Craft Beer Rides the Wave of Success
The dynamic nature of spending habits of millennials across the globe has resulted in a booming demand for mead beverages. The ancient art of making fermented, alcoholic beverages, mead-based drinks have opened up a multi-billion-dollar industry over the past decade. A wide range of flavours available is predominantly driving the growth of global mead beverages market. As these mead-based beverages provide consumers with a choice, they are likely to continue attracting a sizeable consumer mass. From sweet to tangy, still to sparkling, bitter and much more, demand for mead beverages has been an insatiable one recently, which indicates a huge opportunity in mead beverages market. A mushrooming number of microbreweries through restaurants from across the globe have encroached and are quietly eating into the share of cocktails. Fairfield Market Research foresees that as mead-beverages would take the lead anytime soon, mead beverages market will be ripe for the right investments that deliver whopping returns.
Mead Beverages Take over Restaurant Menus, Leaving Cocktails Behind
The strengthening trend of concocting mead brews with a wide range of flavours ranging from fruits, and spices has opened a completely new palate for appreciation. Out of the many flavours, melomel mead is expected to represent a comparatively higher value share followed by traditional mead in mead beverages market. Consumers from across the globe are now becoming more conscious about what they are consuming, especially the processed food and beverages. Products comprising natural flavours, and fragrances are gaining traction as making healthy choices, while enjoying indulgent food and beverages is an intensifying sentiment amongst the spendthrift urbanites. Melomel mead comprises exotic fruits for creating enriched flavours. This has allowed breweries to tap into millennials. Players are projected to tap into this business strategy to make a mark in the thriving mead beverages market space. This can be observed especially in the case of budding microbreweries.
Given the growing inclination of millennials toward dining out and consuming mead that are freshly produced, the segment off-trade is estimated to register the largest value share of more than 80%. However, on-trade is expected to register the highest CAGR in mead beverages market during the forecast period. In addition to the rising awareness about mead beverages through social groups, increasing appearance of mead beverages on restaurants menus will fuel the growth of mead beverages market in future. Moreover, soaring demand for gluten-free food and beverages, and health products that offer additional nutritional benefits is further expected to fuel mead beverages market growth.
The US Tops Charts as Meaderies, and Microbreweries Become a Raging Phenomenon
North America is estimated to occupy the largest value share on the pie. The US alone is estimated to account for more than 60% of value share in mead beverages market. A growing number of meaderies across the country is expected to fuel the market growth during the forecast period. For instance, according to the American Meadmakers Association, in 2015, the total number of meaderies in the US stood at approximately 275, which increased to 300 within just a year, i.e., in 2016. This number has seen 9.1% annual growth and in 2017, the total number of meaderies reached 420, showcasing 40% growth over the previous year. On the other hand, Asia Pacific is projected to register the highest CAGR during the forecast period. India is expected to provide a favourable ground to mead beverages market on account of the escalating rate of consumption of flavoured alcoholic beverages by millennials.
Brewery Expansion to Remain Key Trend Among Players
Some of the major players that would be profiled in the report, include Schramm's Mead, Superstition Meadery, Redstone, Brothers Drake, Medovina, Tallgrass Mead, Beecraft Mead, Moonshine Meadery, PasiekaJaros, Moniac Mead, and B Nektar. Expanding year-over-year production capacity remains one of the key trends pertaining to mead beverages market. For instance, Superstition Meadery produced 300 gallons/year in 2012 and in 2017, the company increased its production to 20,000 gallons. It also announced to double its production to 100,000 gallons from 2018 to 2019.
The Mead Beverages Market has been Segmented as below:
By Product Type
By Distribution Channel
Key Elements Included In The Study: Global Mead Beverages Market
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