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Mead is an alcoholic beverage made by fermenting honey, water, and sometimes added with spices and other flavours giving strong and sweet aroma. The global mead market is performing decently across the world, owing to its health benefits associated with honey. The rising preferences of consumers over broader options of flavoured alcoholic beverages are driving the global mead market. The shift of consumers from heavy and concentrated alcohol consumption to flavoured and low alcoholic beverages is expected to increase in the demand of mead during the forecast period (2019-26).
The number of new mead breweries has been opened and increased in the decade. Most of the breweries are producing their mead according to the local preferences of flavours. The manufacturers of mead are highly focused on introducing a new range of flavoured mead by the inclusion of all-natural ingredients, such as honey, water, fruits, and yeasts. The shift of consumers from high and concentrated alcohol consumption to low and flavoured alcoholic beverages is expected to increase in the mead business in the global mead market.
Key Market Driver -
Increased Demand for Premiumized, Innovative and Flavoured Alcoholic Beverages
Key Market Restraint -
High Price and Low Consumer Awareness
The increased demand for premium and fortified products in the food and beverages sector has also influenced the alcohol consumption pattern among the consumers. They are looking for premiumized and new flavoured alcoholic beverages, which results in the opening of new breweries and expansion of the mead market across the globe.
On the other hand, the manufacturers are focussing on premiumization of mead result in the high cost of the final mead beverages. The consumers in various countries are still not aware of the mead beverage, and hence, it is expected to act as a restraint in the global mead market.
There are several leading mead manufacturers that are operating in the global mead market. The manufacturers are capitalising to expand their reach to consumers by increasing product penetration across the globe. Some of the major key players are The Lancashire Mead Company, Lyme Bay Winery, St Aidan's Wines, Starrlight Mead, Medovina, B. Nektar Meadery, Kuhnhenn Brewing, Redstone Meadery, and Schramm's Mead.
Based on the product types of mead, fruit and spiced mead are the most popular mead among the consumers. Consumers are seeking for the varied taste in alcoholic beverages, which has led to an increase in the consumption of such flavoured mead over its other types. Fruit and spiced mead types also offer cyser, pyment, and Mitheglin mead, which are made up of apples and grapes, and various ingredients, such as ginger, coriander, and others. Traditional mead is made up of natural honey and water fermentation and is majorly opted by the aged and traditional people who do not want to change its original and natural taste.
The distribution channels of mead include on-trade wherein the alcoholic drinks are sold in bars, restaurants, clubs, pubs and similar channels. The off-trade distribution entails availability of craft wine among retailers, wholesalers, and online channels. The innovation and creative options offered by on-trade makes it a leading distribution channel. The growth of the HoReCa (Hotel, Restaurant, and Cafe) segment in the global marketplace is a further add-on to the growth of the on-trade distribution of mead.
North America and North Europe are one of the prominent markets for mead beverages. The growth is also expected from some developing markets in the upcoming years. The U.S. is accounted for the rapid growth in the small and independent meaderies, which are driving the local mead sales decently in the country. In 2017, According to the American Mead Makers Association (AMMA), a new meadery was opening in the market in every 3-4 days in the U.S. and every seven days across the world (excluding the U.S). The rising popularity of the premium and flavoured alcoholic beverages has led by the young population who embrace the mead revolution in the country. It is expected to increase in the sales contribution in global mead market by the region.
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The Asia Pacific is also emerging as one of the huge players in the global mead market. The consumers in countries like New Zealand and Australia are seeking mead, owing to the sensory and natural properties of honey. China and India are also expected to be the emerging countries in the region due to a robust alcohol consumption pattern. The westernization highly influences consumers, and hence adapting the mead consumption trend in the country. As a result, the emergence of small and local meaderies are increasing in the countries, which is expected to expand the mead market across the globe.
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