2024 Ginger Beer Market Report : Market Size, Growth Drivers, And Key Trends | Covestro AG, Koninklijke DSM NV, BASF SE, Allnex Belgium SA, Dow Inc., H.B. Fuller Company

"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.

Market Overview -
Ginger beer refers to a fizzy drink prepared from syrup and ginger that is occasionally moderately alcoholic. Drinking ginger beer may have some advantageous health effects, mostly because of the beverage's main component. Ginger beer is also used root to treat nausea and other stomach problems.

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Health And Wellness Awareness Propels Ginger Beer Market
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.

Competitive Landscape -
Major companies operating in the ginger beer market report are Covestro AG, Koninklijke DSM NV, BASF SE, Allnex Belgium SA, Dow Inc., H.B. Fuller Company, Wanhua Chemical Group Co. Ltd., SNP Inc., Kamsons Chemicals Pvt. Ltd., Axalta Coating Systems Ltd., The Sherwin-Williams Company, Perstorp AB, C.L Hauthaway & Son Corporation, Lamberti S.p.A., Sun Polymers International Inc., R. STAHL GmbH, Chemtura Corporation, Lanxess AG, Lubrizol Corporation, Bayer MaterialScience AG, PPG Industries Inc., Capital Resin Corporation, Walter Wurdack Inc., Palmer Holland Inc., SIWO US Inc., Brilliant Group Inc., Aditya Birla Chemicals Ltd., Hauthaway Corporation, Henkel AG & Co. KGaA, Huntsman Corporation, Nippon Polyurethane Industry Co. Ltd.

T-Mobile's Collaboration With Jones Soda Co. Spurs 5Ginger Beer Innovation
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.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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