Honey Wine Market Size Is Estimated To Reach $817.03 Million By 2025

The global honey wine market size is expected to reach USD 817.03 million by 2025, according to a new report by Grand View Research, Inc. The market is projected to register a CAGR of 10.41% over the forecast period. Demand for flavored wines is expected to be among the key factors driving the market. Increased consumer purchasing power, especially in developing countries like China, is anticipated to drive the product demand further.

Moreover, demand for sparkling wine and antioxidant beverages is estimated to drive the product demand. In addition, rising number of meaderies in developed countries will support the overall market growth. Positive impact of e-commerce channels and social media will also provide growth opportunities to the market. Europe is anticipated to be the largest regional market due to high product demand in countries, such as France, Italy, and U.K.

Moreover, presence of several leading manufacturers in the region and constant product launches by them are expected to propel the growth. Major companies are investing in R&D and capacity expansion to gain a higher industry share. For instance, in November 2018, Gosnell’s launched a Vintage Mead. They also focus on M&A and online sales for business expansion.

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Further key findings from the study suggest:

• In terms of revenue, spices product segment is projected to ascend at the fastest CAGR of 12.12% over the forecast period
• Off-trade channel of distribution led the global honey wine market in 2018 and accounted for an overall share of more than 70%
• Europe was the dominant regional market in 2018 and is projected to expand further at a steady CAGR over the next few years
• Key companies in this market are Redstone, Brothers Drake, Medovina Meadery, Kuhnhenn Brewing Co. LLC, and Schramm’s Mead
• These companies focus on new product development and capacity and business expansion to gain competitive edge

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Grand View Research has segmented the global honey wine market on the basis of product, distribution channel, and region:

Honey Wine Product Outlook (Revenue, USD Million, 2015 - 2025)

• Fruits
• Spices
• Herbs
• Others

Honey Wine Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

• On trade
• Off trade

Honey Wine Regional Outlook (Revenue, USD Million, 2015 - 2025)

• North America
• U.S.
• Europe
• France
• Italy
• U.K.
• Asia Pacific
• China
• Australia
• Central & South America
• Brazil
• Middle East & Africa

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com