The growing demand for flavored beverages is expected to aid the growth of the mead market, states Fortune Business Insights, in a report, titled “Mead Market, 2021-2028.” The market size is expected to develop gradually due to the high demand for premium and fortified products among consumers.
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The mead market report includes:
- Wide-ranging evaluation of the market
- Valuable insights into the segments
- Latest trends and important drivers
- Dominant regions
- Key Development
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Increasing Number of Breweries to Augment Growth
The increasing number of new mead breweries in developed countries is expected to accelerate the growth of the market. Most of the breweries are producing their mead as per consumer preferences of flavors. The introduction of new range of flavoured mead by the inclusion of all-natural ingredients such as honey, water, fruits, and yeasts will enable speedy expansion of the market. Furthermore, the shift of consumers from high and concentrated consumption to low and flavoured beverages is expected to aid the mead market’s development. Besides, consumption patterns of consumers for premium and fortified products is expected to further boost the mead market growth. The health benefits associated with honey is expected to uplift the mead industry. In addition, the rising preferences of consumers over broader options of flavored beverages can push growth. The demand for flavored and low drinks is expected to create opportunities. However, the high cost of the final mead beverages is expected to restrict the market’s growth. The lack of consumers in various countries can further dampen growth of the market.
The Off-trade Distribution Chanel to Dominate Market
Fruit and spiced mead are exerted to hold a significant share. Fruit and spiced mead types offer cyser, pyment, and Mitheglin mead, which are made up of apples and grapes, and various ingredients, such as ginger, coriander, and others. Traditional mead is made up of natural honey and water fermentation. It is majorly opted by the aged and traditional people who do not want to change its original and natural taste.
The distribution channels of mead include on-trade wherein the drinks are sold in bars, restaurants, clubs, pubs, and similar channels. The off-trade distribution entails the availability of craft wine among retailers, wholesalers, and online channels. The innovation and creative options offered by on-trade makes it a leading distribution channel.
Westernization and Urbanization to Back Growth in Asia Pacific
The market in North America is expected to increase rapidly during the forecast period. The Increasing number of small and independent breweries in the U.S. can aid development in the region. In 2017, According to the American Mead Makers Association (AMMA), a new meadery was being opened in every 3-4 days in the U.S. The rising popularity of the premium and flavored beverages is expected to foster growth in European countries. Asia Pacific is expected to hold the largest share in the global mead market. The consumers in countries like New Zealand and Australia are seeking mead, owing to honey’s sensory and natural properties. China and India are also expected to be emerging countries due to high consumption. Westernization and urbanization are expected to influence growth in Asia Pacific. The emergence of small and local meadows is expected to further fortify the market in Asia Pacific.
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May 2017: Lyme Bay Winery introduced four new ranges of mead/wine of different flavors with a richness of honey.
The Report Lists the Main Players Operating in the Mead Market:
- Lancashire Mead Company
- Lyme Bay Winery
- St Aidan’s Wines
- Starrlight Mead
- Nektar Meadery
- Kuhnhenn Brewing
- Redstone Meadery
- Schramm’s Mead.
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