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In addition to its coffee portfolio, it produces a range of other popular consumer products. These include its signature jams, peanut butter, other popular spreads, and several pet food brands. The surging demand for substitute products is a major challenge to the global cold brew coffee market growth. Over the last three decades, other hot and cold beverages such as RTD coffees like frappuccino, mocha, espresso drinks, roast and ground coffee, soft drinks, carbonated drinks, nutritional and energy drinks, green tea, iced tea, coffee pods, iced coffee, and cold coffee have grown in popularity and emerged as a major challenge for the market. Also, the advent of energy drinks such as Stokely-Van Camp Gatorade and RED BULL has adversely affected the consumption of cold brew coffee.
Global Cold Brew Coffee Market Customer Landscape Who are the Major Cold Brew Coffee Market Vendors?
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The increasing popularity of instant coffee among millennials and new product launches are key factors driving the global cold brew coffee market growth. The spending power of Millennials is higher than that of Baby Boomers, and it is expected to increase during the forecast period. Coffee consumption has been increasing among Millennials, with instant coffee increasingly becoming popular. Flavored instant drinks are in high demand from Millennial consumers. Vendors, therefore, offer new products that target the Millennial population. Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. Our list features several instant coffees. Instant coffee is great for situations where you are in a rush. With hot water and about two minutes of your time, you can have a decent cup of coffee. Plus, instant coffee is very common in Vietnam, so you know you’re getting an authentic cup of coffee. North America is estimated to contribute 59% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The demand for cold brew coffee is high in the US and Canada, owing to the prevailing preference for coffee in these countries. North America is the largest market in the world in terms of cold brew coffee products. In 2022, the market in North America was moderately fragmented due to the presence of a large number of regional and a reasonable number of global vendors. The US is the largest country-specific market for cold brew coffee products as it accounted for the highest revenue share of the market, which will drive the growth of the market in the region during the forecast period. Coffee is part of the broader consumer goods sector, which is generally considered to be recession-proof. Simply put, people typically continue buying consumer goods even during tough economic times.
Since it's a private company, investors can't own shares in JAB. But coffee investors should be aware of the company's influence on the industry since it's taken a number of coffee businesses private in recent years. It also led Krispy Kreme's IPO on July 1, 2021. At the end of 2020, JAB owned 33% of Keurig Dr Pepper.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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