The global mead beverages market has been carving a niche for itself as consumer choices and dietary preferences change. Fairfield Market Research predicts that the demand for mead will be determined by the expanding and flourishing pubbing culture in the Eastern part of the world. A definite change in the socio-cultural norms of the younger generations that shadow the Western counterpart is expected to bring good business to the global mead beverages market between 2021 and 2025. Changing perception towards alcohol consumption remains the fulcrum that is to tip the balance in the favour of the global mead beverages market.
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Introduction of Variety of Flavours to Mead Beverages Spoils Consumer for Choice
Fairfield Market Research’s careful observation and analysis highlight that the introduction of new flavours will bode well for the global mead beverages market in the coming years. Sweet, sparkly, fruity, and tangy are some of the broad range of flavours being added to mead beverages on retail shelves. A wider choice appealing to a wider population base has given the global mead beverages market an incredible impetus. These flavours have been quick in attracting a younger demographic by creating a tastier option for hard liquor.
Menus at Pubs and Restaurants Give Mead Beverages a Leverage Over other Drinks
A growing number of meadries are tying up with pubs and restaurants to sell beverages, adding to the variety of alcohol stock. This has given the mead beverages higher visibility and a bigger clientele. Furthermore, direct tie-ups with retailers reduces the bottling costs for many, eliminating part of the capex, which be directed towards marketing. Several pubs and restaurants have been significant in boosting the sales of mead beverages with offers such as happy hours. The mushrooming hospitality industry, especially in developing economies is expected to boost the mead beverages market in the forthcoming years.
Millennials and Generation Z Keep Mead Beverages Market Buoyant Despite Lockdowns
While the COVID-19 hit the hospitality industry hard, the restaurants were quick to adapt to the stringent lockdowns. The COVID-19 spread brought activities such as pubbing and dining out to a halt, taking away a fair share of business for the mead beverages players also. However, quick adaption to the situation with online deliveries, home deliveries through sales partners, and alcohol deliveries through restaurants have kept players relevant to the market. The demand has been fuelled by millennials and Generation Z with disposable incomes. As countries ride the sinusoidal wave of the pandemic, the global mead beverages market is expected to experience shifts in its earnings as well.
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North America Leads Global Mead Beverages Market with U.S. Paving the Way
According to Fairfield Market Research, the U.S. is expected to lead with a growing number of micro-meaderies and microbreweries. The report anticipates the U.S. alone will occupy a 60% share in the global market by the end of 2025. American Meadmakers Association states that in 2015 there were 275 meaderies in the U.S., which jumped to 300 in 2016. As the trend continues, the North America mead beverages market is anticipated to be the leading one.
Asia Pacific too is expected to make a significant contribution as India witnesses a rise in its hospitality industry. Strongly dominated by millennials, the market will be driven by changing preferences of recreation and consumption.
Global Mead Beverages Market: Key Players
Some of the key players studied in the global mead beverages market research report are Moonshine Meadery, Schramm’s Mead, Redstone, Brothers Drake, Superstition Meadery, Medovina, Tallgrass Mead, PasiekaJaros, Beecraft Mead, B Nektar, and Moniac Mead among others.
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