The global honey wine market size is expected to reach USD 817.03, million by 2025, according to Million Insights, registering a 10.41% CAGR over the forecasted period, from 2019 to 2025. The increasing trend of flavored wine along with rising disposable income in emerging countries has majorly driven the market.
Moreover, increasing demand for antioxidant beverage and sparkling wine is anticipated to drive the demand of honey wine. Further, growing penetration of market players, especially in emerging countries and shift in consumer preference towards a wide range of wine products is driving the market. Moreover, social media plays an important role to provide direct link between consumers and producers which is highly effective to increase brand awareness among consumers. Thus, increase in influence of social media and e-commerce is expected to provide new opportunities in the next few years.
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Geographically, Europe accounted for the largest market share, in 2018. Increase in demand in several countries like Italy, U.K., and France. In addition, the presence of key market players and continuous product launches are projected to fuel market growth. Several manufacturers are spending in R&D and implemented several strategies such as mergers and acquisition, product innovation to expand their geographical presence
The major players included in the Honey Wine market are Medovina Meadery, Kuhnhenn Brewing Co. LLC, Redstone, Schramm’s Mead, Brothers Drake, Real Beer Media, Inc, Humble Bee Wines, and Beecraft Mead.
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Further key findings from the report suggest:
• By product, the spices segment is anticipated to grow at the fastest CAGR of more than 12.0% from 2019 to 2025.
• Off-trade distribution channel accounted for largest market share of more than 70%, in 2018.
• Europe has dominated the global market, in 2018 and expected to grow with significant CAGR over the forecast period.
• Key market players operating in this market are Medovina Meadery, Redstone, Schramm’s Mead, Brothers Drake, and Kuhnhenn Brewing Co. LLC,
Million Insights has segmented the global honey wine market on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2015 – 2025)
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 & South America
• Middle East & Africa
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