Global Root Beer Market 2017-2021: Key Drivers and Trends by Technavio

Technavio has published a new report on the global root beer market from 2017-2021. (Graphic: Business Wire)

???pagination.previous??? ???pagination.next???

LONDON--()--Technavio market research analysts forecast the global root beer market to grow at a CAGR of close to 6% during the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the global root beer market for 2017-2021. The report also lists decaffeinated and caffeinated root beer as the two major product segments, of which the decaffeinated segment accounted for more than 87% of the market share in 2016.

According to Manjunath Reddy, a lead analyst at Technavio for alcoholic beverages research, “An emerging trend in the market is the increasing demand for beer with low alcohol content. Consumers are increasingly opting for a healthier lifestyle, which includes the consumption of healthier food and beverages. Hence, they prefer alcoholic drinks with low alcohol content, which favors the growth of the root beer market.”

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Technavio analysts highlight the following three market drivers that are contributing to the growth of the global root beer market:

  • New product launches
  • Entry of new players
  • Increasing demand among women and Millennials

New product launches

One of the major drivers of the global root beer market is the launch of new products. The players operating in the market are coming up with new products to meet consumer demands and to increase their revenue streams. In March 2016, East 9th Brewing launched its alcoholic root beer under the brand Future Memoirs of a Root Beer in the Australian market. The company claims that the product is a blend of various flavors such as sassafras, vanilla, cinnamon, and ginger, and contains about 4% of alcohol by volume.

Similarly, in April 2016, Mad Jack launched its hard root beer in Canada, which features a blend of various flavors such as cinnamon, cloves, wintergreen, anise, and sweet vanilla bean. The product contains about 5% alcohol by volume.

Entry of new players

Realizing the huge growth potential of the global root beer market, many new players are entering the market with their products. The major players in the global beer market are entering the global root beer market with their products to meet the rising demands for root beer. In August 2015, Boston Beer launched its Coney Island Hard Root Beer in the US market and in November 2015, F.X. Matt Brewing launched its Jed's Hard Soda line.

Increasing demand among women and millennials

The increasing demand for root beer from the women and millennial consumer segments is another growth driver for the market. The major consumers of root beer are women, and it has been seen that households that are led by women have a higher propensity to buy flavored root beer. Therefore, players in the global root beer market are launching marketing campaigns aimed specifically at women consumers, to increase their sales.

“In the US, millennials are the major consumers of craft beer followed by Gen Xers. Millennials demand more variety of flavors and are open to experimenting with new drinks. Also, they prefer to spend more on quality products, which offer more return on investments,” says Manjunath.

Browse Related Reports:

-- Global Sparkling Wine Market 2017-2021

-- Global Organic Wine Market 2017-2021

-- Global Scotch Whisky Market 2017-2021

Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like food, food service, and non-alcoholic beverages. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio market research analysts forecast the global root beer market to grow at a CAGR of close to 6% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com