In 2021, nitro-infused beverages contribute $69.17 million, and it is projected to generate $366.07 million in revenue in 2030, advancing at a rate of 20.3% from 2021 to 2030. It is attributed to the increasing demand for nitro-infused beverages which includes changing consumer preferences, high demand for newly launched products, and growing disposable income of the population.
In addition, customers are required to pay extra for flavored and textured products. Thus, the rising customer preference for these products drives the demand for nitro-infused drinks.
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| Nitro-Infused Beverages Market Size and Share Analysis Forecast to 2030 |
North America captures the largest share of the industry. Europe and the regional industry of North America are predicted to experience rapid growth in the near future. It is ascribed to the presence of key industry players and increased investments in the R&D operations of the company. Along with this, the companies are focusing on launching new products to stay on the competitive edge.
In addition, APAC witnesses the fastest growth in the industry. The regional sector is in the initial stage, holding a vast potential for future growth. Companies operating in the nitro-infused drinks industry are focusing on expanding themselves in the region with increased investments. For example, both McDonald's and Starbucks based in the U.S., have entered the APAC to geographically expand themselves and increase their consumer base.
Under the product type segment, coffee captures a significant share of the industry, and it is projected to rise at a rate of 20.7% in the coming years. The use of nitrogen provides the coffee with a thick and creamy texture, along with creating a thick frothy head similar to beer. Moreover, nitrogen gas also reduces acidity and bitterness in coffee. It makes it more appealing for non-coffee drinkers.
Furthermore, the nitro-based soft drinks demand is projected to grow at a significant rate, of 20.9%, in the coming future. It is led by rising soft drink consumption in both emerging and developed economies. It leads to increasing demand for cold brew, and surging buying power of consumers across the world.
Moreover, the usage of nitrogen is rising in the field of mixology. The infusion of nitrogen in the beverages enhances the aromatics and consistency of the beverages. In addition, nitrogen gas is used as a substitute for carbon dioxide, and it offers soft drinks with fizz and numerous other benefits, more specifically for individuals that are likely to suffer from bloating, IBS, or heartburn.
The rising demand for the ready-to-drink beverage in all regions, more specifically in Europe and North America, and other emerging economies. For canned beverages, the demand for low alcohol volume, and low-calorie offerings is higher.
Moreover, the natural ingredients and sophisticated flavors, along with social media-friendly brand identities help in customizing the ready-to-drink beverages into health-conscious diets.
The major companies operating in the industry are Caveman Coffee Co., Nitro Beverage Co., Starbucks Corporation, Monster Energy Company, Left Hand Brewing Co., Rise Brewing Co., and Quivr.
Therefore, the increased investments in the research & development operations, along with the shifting rising disposable income of the population boosts the industry growth.
