SAN FRANCISCO, June 9, 2021 /PRNewswire/ -- The global sparkling coffee market size is expected to reach USD 1.4 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 13.0% from 2021 to 2028. The high consumption of coffee across Europe and North America has been driving the market. Furthermore, increasing preference for convenient ready-to-drink (RTD) beverages has been boosting the sales of RTD coffee over the world.
Key suggestions from the report:
By product, the decaffeinated segment is expected to register the fastest growth rate of 13.4% from 2021 to 2028
The online distribution channel segment is expected to register the fastest CAGR of 13.7% from 2021 to 2028 owing to the increasing adoption of e-commerce among the young consumers
North America held the largest share of more than 45.0% in 2020 owing to the presence of several companies in the region
The caffeinated product segment held the largest share of more than 80.0% in 2020
With the rise in demand for healthier alternatives to soda and carbonated options, without compromising on the taste and texture of carbonation, sparkling coffee witnesses an increased demand globally. Consumers are looking for good alternatives that can help reduce their intake of added sugar while also receive some additional health benefits. This trend is foreseen to remain prevalent over the forecast period and provide the market with numerous growth opportunities.
The caffeinated product segment dominated the market with more than 80.0% share in 2020. The growing demand for healthy energy drinks due to the rising concerns over personal health and wellness is anticipated to boost the growth of this segment. Caffeine in drinks helps in increasing alertness and concentration throughout the day. Moreover, the introduction of new flavors along with caffeine is expected to drive the demand for these products.
Major players in the market for sparkling coffee have significant reach in hypermarket and supermarket, grocery, convenience, and other local stores as customers are developing interest to try new coffee trends in such convenient places. Local liquor stores also sell the drink in some countries. For Instance, in the U.S., sparkling coffee offered by DrinkVIVIC is available in Big Mac's Liquor, Lawlers Liquors, and M&B Liquors. The growing niche market of sparkling coffee has been attracting new players, and hence competition has been intensifying over the last few years.
Grand View Research has segmented the global sparkling coffee market on the basis of product, distribution channel, and region:
Sparkling Coffee Product Outlook (Revenue, USD Million, 2016 - 2028)
Sparkling Coffee Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
Hypermarket & Supermarket
Sparkling Coffee Regional Outlook (Revenue, USD Million, 2016 - 2028)
Sparkling Water Market–The global sparkling water market size was valued at USD 29.71 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.6% from 2021 to 2028.
Caffeinated Beverage Market–The global caffeinated beverage market size was valued at USD 202.63 billion in 2018. The market is estimated to expand at a CAGR of 6.81% from 2019 to 2025.
Cold Brew Coffee Market–The global cold brew coffee market size was valued at USD 339.7 million in 2018 and is expected to register a CAGR of 25.1% from 2019 to 2025.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.