Starbucks Introduces New Cold Menu: Here Are The Details

Starbucks Corporation (NASDAQ: SBUX) announced on Tuesday a new menu, which consists of cold beverages that will become the basis of its "cold bar" of coffee and espresso products.

Starbucks' new cold menu is part of the company's commitment to gaining share in the iced beverages segment and follows a "highly successful" nationwide launch of "Cold Brew" last year. In fact, the company noted that in the fourth quarter of 2015, its sales of cold beverages rose 20 percent.

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Starbucks also noted that based on industry experts, consumption of iced coffee has grown by 75 percent over the past decade, while its Cold Brew sales grew by 338.9 percent between 2010 and 2015.

New menu items will include a cold brew coffee with hints of citrus and chocolate, a cold brew with vanilla sweet cream and a nitrogen blasted ice coffee, among others.

"For over forty years we have perfected the craft of roasting and brewing the finest hot coffee and while we have always offered our customers new options in cold coffee, nothing will compare to the pace of flavor, craft and brewing innovation we will see in the next few years," said Starbucks Chairman and CEO Howard Schultz. "The opportunity to create an entirely new cold coffee experience is limitless and our customers are already telling us that they want to meet us on this journey as cold coffee is now becoming a go-to drink."

Shares of Starbucks were trading lower by around 0.50 percent Tuesday morning.