FELTON, California, June 16, 2020
FELTON, California, June 16, 2020 /PRNewswire/ -- The global Honey Wine Market size is expected to reach USD 817.03, million by 2025, according to Million Insights, registering a 10.41% CAGR over the forecasted period, from 2019 to 2025. The increasing trend of flavored wine along with rising disposable income in emerging countries has majorly driven the market.
Moreover, increasing demand for antioxidant beverage and sparkling wine is anticipated to drive the demand of honey wine. Further, growing penetration of market players, especially in emerging countries and shift in consumer preference towards a wide range of wine products is driving the market. Moreover, social media plays an important role to provide direct link between consumers and producers which is highly effective to increase brand awareness among consumers. Thus, increase in influence of social media and e-commerce is expected to provide new opportunities in the next few years.
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Geographically, Europe accounted for the largest market share, in 2018. Increase in demand in several countries like Italy, U.K., and France. In addition, the presence of key market players and continuous product launches are projected to fuel market growth. Several manufacturers are spending in R&D and implemented several strategies such as mergers and acquisition, product innovation to expand their geographical presence.
The major players included in the Honey Wine market are Medovina Meadery, Kuhnhenn Brewing Co. LLC, Redstone, Schramm's Mead, Brothers Drake, Real Beer Media, Inc, Humble Bee Wines, and Beecraft Mead.
Further key findings from the report suggest:
Browse 80 page research report with TOC on "Global Honey Wine Market" at: https://www.millioninsights.com/industry-reports/global-honey-wine-market
Million Insights has segmented the global honey wine market on the basis of product, distribution channel, and region:
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