Global Cold Brew Coffee Market Size, Share, and COVID-19 Impact Analysis, By Packaging (Plastic Bottles, Glass Bottles, and Cans), By Distribution Channel (Specialty Stores, Online Retail, Supermarkets, and Convenience Stores), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Global Cold Brew Coffee Market Insights Forecasts to 2033

• The Global Cold Brew Coffee Market Size was Estimated at USD 2.58 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 22.66% from 2023 to 2033
• The Worldwide Cold Brew Coffee Market Size is Expected to reach USD 19.89 Billion by 2033
• Asia Pacific is Predicted to Grow at the fastest CAGR throughout the Projection Period

The Global Cold Brew Coffee Market Size is Predicted to Exceed USD 19.89 Billion By 2033, Growing at a CAGR of 22.66% from 2023 to 2033.

Market Overview 

The preparation, distribution, and consumption of coffee made by soaking coffee seeds in cold water for 12 to 24 hours produces a smoother, less acidic, and naturally sweet beverage, which is how the global cold brew coffee market is introduced. Cold brew coffee is coffee made with cold water, such as room temperature, rather than hot water. This process produces a smoother, more mellow cup and allows for the development of a stronger concentrate. Because it removes the bitterness from the coffee, it produces more caffeine than other methods, but it takes longer to brew. The cold brew method extracts the flavor and caffeine from the beans, creating a rich, aromatic cup, and it is low-acidic. It is offered by companies like Dunkin Donuts and Starbucks and is widely accessible. Various government initiatives drive the market growth. For instance, to increase coffee production and satisfy rising domestic and international demand, the Coffee Board of India has started several initiatives. Expanding cultivation in non-traditional areas, increasing yields, and ensuring the sustainability of coffee farming are the objectives of the Integrated Coffee Development Project (ICDP). These actions are a component of a larger plan to upgrade India's coffee sector, boost output, and improve its standing internationally. The objective of the ICDP is to establish India as a major player in the global coffee industry and to make it a dominant force in the cold brew coffee market.   

Report Coverage

This research report categorizes the global cold brew coffee market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global cold brew coffee market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global cold brew coffee market. 

Driving Factors

Proliferation in the need for ready-to-drink products:

The market for cold brew coffee is anticipated to expand as a result of new ready-to-drink (RTD) formats and convenience. People who don't have time to make their coffee and don't want to go to cafes are especially fond of this convenience. The fact that cold brew is packaged in bottles or cans makes it convenient for people to carry around. As it provides a smoother, less acidic, and refreshing alternative to conventional coffee products, ready-to-drink cold brew has additionally grown in popularity as concerns about leading an active lifestyle have grown. These elements are currently propelling the market and increasing its popularity.

Saturation of coffee shops and launching innovative coffee drinks:

The market for cold brew coffee is expanding since many coffee shops now offer it as a standard item on their menus. Globally established, these chains have recognized the increasing trend of consumers looking for novel tastes and experiences. Along with trying out new spinoffs like cold brew latte, nitro cold brew, and seasonal flavors, they provide a variety of cold brews. This diversification has a high level of appeal. Due to its ability to satisfy consumer demands and preferences. Coffee shops additionally contribute to the market by educating customers about the unique qualities of cold brew coffee.

Restraining Factors

The high cost of the cold brew coffee, variations in the price of the coffee beans, environmental and climatic alterations, limited availability of the raw materials may impede the growth of the market.

Market Segmentation

The global cold brew coffee market share is classified into packaging and distribution channel.

•    The cans segment dominated the global cold brew coffee market in 2023 and is anticipated to grow at a significant CAGR throughout the forecast period.

Based on the packaging, the global cold brew coffee market is categorized into plastic bottles, glass bottles, and cans. Among these, the cans segment dominated the global cold brew coffee market in 2023 and is anticipated to grow at a significant CAGR throughout the forecast period. The segment dominance is ascribed to the rigidity, durability, recyclability, flexible packaging, and corrosion resistance.

•    The supermarkets segment accounted for the largest market share in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe.

Based on the distribution channel, the global cold brew coffee market is categorized into specialty stores, online retail, supermarkets, and convenience stores. Among these, the supermarkets segment accounted for the largest market share in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. The segmental expansion is attributed to the large-scale distribution, availability of branded and local products of the cold brew coffee, lower prices as compared to local shops and retailers, and consumer convenience.

Regional Segment Analysis of the Global Cold Brew Coffee Market

•     North America (U.S., Canada, Mexico) 
•     Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
•     Asia-Pacific (China, Japan, India, Rest of APAC)
•     South America (Brazil and the Rest of South America) 
•     The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global cold brew coffee market over the predicted timeframe.

North America is anticipated to hold the largest share of the global cold brew coffee market over the predicted timeframe. The high consumption of specialty coffee, the purchasing power of millennials, and their preference for coffee over other beverages make the U.S. and Canada a major global market for cold-brewed coffee. New product variations from major players, such as cold coffee loaded with nitrogen, are anticipated to have a positive effect on the market. Due to the growing demand for healthy coffee drinks that are low in trans fats, low in preservatives, high in protein, and containing essential micronutrients, the market is also seeing an upward trend. One major factor influencing sales in North America is the flavor of iced and ready-to-drink coffee.

Asia Pacific is anticipated to grow at the fastest CAGR throughout the projected timeframe. The growing demand, especially in China, India, and Japan, is predicted to propel the Asia Pacific coffee market's steady expansion. Due to the popularity of cold brew coffee brands in India, specialty goods are now preferred over traditional ones, creating profitable growth prospects. The market is expanding as a result of the younger generation in China having more disposable income; millennials are consuming more instant coffee and flavored instant beverages. In developing nations like China, Japan, Singapore, and India, suppliers are introducing new products aimed at this market, and the growing number of inventive products is raising consumer awareness of the variety of coffee available. In an attempt to draw in more customers and boost sales, manufacturers are growing.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global cold brew coffee market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Starbucks Corporation
• Wandering Bear Coffee
• Red Thread Coffee Co.
• Sandows London Limited
• Lucky Jack, LLC
• JAB Holding Company
• Wandering Bear Coffee
• Groundwork Coffee Company Inc.
• Grady’s Cold Brew
• Calaifia Farms LP
• Seaworth Coffee Co.
• High Brew Coffee
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2023, Stock Cold Brew, a rapidly growing cold brew coffee brand, introduced a new Espresso Blend Cold Brew in January. This new product is designed to evoke a lifelong obsession with Stock Cold Brew, a brand that is the fastest-growing among Millennials in 2022. The brand aims to create a dark and delicious cold brew experience that is perfect for the winter season.

Market Segment

This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global cold brew coffee market based on the below-mentioned segments:

Global Cold Brew Coffee Market, By Packaging

• Plastic Bottles
• Glass Bottles
• Cans

Global Cold Brew Coffee Market, By Distribution Channel

• Specialty Stores
• Online Retail
• Supermarkets
• Convenience Stores

Global Cold Brew Coffee Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa