Fruit beer contains fruitlets as flavoring agent or adjunct, in addition to new ingredients, such as hops and malt. Fruit beer's fruity aroma is determined by the fruit used and the brewing process. Cherries and raspberries, for example, have a stronger aroma than peaches and blueberries. Fruit beer is one of the most popular drinks because of its distinct flavor.
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The market has grown due to a rise in the consumption of fruit beer among teenagers, as well as an increase in disposable income. Fruit beer has a low alcohol content and would not damage a person's kidneys if made from scratch. According to NIIR PROJECT CONSULTANCY SERVICES (NPCS) beer sales will rise at CAGR of 7.5 per cent between 2017 and 2021.
Flavor Insights: -
In 2019, the raspberry group had the highest market share of 29.9%. Due to the exceptional nutritional benefits of raspberry, such as its low calorie content and high concentration of fiber, vitamins, and minerals, this fruit beer variant is expected to remain one of the most common among consumers. Furthermore, customers are predicted to be drawn to such items by the exceptional flavor characteristics of raspberry. Due to the high popularity of this fruit flavor among female consumers, cherry-flavored products are projected to grow at the fastest rate of 5.1 percent over the forecast period. Furthermore, market demand for soured flavored beer is increasing, which is expected to boost the growth of cherry-flavored products in the coming years.
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Market Drivers: -
The demand for fruit beer is also fueled by women's desire for a refreshing beverage. Fruit beer has a taste that is a perfect blend of typical malt beer and the sweetness of fruit. Furthermore, fruit beers' distinct flavor profile has made them one of the most popular beverages among western consumers. The sugar in selected fruit is usually fully fermented, resulting in a drier finish and lighter flavors. As a result, the amount of added sugar in these beers is significantly reduced, and the fruit flavor becomes more apparent. Some of the major driving forces for the fruit beer market include an ever-increasing population, an increase in the number of bars and restaurants, disposable income, an increase in the acceptance of western culture, and a relaxation of the rules and regulations governing the operation of the fruit beer industry.
Consumers can socialize more in bars and restaurants and spend more on alcoholic beverages as their disposable income rises in the working class. Furthermore, customers are now able to pay a higher price for premium segments. All of these factors are expected to propel the global fruit beer market forward during the forecast era.
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Global Market: -
Despite the COVID-19 crisis, the global demand for Fruit Beer, which was estimated to be worth US$ 269.8 million in 2020, is expected to rise to US$ 375.2 million by 2027, with a CAGR of 4.8 percent over the analysis period. The United States, Canada, Japan, China, and Europe are expected to drive the global Apricot segment's 4.4 percent CAGR. By the end of the analysis period, these regional markets, which had a combined market size of US$ 30.3 million in 2020, will have grown to US$ 41.1 million.
Asia-Pacific market: -
Due to the increasing popularity of beer in countries such as India, China, and Japan, Asia Pacific is projected to rise at the fastest CAGR of 6.3 percent over the forecast period. The Asia-Pacific market is expected to hit US$ 50.5 million by 2027, led by countries like Australia and South Korea, while Latin America will develop at a 5.1 percent CAGR during the study period.
In addition, a rise in the number of quick-service restaurants in India and China due to evolving eating habits and an increasing trend of socializing at bars, pubs, and liquor lounges is expected to create opportunities for fruit beer in the coming years.
Conclusion: -
The detailed report assesses the market sizing and growth of the industry. For the further requirement of business investment in projects like these, kindly contact Niir Project Consultancy Services (NPCS).
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