Honey Wine Market Analysis Report By Application, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global honey wine market size was valued at USD 408.45 million, in 2018 and is anticipated to grow at a CAGR of 10.41% over the forecasted period, from 2019 to 2025. Honey wine also known as mead is fermented by honey. It has antimicrobial properties and high nutritional content has majorly driven market growth across the world over the same period.

Easy availability of several flavors such as herbs, chocolate, spices, and fruits are anticipated to drive the product demand over the next few years. Honey wine has healing properties and is used in various physical treatments. According to some studies, this product finds application in the treatment of several chronic diseases like heart diseases, cancer, allergies such as gastrointestinal disorders owing to its probiotic effects. These factors are expected to further provide traction to the market growth.

There has been a growth in the number of meaderies, especially in developing countries, further a rise in consumption of honey wine is also being experienced over the last few years. Moreover, a growing number of bars and lounges is expected to further boost the demand for the product. Rising disposable income and increasing urbanization are expected to have a positive impact on market growth. 

Product Insights

By product, the honey wine market is fragmented into the cascade, spices, amarillo, fruits, herbs, and others. Among products, the fruit honey wine accounted for the largest market share of more than 55.0%, in 2018. This growth is attributed to increasing awareness about health benefits such as increased blood flow and maintains cholesterol levels. Moreover, the availability of different flavors like grapes, mulberries, and apples are expected to augment the growth of the market. The product has antimicrobial and antioxidants properties, which help to maintain cholesterol and prevent the risk of cancer.

On the other hand, the spices segment is expected to expand with the highest CAGR over the forecast period, this is due to constant product innovation, which is undertaken by the key players in the market. In 2019, Gosnells Beverages introduced vintage mead with the finish of the spice product. 

Distribution Channel Insights

By distribution channel, the market is fragmented into off trade and on trade. Off-trade accounted largest market share, in 2018 due to high consumption and rising demand for sparkling wine. Low prices of this product through offline channels have influenced the market growth.

On-trade distribution channels accounted for a lower share as compare to off-trade. However, the segment is expected to grow with the highest CAGR over the forecast period due to the high growth in consumption of this product in developed countries. 

Regional Insights

Europe held the largest market share, in 2018. The market was majorly driven by the high demand for wines in several countries like U.K., France, and Italy. In 2018, France accounted third-largest market of the global market and held a market share of 25.0%, in Europe.

North America is expected to grow with the fastest CAGR of more than 12.69% from 2019 to 2025. This growth can be attributed to the increasing market demand for honey wine, in Canada and the U.S. The sale of honey wine in the U.S. has grown by 20%, in 2018 from 2013.

Impact of COVID-19

The honey wine market has been positively impacted due to the outbreak of COVID-19. During lockdowns, honey wine sales have increased through online channels. However, restaurants, bars, and pubs had to be closed down due to lockdowns and government restrictions across the globe. This is significantly impacted the market growth.

However, post lockdowns, cities, and states across several countries are reopening restaurants and bars which are expected to drive the demand for honey wine. In the U.K and U.S., bars and restaurants are following safety measures imposed by governments like social distancing, these measures will increase the crowd at restaurants and bars significantly, thereby driving the demand for honey wine post lockdowns.

Honey Wine Market Share Insights

The major players included in this market are Medovina Meadery, Kuhnhenn Brewing Co. LLC, Redstone, Schramm’s Mead, Brothers Drake, Real Beer Media, Inc, Humble Bee Wines, and Beecraft Mead. Market players including mergers and acquisitions, product innovation, and development implement several market strategies. In 2018, Gosnell’s introduced a Vintage Mead in London. 

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global honey wine market report based on product, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Fruits
    • Spices
    • Herbs
    • Others

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • On-trade
    • Off-trade

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • France
        • Italy
        • U.K.
    • the Asia Pacific
        • China
        • Australia
    • Central & South America
        • Brazil
    • Middle East & Africa