LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global mead beverages market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global mead beverages market will grow at a CAGR close to 7% during the forecast period. The presence of numerous untapped markets is a major factor driving the market’s growth.
The global mead beverages market is driven by the presence of numerous untapped markets in APAC and MEA. Mead beverages are gradually attaining popularity in the aforementioned geographic regions which has resulted in new players entering the market. APAC is a market with immense growth potential for the existing market players as it comprises of countries such as India and China. The market in APAC consists of a large number of untapped markets that is yet to be utilized by the market players. New players in the market are enjoying the early-mover advantage.
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In this report, Technavio highlights the growth of online sales as one of the key emerging trends driving the global mead beverages market:
The global online sales of mead beverages have been increasing through online portals. Such portals are expected to boost the growth of the market during the forecast period. In 2017, alcohol sales were growing at a fast pace through online medium. Web portals and e-commerce websites that sell alcohol ought to abide by country-specific regulations and need to hold a valid license to sell and promote alcoholic beverage. Verification of the consumer's age and appropriate declarations (related to the amount of alcohol that the beverage contains) are mandatory to ensure the smooth shipment of alcoholic beverages.
“The online sales of alcoholic beverages fluctuate seasonally with sale being the highest during festive season and special occasions. The high global penetration of the internet and hectic lifestyles of consumers have led to the advent of online sales of alcoholic beverages like mead beverages. Few of the e-commerce-based retail and delivery systems are THIRSTIE, Drizly, MiniBar Delivery, and others. To attract consumes the mead manufacturers are offering late free-delivery options, cash-back offers, offers for bulk buying, and more,” says a senior analyst at Technavio for research on alcoholic beverage.
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Global mead beverages market segmentation
This market research report segments the global mead beverages market into the following products (melomel mead, traditional mead, and sparkling mead) and key regions (the Americas, APAC, and EMEA).
The melomel mead segment held the largest market share in 2017, accounting for nearly 34% of the market. The market share for this application is expected to decrease by 2022. Similarly, traditional mead and sparkling mead is also expected to witness a decline.
EMEA was the leading region for the global mead beverages market in 2017, accounting for a market share of 51%. By 2022, APAC is expected to witness the highest growth in terms of market share whereas the Americas and EMEA is expected to witness a decline in market share.
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