Ginger Beer Market Expected to be Valued at USD 9.3
NEWARK, Del, June 24, 2022 (GLOBE NEWSWIRE) — The global ginger beer market is expected to witness an impressive growth rate of 7.1% over the forecast years from 2022 to 2032. The beer market size ginger is expected to reach a valuation of approximately US$9.3 billion by the end of 2032 compared to the current valuation of US$4.7 billion in 2022.
Ginger beer drinks are becoming popular among consumers due to their spicy and nutritious flavor at the same time. Additionally, the global ginger beer market share is driven by consumer shift from high calorie beverages to lighter and less sugary beverages.
According to the ginger beer market analysis report published by Future Market Insights, it is becoming increasingly popular among the younger generation in recent years. Several health benefits offered by the use of ginger beer serve as the main explanation for this increase.
Moreover, the epidemic-induced containment has increased product sales, supporting market expansion through the non-trade distribution channel segment of the global ginger beer market.
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The global ginger beer industry, on the other hand, is constrained by stringent laws and limits imposed on ginger beer sales by the governments of many different countries. These restrictions are imposed due to the negative consequences of the artificial components and added sugar used by some ginger beer manufacturers.
Key insights from market research
- The overall growth of the global ginger beer market is estimated to be around US$4.7 billion over the next decade following an average CAGR of 7.1%.
- The non-alcoholic segment holds the major share of the ginger beer market at around 75%, while the alcoholic segment is expected to experience the highest growth rate at 8.4%.
- Flavored ginger beer products are the top-selling category, contributing almost 60% of the revenue share. On the other hand, original ginger beer is becoming popular in recent years with an estimated CAGR of 6.2% for the forecast years of 2022 to 2032.
- Traditionally, on-site distribution channels have remained the dominant segment of ginger beer market growth by occupying a market share of over 60%. However, with the growing popularity of the product, the non-commerce distribution channel is expected to experience a growth rate of 8% over the forecast period.
- Among major geographical regions, North America holds more than 35% of the ginger beer market share. In contrast, the ginger beer market in Asia Pacific is gaining momentum in recent years with an overall growth rate of 8.4% predicted from the years 2022 to 2032.
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Some of the well-known players in the ginger beer market are Crabbie’s Alcoholic Ginger Beer, BUNDABERG BREWED DRINKS, Fever-Tree, Fentimans, RACHEL’S GINGER BEER, Gunsberg, Natrona Bottling Company, Beer Goslings Rum, Old Jamaica Ginger Beer, Q MIXERS, Stoli Group USA LLC and Barritt’s Beverages International Ltd, among others.
Recent Developments in the Global Ginger Beer Market:
- East 9th introduced Lick Pier Tropical Ginger Beer in September 2021, a new category with tropical fruit flavors like pineapple and passion fruit. This initiative was undertaken by the ginger beer company to provide consumers with a variety of taste options and improve the company’s sales.
- Spinifex Brewing Company made an announcement in July 2021 regarding the introduction of an all-new non-alcoholic ginger beer that has been infused with the native Kakadu plum superfood, also known as gubinge collected by Aboriginal tribes from the Kimberley region of Western Australia.
Ginger Beer Market By Segmentation
By distribution channel:
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market context
4. Global Ginger Beer Market Analysis 2017-2021 and Forecast, 2022-2032
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