Global Mead Beverages Market 2018-2022
About Mead Beverages
Mead is an alcoholic beverage created by fermenting honey with water, sometimes with various fruits, spices, grains, or hops. The alcoholic content ranges from about 8% to more than 20%. The defining characteristic of mead is that most of the beverage's fermentable sugar is derived from honey. It may be still, carbonated, or naturally sparkling; dry, semi-sweet, or sweet.
Technavio’s analysts forecast the global mead beverages market to grow at a CAGR of 6.80% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global mead beverages market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of mead beverages.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Mead Beverages Market 2018-2022
Technavio recognizes the following companies as the key players in the global mead beverages market: B. Nektar Meadery, Medovina, Moonlight Meadery, PASIEKA JAROS, Schramm's Mead, Tallgrass Mead
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is product innovations. The trend of product innovations is expected to influence the growth of the global mead beverages market during the forecast period. The introduction of innovative products in the market facilitates the retention of consumer interest toward the respective product. Product innovation prevents the market from reaching the maturity stage for a long period of time. Of late, new mead flavors are being introduced into the global mead beverages market. Flavors such as blueberry, blackberry, apple, orange, cranberry, and others are being offered by established market players.”
According to the report, one of the major drivers for this market is Presence of numerous untapped markets. One of the growth drivers of the global mead beverages market is the presence of numerous untapped markets in APAC and MEA. Mead beverages are gradually attaining popularity in the aforementioned geographic regions. This has resulted in the entry of new players in such markets. The existing market players have huge growth potential in APAC. The fact that APAC comprises India and China markets adds to the market potential of the region. APAC is home to numerous untapped markets. Many markets in the region hold immense potential that is yet to be utilized by the market players. Of late, new players have been entering the APAC market. Many players who have recently entered the India and China markets enjoy the early-mover advantage.
Further, the report states that one of the major factors hindering the growth of this market is Increasing price of honey. The increasing price of honey is a key challenge that hinders the growth of the global mead beverages market. As honey is the core raw material that aids in the production of mead, increased prices of honey would lead to a corresponding increase in the cost of the end-product. The global demand for honey exceeds its supply. This has contributed to the increased price of honey across the globe. One pound of honey was priced at $1.76 in 2013. The price has increased to 2.08 as of 2016.
B. Nektar Meadery, Medovina, Moonlight Meadery, PASIEKA JAROS, Schramm's Mead, Tallgrass Mead
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