Global Honey Wine Market - 2022-2029

Global Honey Wine Market - 2022-2029

Market Overview

The global honey wine market valued USD xx million in 2021 and is forecast to reach USD xx million by 2029, growing at a CAGR of xx% during the forecast period (2022-2029).

Honey wine, commonly known as mead, is a traditional alcoholic beverage containing an alcoholic strength, by volume, between 8% and 18%, which results from the alcoholic fermentation of diluted honey by yeasts. It is a famous beverage in Eastern Europe and the Baltic states. It is also widely consumed in England, Germany, and African countries. For instance, in Portugal, mead is still homemade, produced according to the traditional and empirical procedures. Honey wine is a rich source of vitamin, mineral, protein, and antitoxins that makes it healthy for the body. In addition, it contains lactic acid, as it is responsible for decreasing the acidity of the wine and providing a smoother flavor. Moreover, it enhances immunity against antibiotic-resistant pathogens. Furthermore, it is a healthy tonic due to its potential probiotic content. One of the main reasons people drink honey wine in preference to many wines and other alcohol is that honey is gluten-free.

Market Dynamics:

The rising number of meaderies is estimated to surge the growth of the honey wine market

Rising number of meaderies, especially in the developed countries, is likely to result in the consumption of honey wine at a much faster rate in the past few years. For instance, American Mead Makers Association, the US only had 30 commercial meaderies in 2003, rising to 300 in 2016 and now have more than 400 counted to be active. In addition, an increasing number of bars and lounges is expected to drive the sale of honey wine over the estimated period. Besides, augmented consumer disposable income and the growing urban population are likely to play a vital role in developing the global honey wine market. Moreover, improving distribution channel, surging consumption of social media, growing awareness about various brands, and rising demand for private label brands to adopt new styles of honey wine has boosted the market's growth.

However, an extreme decline in the population of bees in the past few decades, owing to increased use of neonicotinoid pesticides, habitat fragmentation, and climate changes has restrained the market's growth. Moreover, high costs associated with the premium products and the health effects of overconsumption will hamper the honey wine market growth.

Market Segmentation:

The organic honey wine segment held the highest market revenue share of xx% in the year 2021

Based on nature, the organic honey wine segment held the highest market revenue share of xx% in 2021. The growing consumer preference for organic beverages owing to health benefits such as lowering cholesterol and increasing blood flow related to the consumption of organic beverages is estimated to support the segment's growth. The demand for organic products is increasing at a fast pace. Consumers are spending more on chemical-free and organic products, mainly in North America and Europe. For instance, as per Organic Trade Association, the US organic food product sales increased in 2020 by 13%, reaching nearly 56 billion USD.

Based on the distribution channel, the hotels/restaurants/bars are estimated to have a higher growth rate in the honey wine market in the next upcoming year. An increasing number of hotels, restaurants, and bars in developing and developed countries will drive this segment growth.

Geographical Penetration:

Europe is dominating the global honey wine market in the year 2021

Europe is dominating the global honey wine market in 2021, owing to the region's huge popularity and substantial consumption of plant-based foods. As per the European Parliament, approximately 600,000 beekeepers and 17 million beehives cultivate almost 250,000 tonnes of honey annually. The significant consumption of honey wine from the European region is frequently budding rapidly, boosting the region's growth. On the other hand, increasing consumption of honey wine among individuals, especially in hotels and restaurants in the region, is estimated to drive the growth of the North American honey wine market. In addition, the presence of key manufacturers in the countries in the region is projected to support the growth of the honey wine market in North America.

Competitive Landscape:

Some key players operating in the honey wine market are Kuhnhenn Brewing Company, Brothers Drake Meadery, Redstone Meadery, Gosnells Beverages Ltd, Medovina Meadery, Bent Run Brewing Co., Rosewood Estates Winery & Meadery, BeeCraft Mead Co., Modern Methods Brewing Company, and Etowah Meadery among others. Key players in the global market are focusing on strategic investments in research and development to develop new products, particularly with various product flavor formulations, which play a key function in expanding their growth in terms of market revenue. For instance, in December 2019, Gosnells Beverages Ltd launched a low & no-alcohol sparkling mead. The drink is made with a blend of different European kinds of honey. In May 2021, Gosnells Beverages launched al fresco mead bar. Gosnells Beverages is growing its micro brewing empire via the opening of a bee-friendly garden and mead bar in uptown peckham. In September 2021, Hill Zill Wines Pvt. Ltd., the manufacturer of Fruzzante, launched the premium honey mead brand Arka, which is made from honey extracted from beehives.

Covid-19 impact:

Positive impact on the global honey wine market

The outbreak of coronavirus disrupted the global honey wine supply chain and distribution channel, owing to the closure and restrictions on bars, restaurants, and hotels globally. For instance, as per National Restaurant Association, 799$ billion in restaurant industry sales in 2021, down $65 billion from 2019’s pre-pandemic levels. On the other hand, during lockdowns, honey wine sales have increased through online channels. Consumers enjoyed wine across a broader range of at-home occasions.

Why Purchase the Report?

Understand the current market scenario and viability of global honey wine market over the forecast period

Visualize the composition of the global honey wine market in terms of nature, product variety, and distribution channel to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global honey wine market – Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market share analysis covering business revenues ($) and revenue share (%) of key market players

The global honey wine market report would provide an access to approximately 61 market data tables, 55 figures, and 180 pages

Target Audience:

Alcoholic Beverages Manufacturers

Wine Manufacturers

Education & Research Institutes

Research Professionals