According to a recently released market research report, the global nitro-infused beverages market size is increasing and by 2030 will expand at a compounded annual growth rate of over 20% to just under $400 million mark.
Owing to increased consumption of ready-to-drink beverages across the world, the nitro-infused beverages market is seeing an uptick with some of the major beverages being nitro coffee, nitro tea, nitro soft drinks, and other such 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.
More and more companies are pumping investment $$ in the nitro-infused soft drinks market thereby accelerating the new flavored drinks market. 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 propel the 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.