Global Ginger Beer Market - 2022-2029

Global Ginger Beer Market - 2022-2029

Market Overview

The global ginger beer market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Ginger Beer is a cloudy, naturally sweetened and carbonated beverage. It can be both alcoholic and non-alcoholic. It's made by combining prepared ginger spice, yeast, ginger root/syrup, and sugar in a natural fermentation process. Ginger beer is frequently confused with ginger ale. On the one hand, ginger beer is fermented, whereas ginger ale is flavored with carbonated water. Because of its numerous health benefits, it is classified as a non-alcoholic beverage. In addition, it can be both organic and inorganic. Over the projected period, the market is expected to be driven by consumer demand for low-alcohol flavored drinks. Furthermore, the product's premiumization in terms of tastes, taste, quality, and package design would fit well with the developing trend.

Market Dynamics:

Increasing awareness of the health benefits of ginger

Ginger beer is becoming increasingly popular. The primary reason for this is the health benefits that ginger beer provides. Ginger beer is a popular drink among customers since it is healthy and delicious. In addition, the global market for ginger beer is being driven by people's shifting attitudes away from high-calorie beverages and toward lighter, less sweet drinks. Ginger does not include any protein or other nutrients. However, it is high in antioxidants. The body accumulates too many free radicals can cause oxidative stress. Toxic molecules created by metabolism and other processes are known as free radicals.

Free radicals can cause cellular damage when they pile up in the body, leading to diseases like rheumatoid arthritis, heart attacks, chronic inflammation, and cancer. Antioxidants in the diet can aid the body's elimination of free radicals. Ginger does not include any protein or other nutrients. However, it is high in antioxidants. The body accumulates too many free radicals can cause oxidative stress. Toxic molecules created by metabolism and other processes are known as free radicals. Free radicals can cause cellular damage when they pile up in the body, leading to diseases like rheumatoid arthritis, heart attacks, chronic inflammation, and cancer. Antioxidants in the diet can aid the body's elimination of free radicals.

However, the global ginger beer market is restrained by stringent laws and limits imposed by governments worldwide on the production of ginger beer due to the negative effects of artificial chemicals and added sugar used in the production of ginger beer.

Market Segmentation:

Non-Alcoholic segment held highest share in global ginger beer market

In 2021, the non-alcoholic segment had the highest revenue share of more than XX percent, likely to continue throughout the forecast period. The growing trend among consumers to reduce the amount of alcohol in their beverages and drinks is predicted to boost the segment's growth. As a result of the trend, manufacturers are offering non-alcoholic beverages with a variety of health benefits. For example, Sobah, a craft beer brand, debuted a non-alcoholic craft ginger beer in December 2020. The product claims to contain aromatic hops and boab nut pulp, as well as being high in vitamin C.

In 2021, the flavored sector had the highest revenue share of more than XX percent, which is likely to continue throughout the forecast period. The increased use of ginger beer in recreational drinks like cocktails and mules will bolster the segment's year-over-year growth in the next years. The revitalizing, snappy flavour of ginger beer cocktails, combined with a hint of spice, has prompted restaurants, taverns, and clubs to add these beverages to their menus to expand their product choices.

Geographical Penetration:

North-America is the dominating region during the forecast period

In 2021, North America had the highest revenue share of almost XX percent. Product demand is projected to be driven by consumers' growing awareness of health and wellness in the region. Compared to other countries in the region, the United States has a high level of consumption. Key brand relationships with a variety of manufacturers will assist the company in developing new goods and expanding its market share. For example, Reed's Inc., America's ginger beer brand, teamed up with Full Sail Brewing Co. to release a ready-to-drink mule with a real ginger kick in January 2020.

In the projection period, Asia Pacific is expected to have the highest CAGR of XX percent. Consumer lives are changing, and consumers in emerging nations are adopting recreational beverages, fueling demand for low-alcohol products, which is projected to drive the market in this area. Furthermore, established and new product manufacturers in the region, such as Fentimans and Rita, and expanding infrastructure facilities for retailers are projected to assist the market's expansion.

Competitive Landscape:

The market is fragmented, with numerous developing main companies with major brands. To extend their consumer base and improve brand loyalty, these companies are participating in substantial acquisition and promotional operations, as well as new launches. In June 2021, T-Mobile, a mobile carrier teamed up with craft soda maker Jones Soda Co. to launch an extended range 5Ginger Beer. In February 2021, Interstellar Ginger Beer and Exploration Co. extended its brand to Montevallo, which would help the company expand to different locations.

COVID-19 Impact:

Negative impact on the global ginger beer market

The COVID-19 pandemic has had a global impact on the food and beverage industry. Many industries were shut down due to the epidemic, resulting in lower production of a variety of items, including ginger beer. According to an article released by the Multidisciplinary Digital Publishing Institute (MDPI), the beverage manufacturing industry's sales and total profit growth rates in May 2021 were 2.6 percent and 8.9 percent, respectively, compared to 2.6 percent and 8.9 percent in 2020. To meet consumer demand, merchants were obliged to restructure their supply chains, investigate private-label items, and expand their supplier networks due to market volatility created by COVID-19.

The global ginger beer market report would provide an access to approximately 61 market data tables, 52 figures and 170 pages