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Ginger Ale: A Refreshing Sparkle in the Beverage Market
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According to The Business Research Company's, The ginger ale market size has grown strongly in recent years. It will grow from $2.63 billion in 2023 to $2.79 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to cultural roots, marketing campaigns, prohibition era influence, health trends, mixology and cocktails.
The ginger ale market size is expected to see strong growth in the next few years. It will grow to $3.52 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to consumer preferences, sustainability and ethical consumption, e-commerce growth, functional beverages demand, mixology and culinary trends, global expansion. Major trends in the forecast period include craft and artisanal varieties, low-sugar and natural ingredients, functional beverages, premiumization, flavor infusions and blends.
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Market Drivers and Trends:
The rising number of health-conscious people is expected to boost the growth of the ginger ale market. Health-conscious people are individuals having an active interest in healthy lifestyles. Ginger's antioxidants have anti-inflammatory properties, and potential advantages for nausea, migraines, and heart health are worth considering. Health-conscious people look for healthy food and beverage options for several reasons, including providing various health benefits and preferring healthier beverages with significant health benefits, which drives the ginger ale market. For instance, in March 2021, a survey conducted by the Kerry Group plc, an Ireland-based public food company, includes 2, 662 beverage consumers across the UK, Germany, Poland, and Spain, 65% of functional beverage consumers are more concerned about their health since COVID-19. Therefore, the rising number of health-conscious people is driving the growth of the ginger ale market.
Product innovation is a key trend gaining popularity in the ginger ale market. Major companies operating in the ginger ale market are focused on launching new products to strengthen their position in the market. For instance, in June 2021, Reed's Inc., a US-based company that manufactures soft drinks and candies, launched a new zero-sugar ginger ale mocktails in two new flavors. Shirley tempting and Transfusion, containing 2, 000 milligrams of fresh, organic pressed ginger. Shirley Tempting delivers a cheerful mix of cherry and pomegranate flavors, and Transfusion is enhanced with juicy grape notes and an easy mixer. These energizing certified variants are ideal for any drinking occasion because they contain no calories and no artificial preservatives or artificial colors. The new tastes strike a delicate balance between a crisp, reviving ginger flavor and a dash of sweetness, whether consumed straight from the can as a mocktail or combined with other tasty cocktails.
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Major Key Players of the Market:
Dr Pepper/Seven Up Inc., Boylan Bottling Co., Hansen's Natural Corporation, Vernors and Hansen Natural Corporation, Buffalo Rock Company, Schweppes International Limited, Polar Beverages, Bruce Cost Fresh LLC, Zevia LLC, Fever-Tree Limited, Seagram Company Ltd., Reed's Inc., Bundaberg Brewed Drinks Pty Ltd, Fentimans Ltd, Honest Tea Inc., Harney & Sons LLC, Thomas Henry GmbH & Co. KG, Jones Soda Co., Boylan Heritage LLC, A-Treat Bottling Company, Red Rock Cola Inc., White Rock Beverages Inc., Q Mixers Inc., Regatta Craft Mixers, Maine Root LLC, Blenheim Bottling Company, Mason's Drinks Ltd, Llanllyr Source Ltd, Boots Beverages Inc., Gosling's Ltd.
Ginger Ale Market 2024 Key Insights:
• The ginger ale market size is expected to see strong growth in the next few years. It will grow to $3.52 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
• The Surge In Health-Conscious Consumers Fuels The Ginger Ale Market
• Reed Inc. Redefines Ginger Ale Market With Zero-Sugar Mocktails In Exquisite Flavors
• North America was the largest region in the ginger ale market in 2023
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