SAN FRANCISCO, April 29, 2020 /PRNewswire/ -- The global fruit beer market size is expected to reach USD 379.5 million by 2027, exhibiting a CAGR of 4.5% over the forecast period, according to a new report by Grand View Research, Inc. Growing popularity of alcohol free beer among millennials as an occasional drink during after-office hours and weekends is expected to remain a favorable factor for the industry growth over the next few years.
In terms of flavor, the market is bifurcated into peach, raspberry, cherry, apricot, and others. Raspberry flavored beer accounted for the largest share of 29.9% in 2019 owing to high popularity of this fruit flavor among young consumers. Cherry flavored beer is expected to expand at the fastest CAGR of 5.1% over the forecast period owing to high popularity of this fruit flavor among female consumers. Moreover, increasing product availability at supermarkets and hypermarkets is expected to contribute to the segment growth.
Key suggestions from the report:
- In terms of flavor, the raspberry segment was valued at USD 79.8 million in 2019. It is expected to witness significant growth in the coming years as a result of growing popularity of raspberry flavor among consumers
- Off-trade distribution channel is expected to expand at the highest CAGR of 5.1% over the forecast period. Increasing availability of the product at affordable prices through off-trade distribution channel will boost the segment growth
- Asia Pacific is expected to exhibit the fastest CAGR of 6.3% from 2020 to 2027 due to growing popularity of alcohol-free beer among the youth population of countries, including China and India
- Key industry players of fruit beer market include Jester King, New Glarus Brewing Company, Allagash Brewing Company, SIREN CRAFT BREW, Founders Brewing Co., New Belgium Brewing Company, Anchor Brewing, The Golden Road, and SIXPOINT BREWERY.
Read 80 page research report with TOC on "Fruit Beer Market Size, Share & Trends Analysis Report By Flavor (Peach, Raspberry, Cherry, Apricot), By Distribution Channel (On-trade, Off-trade), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/fruit-beer-market
On-trade sales channel accounted for a share of 65.4% in 2019. Growing trend of socializing at bars, pubs, and liquor lounges owing to availability of a variety of options is a major factor driving the sale of fruit beer through on-trade distribution channel. Increasing number of microbreweries across the world is also expected to drive the on-trade channel segment.
Off-trade distribution channel is expected to expand at the fastest CAGR of 5.1% over the forecast period. Increasing product availability at hypermarkets is a main factor driving the sales of fruit beer through off-trade channel. Furthermore, increasing number of hypermarkets in economies, such as India, China, and Brazil, is expected to contribute to the segment growth.
Grand View Research has segmented the global fruit beer market on the basis of flavor, distribution channel, and region:
- Fruit Beer Flavor Outlook (Revenue, USD Million, 2016 - 2027)
- Fruit Beer Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
- Fruit Beer Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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