Factors substantiating the market growth include the increasing popularity of craft beers among youngsters and rising number of places serving these fruity beverages. Improving economic conditions are providing impetus to the market growth, increasing consumers’ purchasing power that allows consumers to spend more on their preferred beverages. Furthermore, the relaxation in the regulations pertaining to the production of fruit beers acts as a key driving force behind the market growth.
Fruit beer is a fruit flavored craft beer (an alcoholic beverage) containing fruits as a flavoring agent or additive. The market is majorly driven by the substantial investments made into RD activities to bring more novelties in the product in terms of flavor, taste attractive packaging. The unique taste of fruit beer makes it one of the most popular beverages among consumers which in turn, are supporting the market to flourish on the global platform.
Acknowledging the increasing demand, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global fruit beer market will witness exponential accruals registering a healthy CAGR during the review period (2017 – 2023).
On the other hand, factors such as the availability of various counterfeited, low-cost products floating in the market are expected to obstruct the market growth over the review period. Also, skepticism among consumers towards the claimed health benefits of fruit beers led by the ongoing debates on its benefits side effects negatively impacts the market growth.
Additionally, distribution channels are playing a vital role in the fostering the market growth to a great deal. The market penetration of the large format retail including supermarkets and hypermarkets, along with the online shopping feature, drives the market growth, especially in the developing countries. The burgeoning food and beverage industry is impacting the market growth positively.
Market Highlights
Beer fermented with fruit juice is termed as fruit beer. Growing craft beer culture across the world and changing consumer tastes are expected to contribute for growth of fruit beer. Rising popularity of craft beers and increasing numbers of microbreweries are also helping bruit beer market to grow. Taste and aroma in fruit beer is depend on the brewing process and fruit used for flavoring. Also, shift towards innovative and premium beverages contribute to growth of market. Changing shift towards sweeter and fruitier taste and flavors is helping the growth of Fruit Beer Market.
Regional Analysis
The market in Europe is expected to dominate the global fruit beer market during the forecast period. Natural fruit content in fruit beer is attracting health-conscious consumers in the European market. The North American market is expected to be the second-largest due to shift towards sweeter tastes and flavors. The market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period, owing to the increasing population and emerging craft beer culture. Regulations on alcohol production in middle east refrains growth of fruit beer. Africa has least market share owing to poor economic conditions.
Segmentation
The global fruit beer market has been segmented by flavor, distribution channel, and region.
The market, based on flavor, has been segmented into peach, raspberry, cherry, apple, apricot, and others. The market, by distribution channel, has been segmented into store-based and non- store based. One-stop shopping experience gained by the consumers is supporting the sales of fruit beer through store-based channel. However, availability of wide product variety and one click shopping experience is anticipated to surge the sales of fruit beer through non-store-based channels.
The global fruit beer market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Europe is the leading market for fruit beer, followed by North America, while Asia Pacific is expected to have the fastest growth rate.
Access Report @ https://www.marketresearchfuture.com/reports/fruit-beer-market-6315
Key Players
Some of the key players in the global fruit beer market are Joseph James Brewing Company Inc. (U.S.), New Belgium Brewing Company (U.S.), Brewery Ommegang ( U.S.), All Saints Brewing Company (U.S.), Lindemans Brewery (Belgium), and Lost Coast Brewery(U.S.) are some of the major key players.
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