Honey Wine Market: Overview
Exceptional nutritional and antimicrobial properties make honey wine one of the favorite drinks among a considerable populace. This aspect may drive the growth of the honey wine market during the forecast period of 2019-2029. Honey wine, also known as mead, is wine that’s fermented using honey. The growing influence of finely brewed wines with various infusions is bringing tremendous growth prospects for the honey wine market.
This honey wine market report analyses various factors that assist in scaling up the growth graph. Some significant factors such as key trends, mergers and acquisitions, and the geographical perspective of the honey wine market have been studied with scrutinity in this report. The stakeholders can gain extensive knowledge from this report on the honey wine market. In addition, this report also carries an analysis of the COVID-19 impact on the honey wine market.
Honey Wine Market: Competitive Landscape
The competition in the honey wine market is stiffening day by day as the numbers of meaderies across the globe are increasing at a rapid rate. In 2017, the American Mead Makers Association (AMMA) found out that during an 18-month period, a meadery was opened every three days in the U.S. and every seven days around the world. These statistics show the heightened competition in the honey wine market.
Through investing in research and development activities, the players in the honey wine market are gaining information on novel formulations that will successfully cater to the taste buds of the populace, especially among the millennials and generation-Z. These activities also offer insights into making the wine cost-effective for building a strong consumer base.
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Some prominent participants in the honey wine market are Brothers Drake Meadery, Gosnells Beverages Ltd., Kuhnhenn Brewing Co. LLC, Medovina Meadery, Redstone Meadery, and Schramm’s Mead.
Honey Wine Market: Diverse Varieties and Their Growth Contributions
The honey wine market may gain an upper hand in growth during 2019-2029 due to the varied varieties of mead available in the market. Here are some significant mead varieties that help in boosting the growth rate of the honey wine market.
Cyser: It is a blend of apple and honey together. Lyme Bay Winery recently launched the Jack Ratt Cyser mead to increase its presence among the young generation.
Acerglyn: It is a type of mead infused with maple syrup. The Kettle Ridge Farm recently entered the honey wine market and launched Delaney Jo, an acerglyn.
Bochet: In this type, honey is burned separately before adding water to create chocolate, roasted marshmellows, or toffee flavors. Two Warriors Meadery, the first meadery in the state of Louisiana, plans to launch bochet and the owners claim that it is the most-intensive recipe they make. The recipe is from the 1390s and has won much recognition.
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Honey Wine Market: Regional Analysis
The honey wine market can be geographically segmented into North America, Latin America, the Middle East and Africa, Europe and Asia Pacific. Europe may serve as the largest regional growth contributor for the honey wine market between 2019 and 2029. The growing popularity of honey wine and the escalating number of meaderies in developed countries may prove to be a significant factor of growth. North America may also gain substantial growth due to the increasing number of meaderies across the U.S.
Asia Pacific may show great potential for growth across the forecast period due to the penetration of meaderies in the region. For instance, India has its first meadery in the form of Moonshine Meadery in Maharashtra. In addition, the trend of crafted beers and wines is rapidly growing in the region and this aspect may prove to be a turning point for the growth of the honey wine market.
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