Known for its stimulating and refreshing flavor, ginger beer finds utility as both a carbonated soft drink and alcoholic cocktail mixer. Increasing preference for artisanal and handcrafted beverages had augmented the demand for premium ginger beers with bolder ginger flavors.
The Global ginger beer Market is estimated to be valued at US$ 6.32 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the ginger beer market include Fever-Tree, Crabbie’s Ginger Beer, Reed’s Inc., Bundaberg Brewed Drinks, Maine Root Handcrafted Beverages, Fentimans Ltd., Stoney’s Ginger Beer, Gosling’s, Canada Dry, Bruce Cost Fresh Ginger Ale, Dr Pepper Snapple Group, Hansen Beverage, Buffalo Rock Company, John Barritt & Son Ltd., Gunsberg, Q MIXERS, Natrona Bottling Company, Old Jamaica Ginger Beer, Schweppes, and Britvic. The increasing demand for natural and organic beverages is expected to offer lucrative opportunities for premium craft ginger beer producers. Growing popularity of mixed alcoholic drinks containing ginger beer as a mixer ingredient is fueling market expansion globally.
Key players are focusing on expanding their product lines as well as global footprint to capitalize on the growing demand. Fever-Tree had recently opened a new bottling plant in Italy to strengthen its presence in European markets. Reed’s Inc. has launched a zero sugar variety of ginger beer to target health-conscious consumers. The global ginger beer market is also witnessing entry of private label and store brand offerings from retail giants like Amazon, Walmart and Target.
Market Key Trends
One of the key trends driving the Ginger Beer Market Size is the growing popularity of craft and handcrafted beverages. Consumers are showing preference for artisanal beverages with bold and complex flavors over mass-produced ones. This has benefitted premium ginger beer producers offering authentic recipes and commercially fermented products. Another major trend is the versatility of ginger beer as a mixed drink ingredient. Innovative cocktails featuring ginger beer are gaining popularity at bars and restaurants, fueling demand. Introduction of variants with lower or zero sugar content is also expanding the consumer base of the ginger beer market.
Porter’s Analysis
Threat of new entrants: The ginger beer market is highly competitive with the presence of both international and regional players. Established brands, distribution channels and the requirement of larger production capacities raise the entry barriers.
Bargaining power of buyers: The bargaining power of buyers is moderate. The availability of various branded and private label options provides choice to buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate. The key ingredients required in ginger beer production such as ginger, sugar, and other natural flavors are commodities available from multiple suppliers globally.
Threat of new substitutes: The threat of substitutes is moderate. Beverages such as sodas, juices and flavored sparkling waters provide competition. However, the unique ginger flavor profile makes it difficult to replicate.
Competitive rivalry: The rivalry is high among ginger beer producers. Brand differentiation, expansion into newer markets and formats help companies gain market share.
Geographical Regions
North America accounts for the largest share of the ginger beer market, both in terms of production and consumption. The US leads the regional market owing to increasing awareness about health benefits of ginger and shift towards natural ingredients based beverages.
Asia Pacific registers the fastest growth and is expected to continue the momentum over the forecast years. Countries like India, China, Indonesia, and Vietnam witness rising domestic demand for ginger beer driven by improving purchasing power, Western influence and expanding beverage industry.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile