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Nitro-infused beverages were first introduced in the market in the early 2010s. The market is still in the nascent stage, and there is a huge potential for growth in the coming years. The appeal of nitro nitro-infused drinks is three-fold as they have a textural appeal, a taste appeal, and a visual appeal. With increasing research and development activities, there are other beverages that are being experimented with nitro-infusion, such as cocktails and smoothies.
Global Nitro-Infused Beverages Industry Overview
The global nitro-infused beverages market is expected to reach $48.50 million by 2026, with a CAGR of 21.66% during the forecast period 2021-2026. High growth in the market is expected to be driven by the fact that infusion of nitrogen greatly improves the taste and texture of the beverage. Moreover, with the increase in disposable income, there is expected to be a further surge in demand for nitro-infused beverages. Consumption of nitro-infused beverages also helps reduce sugar intake, and it does not require any additional sugar. Infusion of nitrogen adds a tinge of sweetness to the drink, thereby reducing the requirement for additional sugar. A major factor driving the nitro-infused beverages market is the change in consumer preference and the growing demand for newer products in the market. Consumers are willing to spend the extra dime for the premium taste and mouthfeel of the product.
Impact of COVID-19 on Global Nitro-Infused Beverages Market
The supply chain of the majority of the industries across the globe got impacted due to the COVID-19 pandemic, including the nitro-infused beverages market. Economic slowdown, job losses, and a lot of uncertainties related to the next paycheck did affect the sales of nitro-infused beverages. However, the sales of nitro-infused beverages remained stable owing to a surge in online sales. E-commerce played a major role in ensuring the delivery of products to consumers’ doorstep. Moreover, supermarkets/hypermarkets, specialty stores, and convenience stores started offering their products online, ensuring that consumers don’t run out of their day-to-day products.
Market Segmentation
The global nitro-infused beverages market is dominated by supermarkets/hypermarkets. Supermarkets/hypermarkets carry different products by various brands, all under one roof, making it convenient for the consumers to shop for their daily needs. Existing, as well as newer brands, are looking to increase their shelf presence in the supermarkets/hypermarkets as they garner more footfalls in comparison to specialty and convenience stores.
The global nitro-infused beverages market based on product type is dominated by coffee. This dominance is due to the growing consumer preference for coffee over any other beverage. Nitro-infused coffee is usually made from cold brew coffee which is then infused with nitrogen gas. One of the key benefits of nitro-infused coffee is that it contains more than 30?ffeine in comparison to regular drip coffee.
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