What is Root Beer Market Scope?
Root Beer is a liquid refreshment which is brewed from a variety of roots, herbs, and berries. Initially, it was made at home as a medicinal beverage, sassafras flavors and sugar were the prime ingredients used to make root beers. However, the most modern root beers are carbonated soft drinks and generally sweet and foamy in nature. As per the US Food and Drug Administration, they banned the use of Sassafras in food and beverages, due to the health concerns associated with Sassafras. Hence now the most common ingredient instead of Sassafras are Anise, which provides licorice flavor, Wintergreen is used to provide a minty flavor to root beer, Sarsaparilla is used to provide bitter flavor, and Vanilla is used impart a creaminess flavor. Growing interest among the people for root beer as a beverage will drive the market for root beer in forecasted years.
The Root Beer market study is being classified by Type (Alcoholic Root Beer and Non-alcoholic Root Beer), by Application (Supermarkets/ Hypermarkets, Specialty Liquor Stores, Online, Bar, Nightclubs and Others) and major geographies with country level break-up.
Due to the presence of numerous small and large vendors, the root beer market appears to be highly fragmented. Key Vendors in this market compete with each other on factors such as price, quality, innovation, and distribution. The market players are majorly concentrating on consumer tastes, nationality, and economic conditions, and demographic trends are some of the other factors that affect the performance of the players in this market space. Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Root Beer market throughout the predicted period.
Craft roots Brewing (United States), A&W Restaurants (United States), Sage Mixology Company (Canada), Dr. Pepper Snapple Group (United States), Mill Street Brew Hall (Canada), Seagram (Canada), Rhineland Brewing (United States) and Best Damn Brewing (United States) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Root Beer market by Type, Application and Region.
On the basis of geography, the market of Root Beer 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). North America region held largest market share in the year 2020.
Influencing Market Trend
- Adoption of Low Alcohol Content in Beer
- Acceptance of Increasing Prominence of Root Beer Floats
Market Drivers
- Increasing Demand among Women and Millennials
- Increasing in the Number of Bars, Restaurants Which Provide Root Beer
- Increasingly Opting for a Healthier Lifestyle Which Includes the Consumption of Healthier Food and Beverages
Opportunities
- Growing Preference for Alcoholic Drinks with Low Alcohol Content in Developing Countries
- Upward Adoption of Western Culture has Largely Influenced the Drinking Habits in the Asia Pacific Region
Restraints
- Rising Anti-Alcohol Campaigns and Rising Aging Population
Challenges
- Concern Related to the Availability of Cheap Substitutes Is Likely to Create a Hindrance
Key Target Audience
Root beer manufacturers, Root beer suppliers, Organizations, associations, and alliances related to root beer manufacturing, Government bodies such as regulating authorities and policymakers., Industry associations and Market research and consulting firms
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