Isle of Man, Oct. 13, 2022 (GLOBE NEWSWIRE) -- Douglas Insights is continuing to add more markets to its comparison engine. It has recently added the Root Beer Market engine to its database. The reports involve everything from drivers and opportunities to restraints. It's a compilation that allows for opinions by market researchers and even analysts regarding the growth of a market. Douglas Insights is the world's first comparison engine for market research reports. It has access to all information, allowing the company to understand the private and public markets.
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Market Overview:
Root beer is a drink that people or manufacturers can brew using different kinds of roots and herbs. Some of the more common roots used for artificial beverages are the sassafras roots. These modern root beers are carbonated soft drinks that are generally quite sweet and have a lot of foam. Initially, root beer used to be a more medicinal beverage, but it has quickly become one of the most popular non-alcoholic drinks in America.
The root beer market is likely to grow over the next few years. It can also be segmented differently depending on various features such as alcohol content, distribution channels, etc. The COVID-19 pandemic created a lot of distribution issues that affected the demand for the root beer market. Root beers can also be carbonated or non-carbonated, depending on the company. There is also a rise in disposable income amongst people, which allows them to go to more restaurants and spend their money on all kinds of food and drink. People are also okay with spending more money on root beer if it's premium.
Market Growth Drivers
There is also a growing need for artisanal drinks, including all kinds of root beer which drives the market demand forward. Other factors include the growing global population and the rising amount of restaurants and bars. People are also more likely to know about root beer because of the growing implementation of American culture. There also aren’t as many rules and regulations regarding the operation of this kind of beer which helps create a better preference for the manufacture of this root beer.
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There is also an increasing need for new and innovative flavors for root beer, driving market demand. Root beers are top-rated as they manage to be both spicy and sweet. Root flavors are now readily available in many different flavors, which will drive the market forward. Unlike traditional beers, there is a lot more variety in the kind of root beers available in the market. They have a unique flavor that makes them stand out from other beers.
There is also the fact that many people are opting for non-alcoholic drinks nowadays as there is growing awareness regarding the harmful effects of alcohol in people’s lives. Many people want a spicy drink that doesn't have alcohol content, and root beer is quite an excellent option.
However, with all the drivers, there are also certain restraints. The significant limitations are that root beer can sometimes be alcoholic, depending on the kind of beer you opt for. There is an increase in the campaigns against alcohol which will restrict the market growth. The other restriction is that many people don't like the taste and think it's not very interesting compared to some of the beer flavors available in the market. This distaste could be because people have a lot of choices due to the increased flavored alcohol readily available, which may restrict the market growth significantly. However, there are opportunities for growth since root beer is something that competitors can remarket with newer flavors.
Root Beer Market Report Coverage
| Report Attributes | Details |
| Market Size in 2021 | $697 Mn |
| Market Size Projection in 2031 | $XX Mn |
| CAGR (2021-2028) | 4.5% |
| Largest Market | North America |
| Growth Drivers | Growing need for artisanal drinks, Growing global population, The rising amount of restaurants and bars & Strategic investment by key players |
| Segmentation | By Product, By Type, and By Distribution Channel |
| Regional Analysis | North America (US, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (U.K, Germany, Italy, France, Spain, Russia and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, ASEAN and Rest of Asia Pacific), ME (GCC Countries, Israel, and Rest of Middle East) & Africa (South Africa, North Africa and Central Africa) |
| Key Companies Covered | Keurig Dr. Pepper, Anheuser-Busch Companies, LLC., Blitz-Weinhard Brewing Co., Dad's Root Beer, Sprecher Brewing Co. Inc., The Berghoff, Bundaberg Brewed Drinks, Whole Foods Market IP, L.P., Warped Wing Soda Co, Stewart’s Restaurants, Inc. |
Segmentations
By Product
- Alcoholic
- Non-Alcoholic
By Type
- Conventional
- Diet
By Distribution Channel
- On-Trade
- Off-Trade
Key questions answered in this report
- COVID 19 impact analysis on global Root Beer industry.
- What are the current market trends and dynamics in the Root Beer market and valuable opportunities for emerging players?
- What is driving Root Beer market?
- What are the key challenges to market growth?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the Root Beer market?
- Key growth pockets on the basis of regions, types, applications, and end-users
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Unique data points of this report
- Statistics on Root Beer and spending worldwide
- Recent trends across different regions in terms of adoption of Root Beer across industries
- Notable developments going on in the industry
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2031 (forecast)
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Similar Market Research Report Comparisons:
Saffron Beer Market: The global Saffron Beer Market is projected to grow in the foreseen years. Saffron Beer is a luxury, handcrafted beer and a premium alcohol product. Saffron is a naturally occurring luxury spice with a distinct taste and aroma.
Craft Beer Market: Rapidly expanding craft and small brewery businesses are further expected to assist in flourishing the global sector. However, access to other alcohol-based beverages can hamper the market’s development.
Ginger Beer Market: The Ginger Beer Market is a niche market that has seen significant growth in recent years. The popularity of ginger beer has exploded in recent years, with more and more people looking for the unique flavor that it offers. This demand has led to a sharp increase in the number of ginger beer brands on the market, as well as a corresponding increase in the amount of money being spent on ginger beer each year.
Beer Cans Market: The North American region is expected to be the largest market for beer cans, due to the high consumption of alcohol in the region. Europe is also expected to be a key market for beer cans due to the growing popularity of craft beers.
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