Tata Consumer Products, the food and beverages arm of the Indian conglomerate Tata Group, introduced Tata Coffee Gold-Cold Brew. This ready-to-drink cold coffee brand has been launched in three flavours, including classic, mocha, and hazelnut.
The company plans to target consumers with different tastes and reach a broader consumer base by introducing three different flavours simultaneously. With the entry, the company aims to tap the rapidly growing demand for the cold coffee market in India, according to GlobalData, a leading data and analytics company.
Raviteja Neralla, a consumer analyst at GlobalData, said that the rapid growth of India's ready-to-drink cold coffee market was driven by a rise in the drink's popularity among young consumers. According to GlobalData's recent quarterly beverage forecast, the iced and RTD coffee drinks category's volume witnessed double-digit growth in Q1 2023.
Francis Gabriel Godad, business development manager at GlobalData India, commented that India was witnessing the rise of a coffee culture wherein young urban consumers showed more affinity for specialty, artisanal coffee.
"Underlining this trend, many coffee chains and packaged artisanal coffee brands such as Third Wave Coffee, Blue Tokai, Sleepy Owl, and Dope Coffee are expanding their presence in the Indian market rapidly," said Godad.
Tata Coffee Gold Cold Brew specifically targets these consumers with its gourmet coffee. The company claimed that these products were brewed using cold water to retain smoothness and offer a rich, rounded taste without bitterness.
Tata Consumer Products' new launch has also kept Indian consumers' growing health awareness in mind. According to GlobalData's 2023 Q1 consumer survey, 46 percent of Indian consumers are concerned about their health. This percentage grew to 49 percent among millennials in the same consumer survey. The company claimed its offering was low in sugar to cater to health-conscious consumers.
Neralla concluded that the world had been witnessing a significant rise in temperatures, and the situation in India has been no different.
The country recorded its warmest February month since 1901 in 2023. The incidence of heatwaves and significantly hot days increased in recent years.
"Amid such severe weather conditions, it's natural for coffee lovers to move towards colder versions of coffee. Tata's latest cold coffee launch also offers them the convenience of drinking coffee on the go without any additional procedures for preparation," added Neralla.
