Global Root Beer Market size was valued at USD 897.23 Mn in 2022 and is expected to reach USD 1237.5 Mn by 2029, at a CAGR of 4.7 %.
Root Beer Market Overview:
This Root Beer Market study looks at current and emerging industry trends and dynamics in the global Root Beer Market. Root Beer Extensive Market forecasting for the major Market segments is carried out between 2021 and 2027. Extensive Root Beer Market analysis is carried out by closely monitoring key product positions and the main competitors in the Market framework. To understand the competitive landscape of the worldwide Root Beer Market, key players are profiled and their strategies are thoroughly evaluated.
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Market Scope:
The analysis contains a current examination of the present Root Beer Market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Root Beer Market environment. Increased demand for Root Beer is driving the Market. The Market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.
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Segmentation:
Using Flavour
In terms of flavour, the vanilla sector held the biggest market share for root beer in 2022. Manufacturers are offering speciality flavour varieties to appeal to a variety of consumer preferences and provide distinctive flavour experiences, which is what is driving the category growth. Vanilla, birch beer, honey, and seasonal flavours like gingerbread or pumpkin spice are among these variants. However, root beer's peculiar blend of sassafras, wintergreen, and other herbal extracts, together with its traditional and unique flavour profile, continues to be a global favourite.
According to Product Type
The non-alcoholic segment led the Root Beer Market share in 2022 based on product type. Root beer without alcohol offers a distinctive flavour as a tasty substitute. Root beer without alcohol is a carbonated drink that is typically made by mixing botanical extracts, herbs, and spices. It falls into the soft drink category. Root beer without alcohol is a preferred option for people of all ages, including teenagers and seniors. The majority of them are suitable for teenagers and free of caffeine and gluten. In the early 19th century, during the American prohibition era, this non-alcoholic beverage rose to popularity. Demand has grown since then. Due to their genuineness, non-alcoholic root beers are also enjoyed in comparison to alcoholic root beers.
by Channel of Distribution
According to the distribution channel, the retail store segment's revenue share of the root beer market in 2022 was%. Rural places with inadequate infrastructure, where e-commerce and contemporary retail outlets like supermarkets cannot operate, provide off-trade channels like retail shops and liquor stores a monopoly. Additionally, supermarkets and specialised shops are widely available in urban locations, and busy shoppers frequently pick these establishments since they provide a one-stop shop.
Key Players:
The Market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide Market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the Market's major influencing factors, as well as complete company profiles of
1. Barq's
2. Keurig Dr Pepper Inc. (AW, Hires)
3. Anheuser-Busch InBev NV (Mug Root Beer)
4. Reed's, Inc.
5. Sprecher Brewing Co.
6. Boylan Bottling Co.
7. IBC Root Beer
8. Thomas Kemper Soda Co.
9. Dad's Root Beer
10. Frostie Root Beer
11. Sioux City Soda
12. Jones Soda Co.
13. Appalachian Brewing Company
14. Henry Weinhard's Root Beer
15. Bundaberg Brewed Drinks
Regional Analysis:
Individual Market influencing variables and changes in Market laws that impact present and future Market trends are also included in the regional segment of the Market study. Data points such as downstream and upstream value chain analysis, technology trends, porter's five forces analysis, and case studies are just a few of the indicators utilized to anticipate Market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.
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COVID-19 Impact Analysis on Root Beer Market:
The COVID-19 epidemic has had a significant impact on the global Root Beer industry. Root Beer Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Market to decelerate in 2020. The negative impact of COVID-19 on the Market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2021, owing to increased demand for Root Beer.
Key Questions Answered in the Root Beer Market Report are:
- Which segment was responsible for the largest share in the Root Beer Market?
- How was the competitive scenario of the Market in 2020?
- Which are the key factors responsible for the Market growth?
- Which region held the maximum share in the Root Beer Market in 2020?
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