The global mead beverages market size was USD 432.4 million in 2020. The market size is expected to rise from USD 487.9 million in 2021 to USD 1,621.0 by 2028 at a CAGR of 18.71% during the forecast period of 2021-2028. Fortune Business Insights™ publishes this information in a report titled, “Mead Beverages Market, 2021-2028”. As per the report, the global market is expected to rise during the projected period, owing to increasing development of meaderies globally.
Mead is a fermented beverage acquiring flavors from fruit, spices, grains, or hops. The mead is considered a healthier beverage compared to wine and beer. The content of alcohol is comparatively less in the mead. Rising demand for non-alcoholic beverages is likely to boost the market growth during the forecast period. The development of meaderies in segmented regions is expected to increase these beverages’ production and consumption rate.
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List of Key Players Profiled in Market Report for Mead Beverages:
- Tallgrass Mead (Canada)
- Moonlight Meadery (U.S.)
- Nektarmeadery (U.S.)
- Bunratty (Ireland)
- Charm City Meadworks (U.S.)
- PasiekaJaros (Poland)
- Redstone Meadery (U.S.)
- Schramm’s Mead (U.S.)
- Superstition Meadery (U.S.)
- Meadery of the Rockies (U.S.)
Segments:
Fruit Mead Dominates Market Due to Authenticity of Flavors
By type, the market is bifurcated into fruit mead and traditional mead.
Based on distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, online sales channels, and others.
By region, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Regional Insights:
Europe Holds Highest Position Due to High Demand in Developing Countries
Europe is expected to dominate the global mead beverages market share during the forecast period, owing to increasing demand for wine and low alcoholic beverages. The region stood at USD 183.56 million in 2020 due to the rising development of meaderies in the region.
North America holds the second-largest global market share due to the presence of major key players in the industry. Innovation and high export rate of beverages are expected to fuel the market in the coming years.
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Report Coverage:
The report shares complete information and statistical data about market development and industry trends. Also, drivers and restraints affecting market development are highlighted further in this report. The impact of the COVID-19 pandemic on market expansion and business globalization is elaborated further. Business strategies adopted by major key players in the market are discussed along with the competitive environment globally.
Drivers & Restraints:
Developing Meaderies Globally to Stimulate Market Growth
The market is expected to rise during the projected period, owing to the growing trend of low or no alcohol consumption. Also, developing meaderies across the segmented regions are expected to bolster market growth. Furthermore, consumers tend to shift toward wine, and avoiding alcoholic drinks is anticipated to propel growth. These factors are expected to ensure mead beverages market growth in the coming years.
However, high cost of mead production may hamper the market growth during the projected period.
Competitive Landscape:
Strategic Alliances Allows Key Players to Expand Business Globally
Key players in the market implement various business development strategies such as partnerships, mergers, acquisitions, and form alliances. These strategies allow companies to expand their business reach. Furthermore, innovation management ensures enhancing the company’s product portfolio.
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Industry Developments:
- July 2021: Second City Meadery opened Albany Park Tasting Room for customers. Second City Meadery is its second meadery tasting room and only meadery on the North Side. The tasting room features a bar with eight stools, three standing tables, and two long tables with barstools at them. It has board games and is pet and family-friendly.
- May 2020: Moonshine, India’s first Mead brand, launched salted kokum mead. It is a fruit mead made of Kokum, a small fruit primarily grown in the Western Ghats of Maharashtra.
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