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The honey wine market share is expected to increase by USD 317.31 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.7%.
This honey wine market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers honey wine market segmentation by distribution channel (off-trade and on-trade) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The honey wine market report also offers information on several market vendors, including B. Nektar Meadery, Bored Beverages, Brothers Drake Meadery, Cerana Meads, Etowah Meadery Corp., Humble Bee Wines, MARTIN BROTHERS Winery, Medovina, Moonshine Meadery, Real Beer, Redstone Meadery, Rosewood Estates Winery, Schramms Mead, The Honey Wine Co. LLC, WANDERING BARD MEADERY, and Wild Blossom Meadery and Winery among others.
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The health benefits of wine is notably driving the honey wine market growth, although factors such as campaigns against alcohol consumption may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the honey wine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Honey Wine Market Driver
One of the key factors driving the global honey wine industry growth is the health benefits of wine. Some of the health benefits associated with the consumption of wine are as follows:
Hence, owing to these factors, demand for honey wine is expected to increase during the forecast period, and, thereby, driving the growth of the market in focus.
Key Honey Wine Market Trend
Increasing use of online sales channels is one of the key honey wine market trends that is expected to impact the industry positively in the forecast period. Consumers are more comfortable with online shopping, wherein they can compare prices of alcoholic beverages such as honey wine. This will also create new opportunities for vendors where they can target customers without geographical boundaries, improve operational efficiencies, and provide customized products to consumers. Vendors that manufacture wine can sell their products online and offer lucrative and competitive pricing to customers. They can add videos on the online platform and present their products in a more attractive way. Also, an online sales platform eliminates middlemen such as distributors and enables vendors to offer products at competitive prices while maintaining their profit margins. Such factors will further support the market growth in the coming years.
Key Honey Wine Market Challenge
One of the key challenges to the global honey wine industry growth is the campaigns against alcohol consumption. The growing incidence of alcohol abuse and alcohol-related accidents, especially among the younger population, has led to many regulatory and social organizations launching campaigns against alcohol consumption. In October 2021, Gaon Connection collaborated with the WHO to initiate campaigns against alcohol abuse in Goa. The excessive consumption of alcohol can affect the physical and mental well-being of people. For instance, it can cause blackouts, seizures, drowsiness, hypothermia, vomiting, diarrhea, bleeding, and irregular heartbeat. The long-term consumption of alcohol can cause mental issues, heart problems, and liver failure. Such factors may hamper the growth of the market in focus during the forecast period.
This honey wine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global honey wine market as a part of the global brewers market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the honey wine market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the honey wine market encompasses successful business strategies deployed by the key vendors. The honey wine market is fragmented and the vendors are deploying growth strategies such as the expansion of distribution channels to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The honey wine market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the honey wine market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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29% of the market's growth will originate from Europe during the forecast period. France and Germany are the key markets for honey wine in Europe. However, market growth in this region will be slower than the growth of the market in other regions.
The increased consumption of alcoholic beverages, such as honey wines and beers, by millennials especially women, will facilitate the honey wine market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 moderately affected the growth of the regional market, owing to a decline in the sales of alcoholic beverages, such as honey wine. However, in 2021, the reopening of liquor stores, restaurants, cafes, and other retail channels helped in improving the regional demand for wine, including honey wine. These factors are expected to result in the steady growth of the regional honey wine market during the forecast period.
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The honey wine market share growth by the off-trade segment will be significant during the forecast period. Honey wine retailers and market vendors are opening new stores in local and regional markets to fuel sales through off-trade channels. Retailers are adopting new business and retail strategies, such as better pricing and wider assortments, to sustain in such a competitive market and deal with the declining preference for off-trade shopping. Such factors will drive segment growth in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the honey wine market size and actionable market insights on post COVID-19 impact on each segment.
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Honey Wine Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.7% |
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Market growth 2022-2026 |
$ 317.31 million |
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Market structure |
Fragmented |
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YoY growth (%) |
9.3 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 29% |
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Key consumer countries |
US, Canada, China, France, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
B. Nektar Meadery, Bored Beverages, Brothers Drake Meadery, Cerana Meads, Etowah Meadery Corp., Humble Bee Wines, MARTIN BROTHERS Winery, Medovina, Moonshine Meadery, Real Beer, Redstone Meadery, Rosewood Estates Winery, Schramms Mead, The Honey Wine Co. LLC, WANDERING BARD MEADERY, and Wild Blossom Meadery and Winery |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Distribution Channel
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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