The Ginger Beer Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ginger Beer Global Market Report 2024, The ginger beer market size has grown strongly in recent years. It will grow from $7.38 billion in 2023 to $7.94 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to cultural and heritage significance, craft beverage movement, health and wellness trends, mixology and cocktails, flavor innovation, niche and premium markets..
The ginger beer market size is expected to see strong growth in the next few years. It will grow to $10.6 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to continued health consciousness, flavor diversification, premiumization and branding, global culinary influence, sustainability and ethical practices, convenience and on-the-go consumption.. Major trends in the forecast period include alcoholic ginger beer segment, global flavor influences, sustainable packaging practices, on-the-go convenience, marketing emphasis on craftsmanship..
Increasing awareness regarding health and wellness is expected to propel the growth of the ginger beer market going forward. Health and wellness refer to an overall balance of a person’s physical, social, spiritual, emotional, intellectual, environmental, and occupational well-being. Ginger may help reduce nausea and upset stomach caused by a stomach virus, severe headaches, chemotherapy, or morning sickness during pregnancy. Ginger oil in ginger beer contains antioxidants, which are molecules that protect cells from damage that can lead to illness. For instance, in May 2022, according to an article published by the American Medical Association, a US-based professional association, and lobbying group of physicians and medical students, in 2020, healthcare spending in the United States rose by 9.7% to $4.1 trillion, or $12,530 per person. This pace of growth is significantly higher than that of 2019 (4.3%). Therefore, increasing awareness regarding health and wellness is expected to drive the growth of the ginger beer market.
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The ginger beer market covered in this report is segmented –
1) By Type: Alcoholic, Non-alcoholic
2) By Process: Fermented, Non-Fermented
3) By Distribution Channel: Supermarket, Convenience Stores, Specialty Stores, Online Stores
4) By Application: Retail, Catering
Product innovation is a key trend gaining popularity in the ginger beer market. Major companies operating in the market are focusing on launching innovative products to sustain their position in the ginger beer market. For instance, in June 2021, T-Mobile US Inc., a US-based wireless network operator company teamed up with Jones Soda Co to launch 5Ginger Beer, a premium and adaptable non-alcoholic brew that is delicious on its own or as the base for favorite cocktails or mocktails. T-Mobile collaborated with Jones Soda Co., a US-based beverage company to create Extended Range 5Ginger Beer, a premium non-alcoholic brew.
The ginger beer market report table of contents includes:
- Executive Summary
- Ginger Beer Market Characteristics
- Ginger Beer Market Trends And Strategies
- Ginger Beer Market – Macro Economic Scenario
- Global Ginger Beer Market Size and Growth
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- Global Ginger Beer Market Competitive Benchmarking
- Global Ginger Beer Market Competitive Dashboard
- Key Mergers And Acquisitions In The Ginger Beer Market
- Ginger Beer Market Future Outlook and Potential Analysis
- Appendix
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