Iced Coffee Market: Overview
The evolution of beverages began with iced coffee. Cold brewing, which involves steeping freshly ground beans in filtered water, is replacing iced coffee in popularity. At room temperature, cold water is used to make cold brew. Without heating, the oil extraction that takes place in the hot brew is avoided, giving the product a richer and more enticing aroma. Due to its smoother, less acidic taste, naturally sweeter, and fruitier flavour, customers are turning to cold brew coffee. Additionally, the increased consumer interest in specialty coffee drinks, cold brew, and premium ready-to-drink coffee is helping coffee shops.
Today, more nitrogen-filled cold brew coffee products have hit the market as producers create inventive packaging for the high-end coffee beverage. However, despite the fact that cold brew has changed the menus at coffee shops and attracted more media attention as a result of its expanding trend, the typical consumer is still not particularly interested in a cold brew or iced coffee.
Over the course of the projection period, it is anticipated that the cold brewing coffee market would experience substantial expansion. Due to growing ready-to-drink coffee popularity, rising disposable income, and rising per capita coffee consumption, the market is expected to do well in the near future.
The primary factors that can drive the market revenue growth of cold brew coffee in the near future include the regular launch of new products with innovative packaging to attract new customers as well as companies adopting innovative marketing strategies to enhance customer base and market presence.
Due to rising demand for ready-to-drink cold brewing coffee, the retail sales segment is anticipated to dominate the worldwide cold brewing coffee market over the forecast period. To avoid taking up more space due to preparation in labour concentration in restaurants and cafes, food service companies and other retailers are requesting that coffee be supplied in buckets and kegs.
Due to a growing preference among consumers for instant coffee drinks premix and a changing lifestyle, the Japan cold brew coffee market is anticipated to see a high CAGR over the forecast period. Furthermore, due to rising demand for premium coffee and an increase in health-conscious customers, the market in North America is predicted to experience significant expansion in the global cold brewing coffee market over the course of the forecast period.
Global Iced Coffee Market: Major Players
Cove Coffee Co
Seaworth Coffee Co
Wandering Bear Coffee
Red Thread Good
Slingshot Coffee Co
Global Iced Coffee Market: Types
Global Iced Coffee Market: Applications
Drivers and Restraints:
Some of the key factors propelling the growth of the global cold brewing coffee market include expanding consumer preference for distinctive coffee beverages, rising coffee consumption in developing nations, rapid urbanization, rising demand for iced coffee, and expanding distribution channels by major players. Additional significant factors driving the growth of the cold brewing coffee market over the forecast period include an increase in consumer awareness of coffee beans, rapidly rising health concerns among consumers, a rise in consumer spending on more expensive coffee beverages, and rising popularity of cold brew.
However, the lack of consumer interest in cold brewing coffee at home, the need for twice as many beans, the availability of substitute products like tea, hot coffee, and other beverages, along with the preference of consumers to purchase it as an occasional treat, may restrain the growth of the cold brewing coffee market during the forecasted period.