Dublin, April 18, 2023 (GLOBE NEWSWIRE) -- A global Food and Beverages business consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the “Hard kombucha Market”. The report is a combination of primary data and secondary data and domain expert has analyzed the Hard kombucha Market from a local as well as a global point of view. Over the forecast period, Maximize Market Research expects, the market to grow from USD 40.90 Mn in 2022 to USD 181.88 Mn in 2029 at a CAGR of 23.76 percent.
Hard kombucha Market Report Scope and Research Methodology
| Market Size in 2022 | USD 40.90 Mn |
| Market Size in 2029 | USD 181.88 Mn |
| CAGR | 23.76 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 276 |
| No. of Tables | 116 |
| No. of Charts and Figures | 112 |
| Segment Covered | ABV Content and Distribution Channel |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2023−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The report is a thorough analysis of the Hard kombucha market which is provided with key findings including pricing, investments, expansion plans, and physical presence in the Hard kombucha market. The bottom-up approach was used to estimate the Hard kombucha market size and growth rates in the report. A detailed analysis is conducted on the drivers, restraints, opportunities, and challenges of the Hard kombucha market. The financial standing, portfolio, technology adoption, merger and acquisition, joint ventures and strategic alliances are included in the competitive environment for the Hard kombucha market.
Regional analysis of the Hard kombucha market conducted at a local, regional and global level. For a segment-wise analysis of the Hard kombucha market, it is divided by ABV Content and Distribution Channel. The report also provides information on the emerging regions that are expected to be major markets for the Hard kombucha market.
The report includes primary and secondary collection techniques with qualitative and quantitative analysis. Primary research includes questionnaires and telephonic interviews with market leaders, market leaders, business owners, etc., while secondary techniques include financial reports, annual reports, white papers, etc. SWOT analysis is used to identify the threats and weaknesses of the market while PORTER is used to understand the competitive intensity of the industry in the Hard kombucha Market.
Hard kombucha Market Overview
Hard kombucha is one of the popular types of alcoholic beverage which is made up of fermented tea. As compared to traditional kombucha, hard kombucha contains higher alcohol and provides health benefits among consumers. Hard kombucha has nutritional benefits depending on its probiotic content. It contains low–ABV beverages, thus it is better than the other alternatives such as wine and beer.
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Hard kombucha Market Dynamics
Hard kombucha contains potential health benefits such as improved digestion and immune function. The increasing awareness about health consciousness among consumers resulted in to increase in the use of high alcohol and traditional sugary drink and fermented beverages such as Hard kombucha. It provides probiotic bacteria and potential health benefits. As a result, the shifting consumer preference regarding the health benefits of fermented drinks helps to influence the demand for the Hard kombucha Market.
The hard kombucha Market is driven by the availability of a variety of flavors, increasing adoption of moderate alcohol content beverages among consumers, particularly in the younger generation and millennials, reduction in the consumption of alcohol, new innovations in the products, increasing demand for the more unique alcoholic options, the growing trend towards the premiumization and the increasing popularity of the artisanal and craft beverages. During the forecast period, the market growth is expected to be hampered by the high costs of raw materials.
Hard kombucha Market Regional Insights
In 2022, North America dominated the Hard kombucha Market with the largest market share. The regional market is driven by the increasing demand for alcoholic beverages from different age groups, the presence of the major manufacturers, the adoption of the mass appeal from both male and female consumers and high demand from baby boomers, millennials and Gen Z consumers. The increasing demand for craft beverages and consumer preferences for low ABV cocktails.
During the forecast period, the Asia Pacific is expected to be the fastest-growing region for the Hard kombucha Market. The regional market is primarily driven by the growing awareness and visibility of alcoholic beverages among consumers in countries including China, Japan and Australia. The availability of a variety of flavors, increasing penetration of Hard kombucha, demographic changes, urbanization and increasing disposable income are the factors that are responsible for influencing the growth of the Hard kombucha Market.
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Hard kombucha Market Segmentation
By ABV Content
- Up to 5.0% ABV
- 6.0 to 10.0% ABV
On the basis of the ABV Content, the market is segmented into, Up to 5.0% ABV and 6.0 to 10.0% ABV. In 2022, the 6.0 to 10.0% ABV segment dominated the market with the largest market share of 64.3 percent of total revenue and is expected to continue its dominance over the forecast period. The segment growth is driven by the increasing consumer preference for low alcohol and the availability of a variety of flavors.
By Distribution Channel
- On-trade
- Off-trade
Based on the Distribution Channel, the market is segmented into On trade and Off-trade. In 2022, the Off-Trade segment dominated the market with the largest market share of more than 64.00 percent of total revenue and is expected to maintain its dominance during the forecast period. The growth of this segment is driven by the availability of discounts and offers. It also includes several retail outlets such as hypermarkets, supermarkets, convenience stores, grocery stores, and wine & spirit shops.
Hard kombucha Market Key Competitors include:
- GT's Living Foods
- Flying Embers
- Kombrewcha
- Health-Ade Kombucha
- Unity Vibration
- JuneShine
- Boochcraft
- KYLA Kombucha
- Brew Dr. Kombucha
- Humm Kombucha
- Health-Ade Kombucha
- Wild Tonic
- Dr Hops Kombucha Beer
- Kombucha Wonder Drink
- Clearly Kombucha
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Key questions answered in the Hard kombucha Market are:
- What is Hard Kombucha?
- What is the CAGR of the Hard Kombucha Market?
- What was the Hard kombucha Market size in 2022?
- What is the expected Hard kombucha market size during the forecast period?
- What is the scope of the Hard kombucha Market?
- What are the key driving factors for the growth of the Hard kombucha Market?
- What are the different segments of the Hard kombucha Market?
- What are the factors restraining the growth of the Hard kombucha Market?
- What is the demand pattern of the Hard kombucha Market?
- What are the major challenges that the Hard kombucha Market could face in the future?
- What growth strategies are the players considering to increase their presence in Hard Kombucha?
- What are the upcoming industry applications and trends for the Hard kombucha Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Hard Kombucha Market?
- What are the top players operating in the Hard kombucha Market?
- Which region accounted for the largest market share in the Hard kombucha Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by ABV Content, Distribution Channel and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is Food and Beverages research firm, has also published the following reports:
Beer Market - The market size is expected to reach USD 1229.77 Bn by 2029 at a CAGR of 9.3 percent during the forecast period. The market is expected to be driven by an increasing propensity to consume beer over other alcoholic beverages, Advances in flavored beer products and increasing disposable income.
Organic Wine Market - The market size is expected to reach USD 17 Bn by 2029 at a CAGR of 10.5 percent during the forecast period. The market is expected to be driven by modifications in the wine-making market, changing trends of consumers and increasing awareness about the specialized product categories such as organic and natural.
Whiskey Market - The market size is expected to reach USD 92.14 Bn by 2029 at a CAGR of 5.9 percent during the forecast period. The market is expected to be driven by the increasing innovations in whiskey products such as organic whiskey and increasing investments in R&D by manufacturers.
Vodka Market - The market size is expected to reach USD 89.03 Bn by 2029 at a CAGR of 8.94 percent during the forecast period. The market is expected to be driven by increasing demand for alcoholic beverages and cocktail drinks among millennials and increasing purchasing power.
Sparkling Wine Market - The market size is expected to reach USD 60.15 Bn by 2029 at a CAGR of 4.8 percent during the forecast period. The market is expected to be driven by the increasing deseasonalized consumption of sparkling wine and growth in the wine industry.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
