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.
The online distribution channel is projected to ascend with the fastest CAGR over the estimated duration owing to the growing penetration of the internet and increasing smartphone users. Further, leading players such as Sleepy Owl, Starbucks and Dr Pepper are focusing on online channels to proliferate online sales. On the other hand, offline channels such as hypermarkets, convenience stores, grocery stores and supermarkets are predicted to foresee substantial growth from 2019 to 2025. The market growth is anticipated to be driven by the introduction of cold brew coffee to various offline stores by the key players such as Starbucks.
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North America dominated the market in 2018 by holding a market share of over 70%. As per the U.S. Department of Agriculture, coffee intake in the U.S. was risen by 1.5% in 2016 due to factors such as growing preference for cold coffee brews and increasing spending of millennials on purchase of this product. Also, key players are focusing on the introduction of new variants of cold brews through several distribution channels, which, in turn, is projected to supplement the cold brew coffee market growth over the forecast duration. On the other hand, Asia Pacific is predicted to foresee considerable growth in the upcoming years owing to growing demand from countries such as Japan, India and China.
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.
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Further key findings from the report suggest:
• The company managed shops were the leading distribution channel division in 2018. It is expected to grow with a positive CAGR over the forecast period.
• The online channel accelerated the market with a CAGR of 26.4% in the forecasted period.
• North America was the leading regional market in 2018, escalated by the U.S. on account of more expenditure by customers and their choices for coffee in contrast to other beverages.
• The Asia Pacific is projected to witness a CAGR of 29.4% in the forecasted period on account of massive demand for cold brew.
• Several leading players in this market are RISE Brewing Co., La Colombe Torrefaction, Heartland Food Products Group, Sleepy Owl, JAB Holding Company, HighBrewCoffee, Kohana Coffee, Nestlé, Starbucks, and Califia Farms.
Million Insights has segmented the global cold brew coffee market based on distribution channel, and region:
Cold Brew Coffee Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Supermarkets & Hypermarkets
• Company Owned Outlets
• Convenience Stores
• Online
Cold Brew Coffee Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• U.S.
• Europe
• Germany
• Italy
• Spain
• Poland
• Asia Pacific
• Japan
• China
• India
• Central & South America
• Brazil
• Middle East & Africa
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