Honey Wine market Outlook:
Honey wine, commonly known as Mead, is an ubiquitous traditional alcoholic beverage made by fermenting honey with water, or in some cases with grains, spices, fruits, or hops. The majority of fermentable sugar of the beverage is derived from honey; this characteristic makes the honey wine stand apart from the rest of the alcoholic beverages. The alcoholic content of honey wine ranges from 3.6% ABV to more than 19% depending upon the fermentation. The market of honey wine is anticipated to increase over the forecast year owing to factors such as rising urban population, growing inclination of adolescents and millennial towards alcoholic beverages, growing cultures of bars and lounges, and other factors which tend to drive the growth of the honey wine market.
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Honey-based brew producing a real buzz in the alcoholic beverages market:
Honey wine is a popular alcoholic beverage with ancient, and mythological background and numerous stories build around. The modern-day honey wine is an attempt to re-introduce the traditional drink in the market with an aim to attract a much larger customer base all across the globe. The primary driver for the growing demand for honey wine is ever growing urban demographics. The global urban population has reached 4.03 billion in 2016 accounting for almost 54.3% of the world’s population; the increasing urban population is coupled with factors such as increasing per capita disposable income, modernization, and growing preference for alcoholic drinks which is expected to fuel the growth of alcoholic beverages market including honey wine, across the globe.
The changing lifestyles, the influence of social media and other networking sites, and increasing social gatherings and club culture are factors influencing the consumer’s inclination toward alcoholic beverage honey wine. The increasing consumers’ interest in this oldest alcoholic libation has resulted in more than 400 honey wine/mead producers in the U.S in the year 2017, up from 30 in 2003, according to the American Mead Makers Association.
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Honey Wine market: Market Segmentation
On the basis of nature, the Global Honey Wine market has been segmented as:
On the basis of product type, the Global Honey Wine market has been segmented as:
- Carbonated (Sparkling)
On the basis of variety, the Global Honey Wine market has been segmented as:
- Cyser (Mead with apples)
- Melomel (Mead with other fruits)
- Pyment (Mead with gapes)
- Metheglin (Mead with spices or herbs)
On the basis of sales channel, the Global Honey Wine market has been segmented as:
- Modern Trade
- Specialty Stores
- Convenience Stores
- Online Retailers
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Global Honey Wine market: Market Participants
The key market participants identified across the value chain of the global Honey Wine market are: The Meadery, Beecraft Mead, The Honey Wine Company, Wild Blossom Meadery & Winery, Wandering Bard Meadery, Rosewood Estates Winery & Meadery, Etowah Meadery, Martin Brothers Winery