PUBLISHER: SkyQuest | PRODUCT CODE: 1213663
PUBLISHER: SkyQuest | PRODUCT CODE: 1213663
Global Mead Market was valued at USD 475.2 million in 2021, and it is expected to reach a value of USD 1628.3 million by 2028, at a CAGR of more than 11.21% over the forecast period (2022-2028).
A fermented drink called mead can taste like fruit, spices, grains, or hops. Compared to wine and beer, mead is regarded as a healthier beverage. The mead has a somewhat lower alcohol concentration. During the anticipated period, increasing demand for non-alcoholic beverages is predicted to fuel market expansion. It is anticipated that the growth of meaderies in specific geographic areas would enhance the production and consumption of these alcoholic beverages.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global mead market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
Global Mead Market is segmented based on the Product, Distribution Channel, and region. Based on the Product, the global market is segmented as Herbs, Spices, and Flavours. Based on Distribution Channel, the global market is segmented as On-Trade and Off-Trade. Based on Region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Driver
Due to the rising trend of minimal or no alcohol consumption, the market is anticipated to develop throughout the anticipated period. Additionally, expanding meaderies throughout the categorized regions are anticipated to support market expansion. Additionally, people are moving more toward wine, and avoiding alcoholic beverages is expected to drive growth. In the upcoming years, market growth for mead is anticipated as a result of these factors.
Restraint
Although the beekeeping industry is growing very well, there are still substantial issues that need to be tackled. Each hive has been producing less honey on average since around the year 2000. One of the many potential causes of this is the increased frequency of extreme weather events due to climate change. Another reasonable and currently more important explanation is the removal of "forage supplies," which are necessary to give the bees food. Mead contains 12-20% alcohol; excessive consumption may cause liver damage. Due to the presence of sugar content in honey that may create loose stool troubles, may elevate glycated hemoglobin levels, and may cause other adverse effects, excessive intake of mead may induce diabetes and diarrhea. This acts as a restraint against market expansion.
Market Trends
Mead is once more available on menus. One of the reasons is the beverage's attraction to fans of shows like Game of Thrones and Vikings. This combination of events has led to the widespread availability and popularity of mead as a beverage. More and more businesses are now obtaining mead from surrounding breweries and searching for small batches of the beverage in an effort to draw customers.