The global Cold Brew Coffee Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global cold brew coffee market is projected to touch USD 1.63 billion by the year 2025, as per a new report provided by Million Insights. It is expected to grow with a CAGR of 25.1% over the forecast period. The growing acceptance of quality and artisanal products along with changing customer needs has opened new growth prospects in the global market. The market is driven by increasing demand for specialty goods due to various improvements in the RTD coffee division.
Key Players:
- Starbucks
- Nestle
- Califia Farms
- JAB Holding Company
- HighBrewCoffee
- Kohana Coffee
- La Colombe Torrefaction
- RISE Brewing Co.
- Heartland Food Products Group
Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/global-cold-brew-coffee-market/request-sample
Growth Drivers:
Further, a rising adaptation of RTD beverage is also encouraging the development of the market. Moreover, key players like Starbucks expanded their product offering to cold brew due to the rising acceptance of iced coffee. Additionally, for the ease of customers, the company announced the launch of cold brew coffee pitcher packages that allowed customers to brew coffee anywhere. This is expected to drive the market over the forecast period.
Besides the initial pioneers, including Chameleon Cold Brew’, Stumptown and Grady’s, various craft coffee establishments and foodservice artisans announce the launch of cold brew forms Dunkin’ Donuts, Starbucks and Peet’s Tea and Coffee, thereby boosting the development of the global market. The corporate maintained shop segment retained the major share exceeding 50%, in 2018 on account of customer choices for specialty coffees. RISE Brewing Co. had unusual success in incorporating a market standing via its independent outlets and specialty stores.
Distribution Channel Outlook:
- Supermarkets & Hypermarkets
- Company Owned Outlets
- Convenience Stores
- Online
The company-owned store segment holds the major share of the market, in 2018. The segment is propelled by the growing inclination of customers towards specialty coffee provided by the outlets of different companies. RISE Brewing Co. with the help of independent shops and specialty channels has incorporated a significant market position.
Substantial growth is also predicted for other channels like hypermarkets & supermarkets and convenience stores in upcoming years. Key players such as Dr. Pepper, Starbucks, and RISE Brewing Co. are concentrating on other conventional stores and grocery channels to expand their consumer base. Further, key players have made their products available in convenience and grocery stores over the last few years. This is expected to provide traction to the cold brew coffee market growth.
Regional Outlook:
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
In North America, U.S. dominated the market accounting for more than 70% of the market share, in 2018. As per the U.S. Dept. of Agriculture, rising outlay by millennials coffee over other beverages resulted in the rise of coffee consumption by 1.5%, in 2016. Further, the key players are continuously focusing on coming up with new cold brew coffee variants and are pushing them through various distribution channels. This is expected to positively impact the market over the forecast period.
Asia Pacific is estimated to account for the fastest CAGR over the forecasted period on account of rising demand, majorly in China, Japan and India. There is a growing preference of consumers towards gourmet coffee brands lead to the increased demand for such coffee products over traditional coffee that is available in the market. Thus, providing lucrative growth of coffee products in the region.
Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/
No comments:
Post a Comment