced coffee, making it an attractive alternative to traditional hot brew methods. RTD beverages offer health benefits, including antibacterial characteristics, making them a popular choice for those conscious of their well-being. Micro-economic factors and consumer awareness continue to influence decision-makers in the coffee industry, ensuring the continued growth and innovation of cold brew coffee products.
Market Overview
The Cold Brew Coffee market is experiencing significant growth, driven by consumers’ increasing preference for this unique and distinctive coffee brewing method. The process, which involves steeping coffee grounds in cold water for an extended period, results in a smooth, rich, and less acidic beverage. The market is characterized by various players offering different product profiles, including ready-to-drink (RTD) cold brew coffee, concentrate, and whole bean.
The market’s expansion is influenced by factors such as the rise in health-conscious consumers, the convenience factor, and the growing trend of artisanal coffee. Additionally, the market is witnessing innovation in packaging and flavors to cater to diverse consumer preferences. The future looks promising for the Cold Brew Coffee market, with potential opportunities in emerging markets and the continuous exploration of new product offerings.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
- Arabica-based Cold Brew Coffee
- Robusta-based Cold Brew Coffee
- Liberica-based Cold Brew Coffee
- Distribution Channel
- Offline
- Online
- Geography
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
