Cold Brew: The Amazing Rise in The Coffee Industry3 min read
Through the past centuries, the coffee industry has substantially developed with the invention of numerous coffee types. Cold brew, it seems, is by far the latest trend. This is currently tremendously favored by java drinkers all over the world. It is anticipated to continue to grow in the near future.
Cold brew – Unique flavor and health benefits
Initially introduced by the Japanese in the 1600s, cold brew has just become popular for a decade. For the period of 5 years between 2010 and 2015, it dramatically rose to $7.9 million in terms of retail sales only, soaring by 339% since 2010. The mass java drinkers love cold brew for its special recipe as well as its unique flavor. Different from iced coffee which is brewed in hot water then chilled, cold brew is made with room temperature water. This results in the fresh, pleasantly sour taste and overall less bitter than most of other types of coffee. It’s suitable for a wide range of people, including ones that do not normally dig coffee.
These days, the increasing trend in customers’ health awareness has created new opportunities for healthy and natural beverages. Cold brew contains little acidic taste and has a naturally sweet flavor. Consequently, it has gained positive reactions from international consumers. In order to expand the market share, manufacturers are trying to enlarge their cold brew portfolio. They are adding new flavors and new nutritional benefits to their products. They hope their products can meet the demands of as many drinkers as possible.
Market gaps in this rising industry
In spite of the efforts of international manufacturers over the past few years, North America is still the largest producer and consumer with the market share recorded at about 73% of global market, followed by Europe. In Asian – Pacific countries, however, the low competition and little popularity of cold brew leaves numerous market gaps to penetrate. On top of this, cold brew coffee industry is forecasted to annually grow at the rate of over 27% by 2022. Although there will definitely be more substitute products in the future, cold brew stands a great chance of advancing in the F&B industry if international companies are quick to adapt and manage to meet the ever-changing demands of this specific market.
In conclusion, this drink has been widely adored by international customers. Experts believe it will gain constant success in the next few years. As long as producers are smart enough to accustom themselves to the change of the customers and the market, it is almost definitely here to win, and here to stay.