The global honey wine market size is
expected to reach USD 817.03 million by 2025, according to a new report by Grand
View Research, Inc. The market is projected to register a CAGR of 10.41% over
the forecast period. Demand for flavored wines is expected to be among the key
factors driving the market. Increased consumer purchasing power, especially in
developing countries like China, is anticipated to drive the product demand
further.
Moreover, demand for
sparkling wine and antioxidant beverages is estimated to drive the product
demand. In addition, rising number of meaderies in developed countries will
support the overall market growth. Positive impact of e-commerce channels and
social media will also provide growth opportunities to the market. Europe is
anticipated to be the largest regional market due to high product demand in
countries, such as France, Italy, and U.K.
Moreover, presence of
several leading manufacturers in the region and constant product launches by
them are expected to propel the growth. Major companies are investing in
R&D and capacity expansion to gain a higher industry share. For instance,
in November 2018, Gosnell’s launched a Vintage Mead. They also focus on M&A
and online sales for business expansion.
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click the link below:
https://www.grandviewresearch.com/industry-analysis/honey-wine-market
https://www.grandviewresearch.com/industry-analysis/honey-wine-market
Further key findings from the study suggest:
· In terms of revenue, spices product segment
is projected to ascend at the fastest CAGR of 12.12% over the forecast period
· Off-trade channel of distribution led the
global honey wine market in 2018 and accounted for an overall share of more
than 70%
· Europe was the dominant regional market in
2018 and is projected to expand further at a steady CAGR over the next few
years
· Key companies in this market are Redstone,
Brothers Drake, Medovina Meadery, Kuhnhenn Brewing Co. LLC, and Schramm’s Mead
· These companies focus on new product
development and capacity and business expansion to gain competitive edge
Grand View Research has
segmented the global honey wine market on the basis of product, distribution
channel, and region:
Honey Wine Product Outlook (Revenue, USD Million, 2015 -
2025)
·
Fruits
·
Spices
·
Herbs
·
Others
Honey Wine Distribution Channel Outlook (Revenue, USD
Million, 2015 - 2025)
·
On trade
·
Off trade
Honey Wine Regional Outlook (Revenue, USD Million, 2015 -
2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.