The process of steeped ground coffee beans in low temperatures in water for a long time is known as cold brewing. This method is also called cold pressing or cold water extraction. This process is followed by soaking coarse ground coffee beans in water for over twelve hours.
Rising customer inclination towards consumption of coffee drinks, rapid urbanization, and the surging demand for cold coffee is likely to propel the development of the global cold-brew coffee market in the future. In addition, expansion in awareness among the people relating to coffee beans, growth in people’s buying ability, expansion in per capita coffee consumption, and the rising name of cold brew coffee are among the key factors pumping up the global cold-brew coffee market. However, less people’s engagement in the production of cold brew coffee in every household with easy presence of substitute products such as hot tea and coffee is likely to hamper the revenue of the cold brew coffee industry to some extent.
Also, the introduction of new products by the players with attractive outer packaging and marketing strategies to expand the customer base is expected to push the market growth.
The global cold-brew coffee market is broadly segregated into distribution channel, product type, and regions. In terms of product type, the global market is divided into Liberica, Arabica, and Robusta. Based on the distribution channel, the market is classified into supermarkets & hypermarkets, online retail stores, convenience stores, company-owned retail outlets, retail stores, and specialty coffee stores.
Geographically, the Asia Pacific is likely to lead the global cold-brew coffee market within the forecast period. This is attributed to the surging demand for flavored and specialty coffee, drinks, change in consumption of the beverage, rising preference for instant beverages premixes like coffee & tea, and flourishing retail activities in the nations like China, India, and Japan.
Moreover, North America is foreseen to grow in the coming years owing to rise in health-conscious people in the region. In addition, the convenient and affordable availability of coffee will expand in the Middle East and Africa region.
The leading players in the global cold-brew coffee market include Nestle S.A., Califia Farms, Kohana Coffee, RISE Brewing Co., The Coca-Cola Company, Ting Hsin International Group Co. Ltd., UCC Ueshima Coffee Co., Ltd., Heartland Food Products Group, illycaffe S.p.A, High Brew Coffee Starbucks Corporation, JAB Holding Company, Luigi Lavazza S.p.A., La Colombe Torrefaction, Coffee Roasting Company Schreyögg Srl, and Dunkin’ Donut. As cited, Austin-based coffee brewing company, High Brew Coffee, is growing its existing Ready-to-Drink (RTD) range. These are also innovating its newly-launched nitrogenated (nitro) cold brew coffee category, Sweet Cream Nitro Cold Brew.