The global nitro-infused beverages market will generate a revenue of $366.07 million in 2030, and the market size will advance at a CAGR of 20.3% between 2021 and 2030. This can be ascribed to the increasing number of consumers opting for food and beverage products that not only taste great but also promote health, the changing consumer preference for superior flavored and textured products, and the surging disposable income of people.
Based on product type, the tea category held the second-largest revenue share, of around 30%, in 2021, and it is projected to advance at a CAGR of 20.2% during the forecast period, in the market. This is because the infusion of nitrogen in tea enhances the flavor of the beverage without the need for added sugar. Nitro tea is minimal in calories since it contains no added milk, sugar, or other high-calorie additives. A 16-ounce glass of nitro-infused tea has around five calories. When steeped in tea, nitrogen gas gives a hint of sweetness without adding any more sweeteners. It is also an excellent choice for vegetarians and lactose-intolerant customers.
Furthermore, as any type of tea can be infused with nitrogen, nitro tea allows consumers to personalize their caffeine dosage. Black tea is among the most popular type of nitro-infused tea. Customers can also mix nitro tea with green tea or experiment with any other types of tea.
The online stores category is projected to grow at the highest CAGR, of 20.7%, during the forecast period. With increased smartphone usage and high-speed internet access, more people choose to purchase products online. To capitalize on this trend, food and beverage companies are teaming with e-retailers, such as Amazon and Walmart, and other e-commerce key players to provide nitro-infused beverages through online channels.
Furthermore, companies are entering the e-commerce sector by building their own websites and mobile apps. Also, these businesses are interacting with customers directly via social media sites, such as Twitter, Instagram, and Facebook. Thus, this factor is playing a significant part in boosting online sales.
China and India are the world's most populous countries, and they are working hard to accommodate public demand. Both countries are experiencing rapid economic growth and are heavily investing in sustainable development to increase their living standards. Also, the basic income of the population has grown in tandem with economic progress. As a result, there is an increasing desire for higher-quality, newer items that appeal to customers' taste senses. Thus, these factors are expected to drive the market growth in the coming years in the APAC region.
Major players operating in the nitro-infused beverages market include Nitro Beverage Co., Caveman Coffee Co., Lucky Jack Coffee, Quivr, Bona Fide Nitro Coffee and Tea, Left Hand Brewing Co., Rise Brewing Co., Starbucks Corporation, Monster Energy Company, and PepsiCo Inc,