Fruit beer is a fruit flavored craft beer (an alcoholic beverage) containing fruits as a flavoring agent or additive. The market is majorly driven by the substantial investments made into R&D activities to bring more novelties in the product in terms of flavor, taste & attractive packaging. The unique taste of fruit beer makes it one of the most popular beverages among consumers which in turn, are supporting the market to flourish on the global platform. Acknowledging the increasing demand, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global fruit beer market will witness exponential accruals registering a healthy CAGR during the review period (2017 – 2023).
Factors substantiating the market growth include the increasing popularity of craft beers among youngsters and rising number of places serving these fruity beverages. Improving economic conditions are providing impetus to the market growth, increasing consumers’ purchasing power that allows consumers to spend more on their preferred beverages. Furthermore, the relaxation in the regulations pertaining to the production of fruit beers acts as a key driving force behind the market growth.
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On the other hand, factors such as the availability of various counterfeited, low-cost products floating in the market are expected to obstruct the market growth over the review period. Also, skepticism among consumers towards the claimed health benefits of fruit beers led by the ongoing debates on its benefits & side effects negatively impacts the market growth.
Additionally, distribution channels are playing a vital role in the fostering the market growth to a great deal. The market penetration of the large format retail including supermarkets and hypermarkets, along with the online shopping feature, drives the market growth, especially in the developing countries. The burgeoning food and beverage industry is impacting the market growth positively.
While this large format - retail offers the convenience of competitive prices, the online channels provide the convenience of purchasing in comparison with the other types of retail. The modern retail, whereas, benefits the price-sensitive consumer as well as consumers having less or no time for shopping. Also, the increasing disposable income is encouraging the consumers to opt for a bulk purchase of groceries, including fruit beer at supermarkets and hypermarkets.
Global Fruit Beer Market –Competitive Analysis
The global Fruit Beer market appears to be fiercely competitive and fragmented with many well-established players having the global presence. Brand reinforcement, mergers & acquisitions, and innovation remain the popular trends for the key players in the market.
Some of the eminent leaders of the market include New Belgium Brewing Company (U.S.), Joseph James Brewing Company, Inc.(U.S.), Brewery Ommegang (U.S.), Lindemans Brewery (Belgium), All Saints Brewing Company (U.S.), Lost Coast Brewery (U.S.), Shipyard Brewing Company (U.S.), and Magic Hat Brewing Company (U.S.).
Industry/ Innovation/ Related News:
October 11, 2018 – Saint Louis Brewery (US) extends its Schlafly brand offering, introducing a fruity alternative to traditional winter brews - Merry Berry Ale to the market. Merry Berry Ale pours red and features blackberry, raspberry, and blueberry with undertones of lemon and vanilla.Fruit Beer Market Predicted to Rise at a Lucrative CAGR throughout 2023
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