Market Overview:
Nitro-infused drinks can be identified by the presence of nitrogen gas, which gives the drink a distinct texture and flavor. Tiny bubbles are formed by adding nitrogen gas at high pressure, resulting in a creamy and velvety feeling. This method is widely used with coffee, tea, and beer beverages. Nitro coffee, in particular, has grown in popularity as a consequence of its nitrogen infusion, which increases the natural sweetness of the coffee while decreasing its harshness, resulting in a more harmonic and balanced taste experience.
Top Key Players for Nitro-Infused Beverages Market:
"Stumptown Coffee Roasters (US), RISE Brewing Co. (US), Sandows Coffee Limited (UK), Black Medicine Coffee Co (Scotland), JOJO's Chocolate (US), Hopewell Brewing Co. (US), Caveman Coffee Co. (US), Wandering Bear Coffee (US), La Colombe Coffee Roasters (US), Rishi Tea (US), The Alchemist Brewery (US), Bona Fide Brewing Company (US), Madrinas Coffee (US), Chameleon Cold-Brew (US), Lucky Jack Nitro Cold Brew Coffee (US), Rishi Tea & Botanicals (US), Joe's Nitro Coffee (US), Raaka Chocolate (US), Rumble Beverage Company (Canada), Station Cold Brew Coffee Company (Canada) and Other Major Players."
Market Dynamics and Factors for Nitro-Infused Beverages Market:
Drivers:
Increasing Demand for Unique and Innovative Beverages
The nitro-infused beverages market is experiencing growth and gaining popularity due to the increasing demand for unique and innovative beverages. Nitro-infused beverages offer a distinct creamy and velvety texture that sets them apart from traditional carbonated drinks. This unique mouthfeel creates a more indulgent and enjoyable drinking experience, appealing to consumers seeking novel sensory experiences. Nitrogen infusion can enhance the flavor profiles of various beverages. In the case of nitro coffee, for example, the nitrogen gas reduces the perception of bitterness and acidity while enhancing the natural sweetness, resulting in a smoother and more balanced taste. This flavor enhancement appeals to consumers looking for a more refined and enjoyable beverage experience.
Opportunities:
Rising Expenditure Capacities of Consumers
The rising expenditure capacities of consumers present a significant opportunity for the nitro-infused beverages market. As consumers' disposable incomes increase, they are more willing to spend on unique, premium beverages that offer an enhanced drinking experience. Nitro-infused beverages are often positioned as premium products due to their unique texture, flavor, and visual appeal. As consumers have more discretionary income, they are willing to pay a premium for these specialty beverages, contributing to market growth. Consumers with greater disposable incomes are more prone to seek out innovative and luxurious experiences, making them an ideal target market for nitro-infused beverages.
Segmentation Analysis of the Nitro-Infused Beverages Market:
By Product Type, the nitro coffee segment held the largest revenue share 2021. The increasing consumption of ready-to-drink coffee across the globe is accelerating industry growth. Moreover, the rising adoption of modern values and lifestyles is expected to accelerate industry growth. With the rising popularity of cold brew coffee in developing economies, companies are expanding their product offerings to attract consumers around the world.
By Distribution Channel, the supermarkets/hypermarkets segment held the largest revenue share in 2021. The growing consumers’ preference for hypermarkets and supermarkets for buying consumer goods, grocery, and beverage products, where they can physically verify product quality is accelerating the industry growth.
Regional Analysis of the Nitro-Infused Beverages Market:
The beverage market in Asia Pacific is immense and fast increasing. Population expansion, urbanization, and rising disposable incomes are boosting demand for a wide range of beverages, including nitro-infused choices. Asia Pacific consumers are increasingly searching for novel and one-of-a-kind drinks to enhance their drinking experiences. Nitro-infused drinks, with their creamy texture, aesthetic appeal, and increased flavours, are perfectly suited to these changing consumer tastes.
Key Industry Development:
In April 2023, Logan Square Skate Park Overhaul Got a Boost as Revolution, Hopewell Brew ‘Logan Export’ Lager Raised Cash. Logan Export is a lager created by Hopewell and Revolution breweries. Sales supported a $1.7 million effort to revamp the dilapidated Logan Boulevard skate park.
In March 2022, New York-based coffee brand Wandering Bear announced that it has raised a $5 million funding round backed by existing investors. The new capital arrived as the company seeks to scale its online e-commerce business, which has become its main focus following a post-pandemic pivot.
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