Nitro-infused Beverages Market Growth & Trends
The global nitro-infused beverages market size is expected to reach USD 394.8 million by 2030, expanding at a CAGR of 20.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growing consumption of ready-to-drink beverages across the globe is fueling market growth. Moreover, significant changes in the beverage consumption patterns of consumers across the globe aided the industry’s growth over the last few years. Furthermore, the growing ready-to-drink culture worldwide is the key sales promoter of infused beverages such as nitro coffee, nitro tea, nitro soft drinks, and other products. Additionally, young working professionals and millennials are preferring the taste and texture of these drinks, which is anticipated to accelerate the market growth over the forecast period.
Moreover, a lockdown situation was observed during the COVID-19 outbreak, and it positively impacted the industry growth due to the increased demand for ready-to-drink products in several nations. In addition to this, the rising spending on cold beverages after the ease of several restrictions is projected to propel the industry growth over the forecast period. Additionally, the increase in online sales of beverage products during the pandemic led to market expansion around the globe.
The nitro soft drinks segment is expected to register the highest CAGR over the forecast period. The increasing adoption of premium soft drinks from the food service restaurant and millennials has significantly propelled the growth of this segment. Furthermore, the rising investment in nitro-infused soft drinks by various manufacturers due to the rising demand for new flavored drinks is accelerating the segment growth. Additionally, the growing non-alcoholic beverage consuming population around the world is projected to accelerate the market growth over the forecast period.
The online segment is expected to witness considerable growth during the forecast years. The rising attention of food and beverage businesses on implementing e-commerce technology to improve product sales is contributing to the industry growth. By utilizing the online sales platform, the nitro-infused beverage providers have chosen door-step delivery with minimal time. Furthermore, the expanding global consumer attraction toward an online platform for food and beverages shopping is leading to industry expansion over the forecast period.
North America accounted for a substantial revenue share in 2021. The growing penetration of numerous supermarkets and hypermarkets, convenience stores, and online stores for buying ready-to-drink beverages is propelling the industry growth in this region. Moreover, the rising investment in new premium product launches is anticipated to drive regional market growth. Furthermore, the expanding promotion of intro coffee and other products via social media raised the demand for nitro-infused beverages in the region. The key market players face intense competition from each other as some of them operate at several locations and have a large customer base.
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Nitro-infused Beverages Market Report Highlights
North America held the largest revenue share of over 40.0% in 2021 owing to the growing consumption of ready-to-drink beverages
The nitro soft drinks product segment is expected to register the fastest CAGR of 23.4% from 2022 to 2030 due to the rising popularity of cold brew
The supermarkets/hypermarkets distribution channel segment held the largest revenue share of over 45.0% in 2021 due to the increasing penetration of supermarkets and hypermarkets
Asia Pacific is expected to register the fastest CAGR of 22.2% from 2022 to 2030 owing to growing spending on ready-to-drink beverages
List of Key Players of the Nitro-infused Beverages Market
Rise Brewing Co.
Starbucks Corporation
Lucky Jack
Califia Farms
Caveman Coffee Co.
Left Hand Brewing Co.
Monster Energy Company
PepsiCo
Quivr
Bona Fide Nitro Coffee and Tea
Nitro Beverage Co.
Funkin Cocktails
BEANLY
East Forged
Cruise Beverages
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