Mead Beverages Market

Mead Beverages Market Size (2023-2028):

The Global Mead Beverages Market size is expected to grow at a CAGR of 6.6% during the forecast period 2023-2028 to reach USD 875 million by 2028 from USD 535 million in 2022.

Market Overview:

One of the oldest alcoholic beverages, mead, also known as hydromel, is made by fermenting honey with water. Its history spans centuries and different cultures across Asia, Africa, and Europe. Mead's flavor can range from sweet to dry, depending on the type of honey used and any extra components added, such as fruits, grains, hops, or spices. Combining honey and water to make mead is the simplest form, but advanced varieties come in the form of melomel (fruit-infused), metheglin (spiced), and cyser (apple-based). Mead beverages are produced through fermentation, usually with yeast, and are delicious beverages with a variety of flavors and fragrances.

Recent Developments in Mead Beverages Industry:

• In May 2022, Moonshine Meadery planned to bring "Hopped Mead" and "Sidr Honey," their fresh, pure, and premium honey, to Goa. In Goa, Moonshine Meadery offers "Hopped Mead" and their newest, purest, and best honey, "Sidr Honey."
• In March 2022, The premium honey mead brand Arka was introduced by Hill Zill Wines Pvt. Ltd., the company that produces the unique sparkling alcoholic beverage Fruzzanté. Arkä is a beverage that has been mentioned in ancient scriptures dating back to 100 BC. It is produced from honey that has been taken from beehives and is then fermented and served as mead. The brand is now accessible in Karnataka following its popularity in Maharashtra and Goa.

REPORT COVERAGE:

Drivers:

A major driver of the market growth is the growing number of meaderies. These expanding meaderies, driven by an entrepreneurial spirit and the craft beverage movement, integrate innovation and creativity into their products by using a variety of flavors and brewing methods that attract customers seeking distinctive flavor experiences. In addition to promoting authenticity, these establishments frequently use local ingredients and capitalize on the historical and cultural significance of mead, which enhances its attractiveness. Meaderies can reach a broader consumer base through active tourism, community involvement, and a strong online presence, raising the mead beverages experience beyond traditional boundaries and helping in the expansion of this market.

Another prominent driver propelling the mead beverages market growth is the growing craft beverage trend. Mead beverages present a unique offering that is strongly based on history and craftsmanship, which consumers are increasingly looking for as they seek out distinctive and artisanal drinking experiences. The quality, authenticity, and creativity of the craft movements are perfectly aligned with the production of mead, pushing both established and developing meaderies to experiment with various honey sources, flavor infusions, and fermenting techniques. As a result of this development, there is increased demand from consumers for the traditional yet evolving qualities of mead beverages. This is contributing to boosting the market demand.

Further, the various flavors of mead beverages serve as a significant driver of the mead beverages market share. Mead beverages based on honey as the main component serve as an open opportunity for creativity, allowing manufacturers to create a variety of flavors, from the traditional sweetness of honey to complex blends with fruits, spices, and herbs. This adaptability appeals to consumers with various preferences, whether they favor traditional, modern, or experimental flavors. Mead beverages are tempting alternatives for both experienced drinkers and those who are new to the world of artisan beverages due to their adaptability in suiting a variety of tastes and occasions. Exploring these numerous flavors of mead beverages not only makes them attractive but also pushes consumers to engage with the drink in sensory and enjoyable ways, which promotes market size.

Restraints:

One of the major restraints on the mead beverages market growth is the limited awareness among people. Mead beverages are still largely unknown to many consumers despite their historical importance and unique qualities. As new consumers are less prone to look for or try a product they are unfamiliar with, this lack of knowledge and awareness hampers market growth.

Also, the production complexities serve as an obstacle to the mead beverages market growth. Mead beverage production is a complex process that involves selecting the proper honey, controlling fermentation, and producing the desired flavor profiles. These difficulties can make it challenging to maintain the consistency and quality that are essential for gaining a broad consumer base and retaining their loyalty. Also, some meaderies may find it difficult to scale up their productivity due to the time-consuming nature of mead production, which would make it more challenging for them to satisfy increasing consumer demand.

Opportunities:

A substantial growth opportunity for the mead beverages market expansion is presented by introducing new product offerings. Meaderies can grab the attention of a variety of consumers by consistently developing and increasing their product lines. This involves producing seasonal flavors, limited-edition releases, and partnerships with other beverage or food manufacturers. Adopting new trends like organic, gluten-free, or functional ingredients can bring in consumers who are concerned about their health. Additionally, exploring different package types like single-serve bottles or cans can fit into hectic schedules. Expanding the market's possibilities also requires the introduction of innovative mead-based cocktails, mocktails, or ready-to-drink alternatives. In addition to capturing consumer interest, new products help improve brand identification and engagement, boosting overall market expansion.

COVID-19 Impact on Mead Beverages Market:

Mead beverages market share was severely impacted by the COVID-19 pandemic due to the closures of businesses at bars, restaurants, lounges, and event venues. Social distancing rules and growing hygienic practices, people stopped going out and gathering together, and hence, collectively, alcoholic beverage demand, including mead beverages, decreased during this critical period. The supply chain for products used in the process of mead beverages, such as honey, was also hampered by the pandemic. As a result of it, mead beverage costs rose, and it became more challenging for manufacturers to obtain the ingredients they required in the production. This attribute led to a decline in the shares of the market during the pandemic. However, the market shares started to rise at a higher rate post-pandemic.

Mead Beverages Market Segmentation Analysis:

By Type:

• Fruit Meads
• Spiced Meads
• Traditional Mead

By type, the fruit meads segment is anticipated to dominate the mead beverages market share during the projected period. Honey and fruit are used to make fruit meads. Apples, berries, citrus fruits, peaches, and other fruits can all be used to make them. Also, fruit meads often have a lower alcohol concentration than traditional meads and are sweet and fruity. These factors are attracting more consumers towards it and helping the market to gain significant market share. At the same time, the traditional meads segment is expected to grow at the fastest rate during the forecasted period. Traditional mead, which mainly consists of honey and water, is the oldest and purest type of mead. This segment serves those who value mead's historical significance and pure essence.

By Distribution Channel:

• Supermarkets/Hypermarkets
• Specialty Stores
• Online Sales Channels
• Others

By distribution channel, the specialty stores segment is ruling the mead beverages segment during the anticipated period. Because they are the retailers that focus on selling alcoholic beverages, including mead beverages, they have a large selection of meads, and consumers who are looking for a specific kind of mead or who wish to experience a variety of meads can find specialty stores to be a great option. This is largely influencing the sales through this segment. However, the online sales channel is expected to grow at the fastest CAGR during the projected period. This is brought on by the rise in popularity of online purchasing and the expansion of mead availability on online platforms.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

By region, the North American region is dominating the mead beverages market share during the anticipated period. The growing interest in craft alcoholic beverages and the centuries-old tradition of mead production are majorly fueling the demand of the market in North America. The largest market for mead beverages in North America is the United States, followed by Canada. This is influencing the shares of the market in this region. However, the Europe region is expected to grow at a healthy CAGR in the upcoming years. Meads are experiencing renewed attention from consumers who seek beverages with historical influence because of their cultural significance in Europe. This is boosting the demand for mead beverages in this region.

Key Players in the Market:

Major Key Players in the Global Mead Beverages Market are

• Tallgrass Mead
• Moonlight Meadery
• Nektarmeadery
• Bunratty
• Charm City Meadworks
• PasiekaJaros
• Redstone Meadery
• Schramm's Mead