Canada's cold brew coffee market is a burgeoning segment within the country's vibrant coffee culture. With a growing demand for premium and artisanal coffee experiences, cold brew gains popularity among Canadians seeking quality and convenience. From local coffee roasters to national chains, cold brew offerings vary from classic black to creative flavor combinations. Factors such as sustainability, fair trade practices, and health consciousness drive market growth and product innovation. Despite competition from traditional hot coffee and other beverage categories, the Canadian cold brew coffee market shows promising signs of continued expansion and consumer adoption.
The demand for innovative and refreshing drinks has risen considerably, and this factor is likely to promote the cold brew coffee market. The market's report is efficiently analyzed as per MRFR, which provides outlooks for the global markets. A CAGR of 11.74%is estimated to encourage market development in the forecast period.
The Cold Brew Coffee market size is projected to grow from USD 1.33 Billion in 2022 to USD 3.25 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.74% during the forecast period (2022 - 2030).
The development of multinational coffee chains and select cafes in certain regions is estimated to propagate the expansion of the cold brew coffee market. The upgradation of retail chains globally is foreseen further to inspire the progress of the cold brew coffee market.
Segmental Analysis
The segmental overview of the cold brew coffee market has been conducted on the basis of category, distribution channel, type and region. The category segment of the cold brew coffee market consists of decaf and traditional. The region segment of the cold brew coffee market consists of North America, Asia Pacific, Europe, Middle East and Africa. The distribution channels segment of the cold brew coffee market consists of store-based and non-store-based. The type segment of the cold brew coffee market consists of Arabica, Robusta, and others.
Competitive Analysis
The collaborative efforts of the market contenders are expected to broaden the horizons for development in the foreseeable future. The focus on the client's needs is estimated to be more important than before as changes in living standards can have a notable bearing on the popularity of certain market trends. The contenders in the market are likely to see aggressive competition in the coming years. The reimagined market structure is predicted to rely on a combination of robust online selling capabilities and a capable supply chain. The measures being undertaken to ensure seamless functioning of the market is estimated to lay off in the long run. The market is projected to witness a period of turbulence with the impact of the pandemic on the workforce and the economy as a whole. The investment towards cutting-edge technology is anticipated to take a sharp surge with amplified funding accessibility. The formation of strong trade relations among several regions is forecasted to have a beneficial effect on growth.
The renowned companies in the cold brew coffee market are Venice Cold Brew, LLC (US), La Colombe Torrefaction, Inc. (US), Red Thread Coffee Co. (US), ZoZozial Coffee Roasters ApS (Denmark), 1degreeC Pte. Ltd (Singapore), Lucky Jack, LLC (US), Julius Meinl Industrie Holding GmbH (Austria), Wandering Bear Coffee (US), Grady's Cold Brew (US), Groundwork Coffee Company Inc. (US), Station Cold Brew Company (Canada), Starbucks Corporation (US), Sandows London Limited (UK), Nestlé S.A. (Switzerland), Califia Farms LP (US), JAB Holding Company (Luxembourg), High Brew Coffee (US), KonaRed Corp (US), Slingshot Coffee Co. (US), and Seaworth Coffee Co. (US).
Regional Overview
The regional appraisal of the cold brew coffee market consists of North America, Asia Pacific, Europe, Middle East and Africa. The North American cold brew coffee market is anticipated to establish a dominant stake during the forecast period. The US and Mexican national markets are among the major suppliers to the growth of the cold brew coffee market. The Asia Pacific cold brew coffee market share is estimated to gain a prominent share globally through the forecast period. The national markets in India and China are projected to constitute a central share of the market in the forecast period. The significant manufacturers in the European region are intensifying their selections by presenting cold brew coffees charged with nitrogen to capture a larger end user base. This, in turn, is extensively driving the development of the cold brew coffee market in the region.
Industry Updates:
May 2021 Rage Coffee, a Delhi-based FMCG coffee business that markets, produces, and distributes advanced packaged coffee products, has introduced two new products, Ground Coffee and Cold Brew Bags. While the brand's Cold Brew Bags is offered in 5 diverse flavors, Rage's Ground Coffee is accessible in many grind sizes, counting French Press, South Indian Filter Press, Pour Over, Moka Pot, Drip Machine, Aeropress, and Home Stainer. The brand also presents its grinds in 4 blends, i.e., Vita Blend, Rise Blend, Soul Blend, and OG Blend.
May 2021 Haagen-Dazs Shoppe Company Inc has declared the promotion of its Coffee Collection line of brews and ice creams, introducing a new Chameleon Cold-Brew Float served only at Häagen-Dazs Shops. The Häagen-Dazs Chameleon Cold-Brew Float, advanced in collaboration with the Chameleon Organic Coffee Team, highlights a select canned Chameleon Cold-Brew Tripleshot Black Coffee dispensed over two measures of classic Häagen-Dazs Vanilla ice cream, bettered with a rich, beaten cold foam for a supreme summer pick-me-up. Chameleon Cold-Brew Tripleshot Black Coffee is a skillfully made cold drink with a triple shot of caffeine from specialty, organic, green coffee. The float can also be modified with any ice cream flavors offered at the Häagen-Dazs Shops.
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