Cold brew is so hot right now, especially in the summertime. It also might just add a needed jolt to dropping coffee markets, according to Bloomberg.
Coffee consumption in America has slowed in general, except on the cold brew front. While total consumption in 2017-18 went up 1.5% (that’s less than last year’s rise of 4.4%), hot coffee sales went down 3%. Within the coffee category, however, cold brew consumption rose by a jaw-dropping 80% in the last year.
Jonathan Del Re, owner of Dallis Bros Coffee in Queens, New York and Lacas Coffee in Philadelphia, tells Bloomberg that it’s unusual to “have a product driving growth,” but that cold-brewed coffee is doing just that. Starbucks’ annual sales went up 25% since adding cold brew to the menu two years ago.
Because cold brew requires twice as many beans to make, the spike in sales will also encourage bean sales, which have been predicted to slow in the U.S. The trendy coffee drink is also now competing against Keurig-style coffee pods, which have contributed to the dip in bean usage.
Meanwhile, the rise of cold brew has spawned a cottage industry with competing upstart specialists like Ace Coffee Co., which told us how to make cold brew using a French press awhile back, as well as a range of home systems. It’s even popping up in craft cocktails.
Ric Rhinehart, executive director of the Specialty Coffee Association even alluded to Bloomberg that soda and other cold drinks are taking a hit due to cold brew sales.