Technavio, a tech-focused market research firm, has published a new report on the global root beer market, which is expected to grow at a CAGR of close to 6% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global root beer market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global root beer market are elaborated below:
Root beer market in the Americas: According to market research analysts at Technavio, growth of the root beer market in the Americas will be driven primarily by the increasing demand for craft beer in the region. The high demand for craft beer in the region is spurred by the availability of a wide variety of options. The root beer market in the Americas is led by the US, where the demand for alcoholic root beer is increasing.
According to Manjunath Reddy, a lead analyst at Technavio, specializing in research on alcoholic beverages, “Factors such as the rise in urbanization, increasing disposable incomes, and the presence of a large number of “youth” population is expected to reflect positively on the demand for root beer in the Americas over the forecast period.”
Root beer market in EMEA: The rising demand for root beer in Europe is attributable to the demand for innovation in product offerings and the constantly evolving taste preferences among consumers in the region. The rising demand for flavored root beer in countries such as UK, Romania, and Poland is projected to be one of the key driving forces behind growth of the root beer market in EMEA. The increasing demand for craft beer products in African countries is also anticipated to facilitate growth of the root beer market in this region over the next four years.
Root beer market in APAC: The root beer market in Asia is expected to witness a year-over-year (YoY) growth during the forecast period due to the presence of some of the fastest-growing lager beer markets in the region. Furthermore, the rise in disposable income, the increasing per capita consumption of beer, and the presence of a large youth population base in APAC countries will help the market grow in the coming years. Industry analysts at Technavio anticipate the root beer market in APAC to account for a revenue of almost USD 125 million by 2021.
The leading vendors operating in the global root beer market are:
- Anheuser-Busch InBev
- Boston Beer
- F.X. Matt Brewing
- Small Town Brewery
Other prominent vendors in the market include East 9th Brewing, Forbidden Root Restaurant and Brewery, Iconic Brewing, Mission Brewery, Molson Coors Brewing, and Sprecher Brewing.
A more detailed analysis is available in the Technavio report titled, ‘Global Root Beer Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Scotch Whisky Market 2017-2021
- Global Low-Alcohol Beverages Market 2017-2021
- Alcohol Beverages Market in US 2017-2021
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