What is Craft Drink Market?
The craft drinks are flavoured and carbonated drinks which are widely consumed. These can be alcoholic or non-alcoholic drinks. These beverages are small-batch drinks and owned independently -- but in some cases, the firms that make them eventually flourish and become so successful that they're considered bigger brands. The craft drinks include craft beer, craft soda, craft wine, or soft drinks. The popularity of craft drinks is increasing and hence fuelling the market
The market study is being classified by Type (Alcoholic and Non-alcoholic) and major geographies with country level break-up.
Tuxen Brewing Co. (Denmark), Jones Soda Co. (United States), SIPP eco beverage co., Inc. (United States), Craft Soda Company (South Africa), Justcraft Soda (United States), Appalachian Brewing Co. (Pennsylvania), Batch Craft Soda (Australia), Wild Poppy Company (United States), Boylan Bottling Co. (United States) and Excel Bottling Company (United States) are some of the key players profiled in the study.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Craft Drink market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Craft Drink market by Type, Application and Region.
On the basis of geography, the market of Craft Drink has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Consumption of Alcoholic Drinks Across the World
- Increasing Popularity of Flavoured Beverages
Market Trend
- Changing Lifestyle of Individuals
- Introduction of New Flavors in Craft Drinks
Restraints
- Changing Raw Material Prices
- Availability of Substitute Products at Lower Costs
Opportunities
- Increased Disposable Income
- Rising Urbanisation in Emerging Countries
- Growing Promotional Activities
Challenges
- Lack of Manpower Required for the Production
- Growing Health Concerns Due to Consumption of Alcoholic Drinks
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organisations and Others