The Global Ginger Beer Market is Accelerating with a Moderate CAGR of 7.1% by 2022-2032

The global ginger beer market is set to witness an impressive growth rate of 7.1% over the forecasted years of 2022 to 2032. The ginger beer market size is anticipated to reach a valuation of around US$ 9.3 Billion by the end of year 2032 from the current valuation of US$ 4.7 Billion in 2022.

Ginger beer beverages are getting popular among consumers because of its spicy flavor and is nutritious at the same time. Additionally, the global ginger beer market share is being driven by consumers' shift away from calorie-dense beverages and toward lighter, and less sugary beverages.

As per the ginger beer market analysis report published by the Future Market Insights, it is becoming more and more popular among the younger generation in recent years. Several health advantages offered by ginger beer use serve as the primary explanation for this surge.

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Additionally, the lockdown brought on by the epidemic increased product sales, supporting the market expansion through the off trade distribution channel segment of the global ginger beer market.

The worldwide ginger beer industry, meanwhile, is being constrained by rigorous laws and limits imposed on the sales of ginger beer by the governments of many different nations. Such restrictions are placed due to the negative consequences of the artificial components and added sugar being used by some ginger beer manufactures.

Key Takeaways from Market Study

The overall growth of the global ginger beer market is estimated to be around US$ 4.7 Billion during the coming decade by following the average CAGR of 7.1%.

The non-alcoholic product segment holds the major share of the ginger beer market of about 75%, while the alcoholic segment is expected to witness the highest growth rate of 8.4%.

The flavored ginger beer products are the higher selling category contributing almost 60% of the revenue share. On the other hand, original ginger beer is getting popular in recent years with an estimated CAGR of 6.2% for the forecast years of 2022 to 2032.

Traditionally, on-trade distribution channels have remained the dominant segment for the ginger beer market growth by occupying a market share of more than 60%. However, with the rising popularity of the product the off-trade distribution channel is expected to witness a growth rate of 8% during the projected timeframe.

Among the broad geographical regions, North America holds more than 35% of the ginger beer market share. Contrastingly, Asia Pacific ginger beer market is gaining momentum in recent years with an overall growth rate of 8.4% projected for the years 2022 to 2032.

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Competitive Landscape

Some of the well-known ginger beer market players are Crabbie's Alcoholic Ginger Beer, BUNDABERG BREWED DRINKS, Fever-Tree, Fentimans, RACHEL'S GINGER BEER, Gunsberg, Natrona Bottling Company, Beer Goslings Rum, Old Jamaica Ginger Beer, Q MIXERS, Stoli Group USA LLC, and Barritt's Beverages International Ltd among others.

Recent Developments in the Global Ginger Beer Market:

East 9th introduced Lick Pier Tropical Ginger Beer in Sept 2021 that is a new category featuring tropical fruit tastes like pineapple and passion fruit. This initiative was undertaken by the ginger beer company to provide consumers with a variety of taste options and enhance the company's sales.

Spinifex Brewing Company made an announcement in July 2021 about the introduction of a brand-new, non-alcoholic ginger beer that was infused with the native superfood Kakadu plum, which is also known as gubinge collected by Aboriginal tribes in Western Australia's Kimberley area.

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Ginger Beer Market by Segmentation

By Type:

Alcoholic
Non-alcoholic

By Flavor:

Original
Flavored

By Distribution Channel:

On-trade
Off-trade

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.