The global honey wine market size was valued at USD 439.5 million in 2018. The market is estimated to expand further at a CAGR of 10.1% from 2019 to 2025. Honey wine, which is also called as mead, is fermented using honey. It has high nutritional content and antimicrobial properties, which drive its demand across the globe.
Moreover, the availability of different flavors, such as spices, fruits, herbs, and chocolate, is anticipated to fuel the demand over the forecast period. The product also has excellent healing properties and is used in several physical treatments. Some studies concluded that the product can be used to prevent various chronic diseases, such as allergies, heart disease, gastrointestinal disorders, and cancer, due to its probiotic effect.
The fruit honey wine product segment accounted for the largest share of more than 55% in 2018. The demand for fruit honey wine is driven by rising awareness about its health benefits, such as lowering cholesterol and increasing blood flow. The availability of different flavors, such as apple, mulberries, and grapes, will also fuel the product demand.
The off-trade distribution channel contributes to the largest market share. High consumption and demand for sparkling wine are likely to be the major factor for maximum sales through off-trade distribution channels. Besides, low prices of wines through these channels are likely to have a positive impact on the segment growth over the next few years.
The Honey Winemarket is segmented on the basis of nature, product, distribution channel and region.On the basis of nature market is segmented into Organic, Conventional. On the basis of product the market is segmented into Fruits, Spices, Herbs, Others. On the basis of distribution channel Conventional Stores, Supermarkets/Hypermarkets and Specialty Stores.
In terms of value, Europe is the largest shareholder in the global market. The regional honey wine market is driven by high demand for wines in countries, such as France, Italy, and the U.K. The France wine market was the third-largest market in the world with a share of around 25% in Europe in 2018. Moreover, high production due to increased consumption is expected to drive the market further. North America is expected to witness the highest CAGR of 12.69% over the forecast period on account of rising product demand. The average sale of honey wine from meaderies in the U.S. has grown by 20% in 2018 from the year 2013.
Key companies include Redstone, Brothers Drake, Medovina Meadery, Kuhnhenn Brewing Co. LLC, and Schramm’s Mead.
Report : Honey Wine Market - By Nature (Organic, Conventional) By Product (Fruits, Spices, Herbs, Others) By Distribution Channel (Convenience Stores, SuperMarkets/HyperMarkets, Specialty Stores) By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa) - Industry Analysis, Opportunity and Forecast 2020 To 2027