The growing trend of nightlife among the younger generation in both developed and developing countries is making its rightful contribution to the growth of the Root Beer market.
HYDERABAD, TELANGANA, INDIA, September 9, 2022 /EINPresswire.com/ — IndustryARC predicts in its latest report that global Root beer market size is estimated to reach $935.6 million by 2027, growing at a CAGR of 4.7% over the 2022-2027 forecast period. In addition, the variety of taste options, the growing number of hospitality venues such as restaurants, cafes, bars, population growth, the growing influence of the West in developing countries, rising incomes and the growing trend of visiting pubs and discos among the younger generation. factors that will drive the growth of the Global Root Beer Market for the period 2022-2027
Main conclusions:
1. In 2021, the global beer market in North America accounted for the highest share of revenue. Growth is driven by strong demand as the drink is native to the region, high GDP per capita, independent millennial lifestyles, better retail chains and more bars and nightclubs.
2. The growing trend of nightlife in developing countries with increasing Western influence, rising disposable income, multiple flavor options, low alcohol content, and an increase in bars and nightclubs is considered to be the main driving force behind the growth of the global Root Beer market. Deteriorating production and supply chains, as well as excessive health complications associated with root beer consumption, are dampening market growth.
3. A detailed analysis of the strengths, weaknesses and opportunities of prominent players operating in the market will be provided in the Global Root Beer Market Report.
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Segment analysis:
1. The global Root Beer market can be divided into alcoholic and non-alcoholic beverages according to the type. In 2021, the segment of non-alcoholic drinks occupied the largest share. Growth is driven by exceptional taste and growing demand from millennials.
2. The global Root Beer market, depending on the distribution channel, can be further segmented into non-trade facilities (specialty stores, supermarkets, liquor stores and e-commerce), retail channels (restaurants, hotels, bars, clubs, and others). The off-trade segment held the largest share in 2021.
3. The global root beer market can be further divided into North America, Europe, Asia-Pacific, South America and the rest of the world by geography. North America held the largest share at 36% of the total market in 2021.
Competitive environment :
Top 5 Players in the Root Beer Industry:
1. Keurig Dr. Pepper Inc.
2. Boylan Bottling
3. Best Damn Brewing Co.
4. Rhineland Brewing Company
5 Sprecher Brewing Company
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Related reports:
A. Beer Market
https://www.industryarc.com/Report/16695/beer-market.html
B. Non-alcoholic beer market
https://www.industryarc.com/Research/Non-Alcoholic-Beer-Market-Research-513942
Venkat Reddy
IndustryARC
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