Nestlé and Starbucks have jointly launched Starbucks Coffee Craft concentrate, a premium concentrated coffee made with high-quality arabica beans that is said to deliver Starbucks’ signature taste. The coffee industry giants aim to reach more consumers and drive sales growth in the growing cold coffee market with this new product. The launch comes at a time of flux for the coffee industry. Although the global coffee bean supply is currently strong, the Middle East conflict is making the commodity more expensive to transport and produce. Longer term, climate-related weather patterns are expected to push coffee prices higher across the supply chain. This industry-wide uncertainty is encouraging companies to expand across product formats and channels to diversify their portfolios and mitigate market uncertainty. Industry consolidation has ramped up, notably Keurig Dr Pepper’s recent US$18 billion JDE Peet’s acquisition, which is expected to drive innovation across coffee formats. ...