The global honey wine marketsize is expected to reach USD 817.03 million by 2025, according to a new report by Grand View Research, Inc. The market is projected to register a CAGR of 10.41% over the forecast period. Demand for flavored wines is expected to be among the key factors driving the market. Increased consumer purchasing power, especially in developing countries like China, is anticipated to drive the product demand further.
Moreover, demand for sparkling wine and antioxidant beverages is estimated to drive the product demand. In addition, rising number of meaderies in developed countries will support the overall market growth. Positive impact of e-commerce channels and social media will also provide growth opportunities to the market. Europe is anticipated to be the largest regional market due to high product demand in countries, such as France, Italy, and U.K.
Moreover, presence of several leading manufacturers in the region and constant product launches by them are expected to propel the growth. Major companies are investing in R&D and capacity expansion to gain a higher industry share. For instance, in November 2018, Gosnell’s launched a Vintage Mead. They also focus on M&A and online sales for business expansion.
Honey Wine Market Report Highlights
• In terms of revenue, spices product segment is projected to ascend at the fastest CAGR of 12.12% over the forecast period
• Off-trade channel of distribution led the global honey wine market in 2018 and accounted for an overall share of more than 70%
• Europe was the dominant regional market in 2018 and is projected to expand further at a steady CAGR over the next few years
• Key companies in this market are Redstone, Brothers Drake, Medovina Meadery, Kuhnhenn Brewing Co. LLC, and Schramm’s Mead.
• These companies focus on new product development and capacity and business expansion to gain competitive edge.
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Honey Wine Market Segmentation
Grand View Research has segmented the global honey wine market on the basis of product, distribution channel, and region:
Honey Wine Product Outlook (Revenue, USD Million, 2015 – 2025)
Honey Wine Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
• On trade
• Off trade
Honey Wine Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central and South America
• Middle East & Africa
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About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
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