Fruit Beer Market Size is Estimated to Value $379.5 Million By 2027
The global Fruit Beer Market size is expected to reach USD
379.5 million by 2027, exhibiting a CAGR of 4.5% over the forecast period,
according to a new report by Grand View Research, Inc. Growing popularity of
alcohol free beer among millennials as an occasional drink during after-office
hours and weekends is expected to remain a favorable factor for the industry
growth over the next few years.
In terms of flavor, the market is bifurcated into peach,
raspberry, cherry, apricot, and others. Raspberry flavored beer accounted for
the largest share of 29.9% in 2019 owing to high popularity of this fruit
flavor among young consumers. Cherry flavored beer is expected to expand at the
fastest CAGR of 5.1% over the forecast period owing to high popularity of this
fruit flavor among female consumers. Moreover, increasing product availability
at supermarkets and hypermarkets is expected to contribute to the segment
growth.
On-trade sales channel accounted for a share of 65.4% in
2019. Growing trend of socializing at bars, pubs, and liquor lounges owing to
availability of a variety of options is a major factor driving the sale of
fruit beer through on-trade distribution channel. Increasing number of microbreweries
across the world is also expected to drive the on-trade channel segment.
Off-trade distribution channel is expected to expand at the
fastest CAGR of 5.1% over the forecast period. Increasing product availability
at hypermarkets is a main factor driving the sales of fruit beer through
off-trade channel. Furthermore, increasing number of hypermarkets in economies,
such as India, China, and Brazil, is expected to contribute to the segment
growth.
Browse Details of
Report@ https://www.grandviewresearch.com/industry-analysis/fruit-beer-market
Fruit Beer Market Report Highlights
- In terms of
flavor, the raspberry segment was valued at USD 79.8 million in 2019. It
is expected to witness significant growth in the coming years as a result
of growing popularity of raspberry flavor among consumers
- Off-trade
distribution channel is expected to expand at the highest CAGR of 5.1%
over the forecast period. Increasing availability of the product at
affordable prices through off-trade distribution channel will boost the
segment growth
- Asia Pacific
is expected to exhibit the fastest CAGR of 6.3% from 2020 to 2027 due to
growing popularity of alcohol-free beer among the youth population of
countries, including China and India
- Key industry
players of fruit beer market include Jester King, New Glarus Brewing
Company, Allagash Brewing Company, SIREN CRAFT BREW, Founders Brewing Co.,
New Belgium Brewing Company, Anchor Brewing, The Golden Road, and SIXPOINT
BREWERY.
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
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