NEWARK, Del, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The fruit beer market is expected to develop at a CAGR of 6% from 2023 to 2033, above the observed CAGR of 2.4% between 2018 and 2022. This considerable increase in growth rate indicates increased demand for fruit beer, resulting in a significant increase in market value from US$ 331 million in 2023 to US$ 595.5 million by 2033.
The fruit beer market has grown significantly in recent years, owing to a variety of causes. The increased consumer appetite for flavored and creative alcoholic beverages is one of the key factors. Fruit beers have a distinct and refreshing flavor profile that combines the natural sweetness of fruits with the sharpness of beer, making them appealing to a wide spectrum of customers. The market is also driven by the growing demand for craft beers and the brewing industry's growing tendency for flavor innovation.
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There are, nevertheless, some constraints and hazards to consider. Market rules and prohibitions on alcohol distribution and use vary by nation and can provide difficulties for market participants. Furthermore, the availability and supply of high-quality fruits for brewing might be a challenge, affecting production quantities and total market growth.
Despite these obstacles, the fruit beer business offers several prospects. The increased popularity of fruit-infused drinks, particularly among millennials and craft beer fans, opens up new business prospects. Furthermore, product development, such as the creation of low-alcohol or non-alcoholic fruit beers, may capitalize on the rising desire for healthier and more diversified beverage alternatives. Strategic partnerships with fruit suppliers and distribution networks can also help to increase market reach and penetration. Overall, the fruit beer market has significant development potential, owing to consumer preferences for unusual flavors and the ongoing expansion of the craft brewing sector.
Key Takeaways
- In the United States, the market is growing at a CAGR of 23.4% in 2022 during the forecast of 2022 in the global market.
- United Kingdom is expected to increase at a CAGR of 5.5% by 2033, owing to rising consumer interest in innovative and tasty alcoholic beverages.
- In India, the market is predicted to develop at an 8.3% CAGR through 2033, exhibiting a strong growth trajectory as consumers seek new and inventive beer alternatives.
- China is expected to develop rapidly, with a CAGR of 7.2% by 2033, driven by the rising popularity of craft brews and a growing middle-class population with changing taste preferences.
- Japan’s market has a compound annual growth rate of 5.6% as per the forecast for 2022 in the global market.
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Competitive landscape
The fruit beer market's competitive environment is characterized by numerous significant companies contending for market share. New Belgium Brewing, Dogfish Head Brewery, The Boston Beer Company, Sierra Nevada Brewing Co., and Deschutes Brewing are among the market's prominent rivals. These businesses are noted for their inventive fruit-infused beer products, which combine distinct fruit flavors with traditional brewing procedures. They concentrate on product development, flavor testing, and brand positioning to differentiate themselves in the market. With increasing consumer demand for fruit-infused beers, these rivals try to provide unique and refreshing solutions to appeal to a wide range of taste preferences and gain a greater share in the fruit beer industry.
Top Key Companies Profiled in the Fruit Beer Market
- Joseph James Brewing Company, Inc.
- Lindemans Brewery
- Lost Coast Brewery
- Magic Hat Brewing Company
- New Belgium Brewing Company
- Brewery Ommegang
- All Saints' Brewery
- Shipyard Brewing Company
- Unibroue
- Wells & Young's Limited
- Brouwerij Von Honsebrouck N.V
- Abita Brewing
- Anheuser Busch InBev
- St. Peters
Recent Developments:
- New Belgium Brewing is well-known for its fruit-infused beers, such as "Citradelic Tangerine IPA" and "Juicy Haze IPA," which cater to the rising demand for hop-forward fruit beers.
- Dogfish Head Brewery is known for its inventive fruit beer innovations, such as "SeaQuench Ale" and "Festina Peche," which combine distinct fruit flavours with classic beer types.
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Key Segments Profiled in the Fruit Beer Industry Survey
By Flavour:
- Raspberry-flavored Beer
- Peach-flavored Beer
- Blueberry-flavored Beer
- Cherry-flavored Beer
- Plum-flavored Beer
- Other Fruit-Flavored Beer
By Distribution Channel:
- Fruit Beer Sales via Hypermarkets/Supermarkets
- Fruit Beer Sales via Departmental Stores
- Fruit Beer Sales via Specialty Stores
- Fruit Beer Sales via Online Retailers
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Top Reports Related To Food and Beverage Market Insights
Beer Market Size: The beer market size is projected to be valued at US$ 690.0 billion in 2023, and is expected to rise to US$ 996.0 billion by 2033.
Ginger Beer Market Share: The global ginger beer market is expected to reach a market valuation of US$ 4.9 billion by 2023, accelerating with a moderate CAGR of 7.7% from 2023 to 2033.
Non-Alcoholic Beer Market Trends: The non-alcoholic beer market size is projected to reach US$ 21,345 million in 2023, expanding at a CAGR of 8% from 2023 to 2033.
Mushroom Beer Market Value: According to Future Market Insights, the mushroom beer market is estimated to secure a valuation of US$ 1.3 billion in 2023 and is estimated to rise to US$ 2.2 billion by 2033.
Saffron Beer Market Demand: The saffron beer market is estimated to secure a valuation of US$ 1.2 Billion in 2023 and is estimated to rise to US$ 2.1 Billion by 2033.
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