India Mead Beverage Market Size, Demand, Forecast 2023-2030
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Mead Beverage Market size by value at USD 57.14 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Mead Beverage Market size to expand at a CAGR of 4.76% reaching a value of USD 74.55 million by 2030. The Mead Beverage Market in India is propelled by the growing interest in craft beverages. The market, though young, is showing promise in the world’s most populous country. Consumer awareness is rising, with mead gaining recognition as a distinct beverage category distinct from honey wine or beer. This variety appeals to adventurous drinkers seeking new flavor profiles, and mead's potential for sustainable production resonates with eco-conscious consumers. These trends align perfectly with India's growing Craft Beverages Market, where consumers are increasingly opting for high-quality, small-batch products with unique flavor experiences, over just price.
Opportunity – Thriving E-commerce Sector
The India Mead Beverage Market is expected to witness a significant boost driven by the booming e-commerce sector in the country. Online platforms provide a convenient avenue for consumers to explore and purchase a wide variety of mead beverages from the comfort of their homes. This accessibility expands the market reach beyond traditional retail channels, catering to a larger audience nationwide. Additionally, e-commerce platforms offer opportunities for smaller and emerging meaderies to showcase their products, fostering competition and innovations within the industry. The seamless online shopping experience and diverse product offerings are projected to contribute to the accelerated growth of the India Mead Beverages Market during the period in analysis.
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Impact of Escalating Geopolitical Tensions on India Mead Beverage Market
Geopolitical tensions can have a multifaceted impact on the India Mead Beverage Market by disrupting supply chains and increasing costs for key ingredients like honey and exotic fruits. Import restrictions and trade barriers can limit access to high-quality raw materials, leading to higher production costs and, consequently, retail prices. Additionally, geopolitical instability can affect consumer spending power and market confidence, further restraining growth. Brands may face challenges in maintaining consistent quality and pricing, potentially hindering the market's expansion and consumer adoption. These factors collectively pose significant obstacles to the growth of the Mead Beverage Market in India.
India Mead Beverage Market
Segmental Coverage
India Mead Beverage Market – By Type
By type, the India Mead Beverage Market is bifurcated into Traditional Mead and Fruit Mead segments. The fruit mead segment holds a higher share in the India Mead Beverage Market by type. Fruit-based mead, developed primarily in the 20th century, is an emerging product category in the mead beverage industry. Leading players are focusing on launching fruit-based meads to attract millennials, who are significant consumers in the alcohol market. New entrants are also introducing innovative and enticing flavors, such as apple cider, coffee, chocolate orange, bourbon oaked apple, guava chili, mango chili, Christmas apple pie, Thai ginger and kaffir lime, and grilled pineapple. With numerous local producers entering the market, the fruit-based mead segment is expected to dominate the Indian market over the forecast period.
Competitive Landscape
The India Mead Beverage Market is fragmented, with numerous players serving the market. The key players dominating the India Mead Beverage Market include Moonshine Meadery, Cerana Meads, Portside, Arka, Salud Viking, Stump Meads, No Label, and Bored Beverages. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
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