Global Fruit Beer Market 2019-2023 | Growing Popularity of Low-Alcohol Content Fruit Beer to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--May 16, 2019--
The global fruit beer market is expected to post a CAGR of more than 4% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global fruit beer market from 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the global fruit beer market is the growing emphasis on online retailing of fruit beers. The expansion of online commerce across the globe is offering huge potential for the fruit beer category. Online retailers selling fruit beer offer additional discounts, easy delivery options for consumers, and enhanced visibility for fruit beers provided by various vendors. They also offer benefits in the form of convenient payment options that avoid billing queues in outlets. These benefits offered by online stores are encouraging more vendors to offer their fruit beers through online channels. Therefore, the growing emphasis on online retailing of fruit beers may increase the sales of fruit beers through online channels during the forecast period.
As per Technavio, the growing popularity of low-alcohol-content fruit beer will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global fruit beer market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global fruit beer market: Growing popularity of low-alcohol-content fruit beer
Low-alcohol content fruit beer is gaining immense popularity owing to growing consumer inclination toward healthier beer options. Fruit beer with low-alcohol content does not cause intoxication and helps avoid damaging the kidneys and liver. As a result, consumer demand for low-alcohol fruit beer is growing significantly, which is encouraging vendors to expand their product lines. Thus, the health benefits of low-alcohol fruit beer and the new product launches by vendors will drive the demand and consumption of low-alcohol-content fruit beer.
“Apart from the growing popularity of low-alcohol-content fruit beer, factors such as the increased emphasis on marketing and advertising campaigns by vendors, and the increasing number of M&A activities will have a significant impact on the growth of the fruit beer market during the forecast period,” says a senior research analyst at Technavio.
Global fruit beer market: Segmentation analysis
This market research report segments the global fruit beer market by distribution channel (off-trade and on-trade) and geographic regions (North America, APAC, Europe, South America, and MEA).
The European region led the market in 2018, followed by North America, APAC, South America, and MEA respectively. The market growth in Europe can be attributed to the rise in microbreweries and an increase in the number of consumers shifting toward beer with low or no alcohol. The off-trade channel for fruit beer is becoming popular in countries such as the UK, Germany, and France.
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INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE WINE & SPIRITS
SOURCE: Technavio Research
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PUB: 05/16/2019 10:15 AM/DISC: 05/16/2019 10:15 AM