IMARC Group has recently released a new research study titled “Cold Brew Coffee Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global cold brew coffee market size reached US$ 1.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.2 Billion by 2032, exhibiting a growth rate (CAGR) of 21.51% during 2024-2032. The growing consumer preference for less acidic coffee flavors, rising demand for ready-to-drink (RTD) beverages among the masses across the globe, and increasing health consciousness among individuals are some of the major factors propelling the market.
Global Cold Brew Coffee Market Trends:
The growing consumer preference for premium and specialty coffee products represents one of the key factors influencing the growth of the cold brew coffee market across the globe. Cold brew, often perceived as a more refined alternative to traditional iced coffee, aligns with this trend, as consumers seek high-quality, artisanal coffee experiences. This is complemented by the rising popularity of flavor innovations, where cold brew is infused with a variety of flavors, from classic vanilla and caramel to more adventurous options like coconut or spices, catering to diverse palates.
The market is also driven by the rise in ready-to-drink (RTD) cold brew offerings. The convenience of RTD formats is appealing to consumers seeking quick, on-the-go coffee options without compromising on quality. This trend is particularly strong among younger demographics and in regions with fast-paced lifestyles.
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Factors Affecting the Growth of the Cold Brew Coffee Industry:
- Changing Consumer Preferences and Health Consciousness:
In recent years, there has been a noticeable shift in consumer preferences towards healthier and more natural beverage options. Cold brew coffee, known for its smooth taste and lower acidity compared to traditional hot-brewed coffee, aligns well with these changing tastes. It is perceived as being more gentle on the stomach and often contains less caffeine, which appeals to health-conscious consumers. Additionally, the natural sweetness and reduced bitterness of cold brew coffee attract those who prefer a milder coffee flavor without the need for added sugars or creamers. This shift towards healthier and more flavor-focused beverage choices significantly contributes to the growing popularity of cold brew coffee.
- Innovation and Product Variety:
The market has seen an influx of innovations in terms of flavor infusions and product varieties. From classic black cold brews to those infused with flavors like vanilla, caramel, or even non-dairy alternatives, the variety caters to a wide range of consumer tastes. This innovation extends to packaging as well, with offerings ranging from ready-to-drink bottles and cans to concentrated versions that can be mixed with water or milk. Such diversity in products not only makes cold brew coffee more accessible to a broader audience but also allows consumers to personalize their coffee experience according to their preferences. This variety and innovation are crucial in attracting new customers and retaining the interest of existing ones.
- Rise in Café Culture and At-Home Consumption:
The increasing popularity of café culture, particularly among millennials and Gen Z, has played a significant role in the rise of cold brew coffee. Cafés offer an ideal platform for introducing consumers to cold brew coffee, often highlighting it as a premium, artisanal product. Additionally, the COVID-19 pandemic has significantly shifted the consumption pattern towards at-home coffee brewing. With more people working from home, there has been a rise in demand for easy-to-make yet high-quality coffee options. Cold brew coffee, with its convenience and long shelf life, fits well into this new consumer behavior, further driving market growth.
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Key Companies:
- Califia Farms LLC
- Grady’s Cold Brew Inc.
- High Brew Coffee Inc. (Beliv LLC)
- Illycaffè S.p.A. (Gruppo illy Spa)
- Kohana Coffee LLC (Westrock Coffee Company LLC)
- La Colombe Coffee Roasters
- Luigi Lavazza S.p.A. (FinLav S.p.A)
- Nestlé S.A.
- RISE Brewing Co.
- Sleepy Owl Coffee
- The Coca-Cola Company
Cold Brew Coffee Market Report Segmentation:
By Type:
- Arabica
- Liberica
- Robusta
Arabica beans dominate the cold brew coffee market by type due to their superior flavor profile, which includes a smoother, sweeter taste with hints of fruits and berries, making them ideal for the cold brewing process that highlights these nuanced flavors.
By Category:
- Traditional
- Decaf
Decaf cold brew coffee leads the category market because it caters to health-conscious consumers and those sensitive to caffeine, offering the rich taste of cold brew coffee without the stimulating effects of caffeine.
By Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Supermarkets and hypermarkets are the largest distribution channel for cold brew coffee, offering wide visibility, diverse brand selection, and convenience, making it easy for consumers to explore and purchase a variety of cold brew options during their regular shopping trips.
By Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
North America is the largest market for cold brew coffee by region, largely due to its well-established coffee culture, the popularity of innovative coffee beverages, and the growing trend of on-the-go consumption, especially among younger demographics in urban centers.
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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