NEW
YORK, June 21, 2024 /PRNewswire/ -- The global
root beer market size is estimated to grow by USD 143.6 million from 2024-2028, according
to Technavio. The market is estimated to grow at a CAGR of
4.28% during the forecast period. Growing global beer
market is driving market growth, with a trend
towards increasing prominence of root beer floats.
However, low awareness of root beer and lack of standardized
definition of quality poses a challenge. Key market players include
AleSmith Brewing Co., Anheuser Busch InBev SA NV, Beerwulf BV,
BrewDog Plc, Cloudwater Brew Co., Diageo Plc, East 9th Brewing Co.,
Forbidden Root Restaurant and Brewery, Iconic Brewing Co., Keurig
Dr Pepper Inc., Kirin Holdings Co. Ltd., Mikkeller APS, Mission
Brewery, Molson Coors Beverage Co., Saranac Brewery, Sprecher,
Stone Brewing Co. LLC, Swinkels Family Brewers, The Boston Beer Co.
Inc., and Wild Beer Co..
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segments, customer landscape, and companies- View the
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Root Beer Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4.28%
|
Market growth
2024-2028
|
USD 143.6
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
3.91
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
39%
|
Key
countries
|
US, Canada, UK,
Germany, and France
|
Key companies
profiled
|
AleSmith Brewing Co.,
Anheuser Busch InBev SA NV, Beerwulf BV, BrewDog Plc, Cloudwater
Brew Co., Diageo Plc, East 9th Brewing Co., Forbidden Root
Restaurant and Brewery, Iconic Brewing Co., Keurig Dr Pepper Inc.,
Kirin Holdings Co. Ltd., Mikkeller APS, Mission Brewery, Molson
Coors Beverage Co., Saranac Brewery, Sprecher, Stone Brewing Co.
LLC, Swinkels Family Brewers, The Boston Beer Co. Inc., and Wild
Beer Co.
|
Market Driver
The popularity of root beer floats among consumers, particularly
in the US and the UK, is driving market growth. This trend involves
combining root beer with ice creams, resulting in popular
variations like Bailey float and Barbarian. Both non-alcoholic and
alcoholic root beer floats are gaining traction, catering to
diverse demographics. Root beer's use in cocktails and its
popularity among children further boosts market
expansion.
The Root Beer market is experiencing significant growth, driven
by consumer preferences for traditional beverages. Beverage
companies are focusing on improving the taste and quality of their
Root Beer offerings to cater to this demand. Carbonated and
non-alcoholic, Root Beer is a popular choice for consumers of all
ages. The market is also witnessing innovation with new flavors and
variations being introduced. The market is expected to continue
growing due to its affordability and wide appeal. The market is
competitive with major players offering a range of products. The
market is also seeing an increase in demand from international
markets. The market is expected to remain strong due to its unique
taste and nostalgic appeal. The market is expected to see continued
growth in the coming years.
Research report provides comprehensive data on
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Report
Market Challenges
- The root beer market faces challenges in gaining widespread
recognition and establishing a standardized definition of quality.
New manufacturers aiming to make an impact must invest
significantly in marketing efforts. Regulatory bodies are
anticipated to establish a standard during the forecast period,
addressing the current lack of definition. These factors may hinder
the market's growth.
- The Root Beer market faces several challenges. Production
involves the use of specific ingredients such as sassafras, carob,
and alcohol. Sugars and fruits are also essential components. The
sourcing of these raw materials can be difficult due to their
unique characteristics and availability. Carbonation is another
challenge, requiring specialized equipment and expertise.
Regulations regarding the use of certain ingredients, such as
sassafras, add complexity to the production process. Competition
from other beverage categories also poses a threat. Catering to
changing consumer preferences, particularly regarding health and
sustainability, is another challenge. Despite these hurdles, the
Root Beer market continues to grow, driven by its unique taste and
cultural significance.
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challenges - Request a sample report!
Segment Overview
This root beer market report extensively covers market
segmentation by
- Product
- 1.1 Decaffeinated
- 1.2 Caffeinated
- Distribution Channel
- 2.1 Off-trade
- 2.2 On-trade
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Decaffeinated- Root Beer Market is
experiencing steady growth, driven by consumer preference for
unique and traditional beverage options. Key players include
A&W Revenue Industries, Inc. And Barq's Root Beer. They focus
on product innovation and distribution expansion to meet increasing
demand. Market size is projected to reach USDX billion by 2025,
fueled by strong sales in North
America and Asia Pacific
regions.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Root Beer Market encompasses a wide range of beverages,
including both carbonated and non-carbonated varieties. These
beverages are derived from the roots, herbs, berries, and barks of
various plants, with sassafras tree being a key source. Modern root
beers often incorporate synthetic sassafras tastes to mimic the
traditional flavor. The market caters to diverse segments, such as
millennials, foodservice market, bars, restaurants, hotels, and
non-alcoholic consumers. Root beers are available in supermarkets,
hypermarkets, specialty stores, liquor shops, and online sales
channels. Low-alcoholic and non-alcoholic root beers are popular
alternatives in the market. Wintergreen leaf and honey are among
the other natural ingredients used in root beer production.
Market Research Overview
The Root Beer market encompasses the production, distribution,
and consumption of this unique and flavorful beverage. Root Beer, a
non-alcoholic beverage, is known for its distinct taste derived
from various herbs, fruits, and spices. The market includes various
types of Root Beer, such as traditional, sugar-free, and organic.
The market is driven by factors like increasing consumer preference
for natural and organic beverages, growing demand for sugar-free
and low-calorie drinks, and the expanding foodservice industry. The
market also faces challenges like intense competition and changing
consumer preferences. The market is segmented based on product
type, distribution channel, and region. The market is expected to
grow at a significant rate due to these factors and the ongoing
trends in the beverage industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Decaffeinated
- Caffeinated
- Distribution Channel
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio