Categories: Food & Beverages

Cold Brew Coffee Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Cold Brew Coffee Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Cold Brew Coffee Global Market Report 2024, The cold brew coffee market size has grown exponentially in recent years. It will grow from $1.14 billion in 2023 to $1.38 billion in 2024 at a compound annual growth rate (CAGR) of 21.8%. The growth in the historic period can be attributed to changing consumer preferences, rise in coffee culture and specialty coffee shops, marketing and branding initiatives, health and wellness trends, convenience and ready-to-drink formats..

The cold brew coffee market size is expected to see rapid growth in the next few years. It will grow to $2.87 billion in 2028 at a compound annual growth rate (CAGR) of 20.0%. The growth in the forecast period can be attributed to innovative flavor variations, retail and e-commerce expansion, collaborations and partnerships, rising demand for non-dairy options, integration into culinary creations.. Major trends in the forecast period include innovative packaging solutions, cold brew infused with functional ingredients, celebrity and artisanal collaborations, influence of cold brew in culinary creations..

The rise in government initiatives toward promoting coffee production is likely to contribute to the growth of the cold brew coffee market during the forecast period. Government initiative refers to any measure done or to be implemented by any relevant administration, government entity, supervisor, or authority with jurisdiction. Government initiatives in coffee production involve a partnership between roasters and dealers on one side and coffee-growing communities on the other. For instance, in May 2022, Saudi Arabia’s Public Investment Fund (PIF) established the Saudi Coffee Company, a government-backed organization tasked with increasing the Kingdom’s coffee production. According to statistics, coffee consumption in Saudi Arabia increased by about 4% each year between 2016 and 2021 and is anticipated to increase by another 5% per year until 2026, reaching an annual consumption of 28,700 metric tons. The Saudi Arabian government and Saudi Arabia’s Public Investment Fund (PIF) initiated an initiative to promote coffee production by launching the Saudi Coffee Company as part of a SAR 1.2 billion ($320 million) investment to improve the country’s coffee sector and increase production from 300 to 2,500 metric tons per year. Therefore, the rise in government initiatives towards promoting coffee production is driving the cold-brew coffee market.

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The cold brew coffee market covered in this report is segmented –

1) By Product: Arabica-Based Cold Brew Coffee, Robusta-based Cold Brew Coffee, Liberica-Based Cold Brew Coffee

2) By Category: Traditional, Decaf

3) By Distribution Channel: Company-owned outlets, Convenience Stores, Online, Supermarket and Hypermarket

Product innovation is a key trend gaining popularity in the cold-brew coffee market. Major companies operating in cold brew coffee are developing new products to strengthen their position in the market. For instance, in January 2023, STōK Cold Brew, a US-based cold brew coffee company, launched a new espresso blend cold brew. Brewed leisurely, this concoction reveals delightful nuances of chocolate, brown sugar, caramel, dried fruit, and nuts. It is the cold brew for people who will not let below-freezing temperatures or anything else stand in the way of their favorite beverage.

The cold brew coffee market report table of contents includes: