At 4.7% CAGR, Root Beer Market Size Worth US$935.6 million by 2027: IndustryARC

September 14 06:59 2022
At 4.7% CAGR, Root Beer Market Size Worth US$935.6 million by 2027: IndustryARC
Market Research Reports, Business Consulting Services & Analytics
The growing trend of nightlife in developing countries with heightening western influence, rising disposable incomes, several flavor options, low ABV content, and augmenting number of bars and nightclubs are said to be preeminent drivers driving the growth of the Global Root Beer Market.

IndustryARC, in one of its latest reports, predicted that the root beer market size is estimated to reach $935.6 million by 2027, growing at a CAGR of 4.7% during the forecast period 2022-2027. The variety of flavor options, a growing number of hospitality venues such as restaurants, cafes, bars, increasing population, spiraling western influence in developing nations, budding disposable incomes, and rising trend of visiting pubs and discos among the younger generation are the factors set to drive the growth of the Global Root Beer Market for the period 2022-2027. The root beer market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.


Competitive Landscape:

The top 5 players in the Root Beer industry are –

1. Keurig Dr. Pepper Inc

2. Boylan Bottling

3. Best Damn Brewing co

4. Rhineland Brewing Co

5. Sprecher Brewing Co


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Segmental Analysis:

1. The Global Root Beer Market, based on type, can be further segmented into alcoholic and non-alcoholic drinks. The non-alcoholic segment held the largest share in 2021. The growth is owing to exceptional taste and enlarging demand by millennials.

2. The Global Root Beer Market, based on distribution channel, can be further segmented into Off-trade facilities (Specialty stores, Supermarkets, liquor shops, and e-commerce), On-trade channels (restaurants, hotels, bars, clubs, and others). The off-trade segment held the largest share in 2021.

3. The Global Root Beer Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share, with 36% of the overall market in 2021.


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Market Drivers and Challenges:

1. Growing living standards because of rapid migration and better GDP per capita, the availability of various flavors is anticipated to boost market demand.

2. The growing trend of nightlife and expanding presence of breweries, nightclubs, and pubs are expected to boost market demand.

3. The surfeit of health problems accompanied by root beer consumption is anticipated to hamper the market growth.


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Similar Report:

A. Beer Market

B. Non-Alcoholic Beer Market

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