The Root beer is anticipated to increase at a compound annual growth rate (CAGR) of 5.4% over the estimated period, according to research by Future Market Insights. According to projections, the market value will rise from US$ 861.1 million in 2022 to US$ 1,457.0 million in 2032. The root beer market is expected to develop at a compound annual growth rate (CAGR) of 5.9% from 2016 to 2021, with a market valuation of US$ 813.1 million at the end of 2021.
Root beer is a beverage brewed from a variety of roots, herbs, berries, and barks. Traditionally, it is made at home as a medicinal beverage. Primary ingredients used to make root beers include artificial sassafras flavors and sugar. Most modern root beers are carbonated soft drinks and generally sweet and foamy. Root beers are may be carbonated or non-carbonated.
Initially, Sassafras tree was used as the main ingredient to make the root beer. The sassafras tree contains volatile oils. However, now a days most modern root beers are made with artificial flavors and sweeteners and do not contain Sassafras as the US Food and Drug Administration banned the use of Sassafras in food and beverages, due to the health concerns associated with Sassafras.
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The most common ingredients used to make different root beer flavors include Anise, which provides licorice flavor, Sarsaparilla is use to provide bitter flavor, Vanilla is used impart a creaminess flavor and Wintergreen is used to provide a minty flavor to root beer.
Market Segmentation
The Root Beer market can be segmented on the basis of type, by distribution channel, and by regions. On the basis of type, the Root Beer market can be segmented into alcoholic and Non-alcoholic. Alcoholic root beer have been gaining popularity in the major markets such as North America.
Based upon distribution channel, root beer market is segmented into supermarkets/ hypermarkets, specialty liquor stores, online, bar and nightclubs, and others. Amongst rapidly growing distribution network specialty liquor stores acquire major market shares followed by bar and nightclubs.
Market Regional Outlook
On the basis of geography, the root beer market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and Africa. In regional markets, North America is the largest producer and consumer of Root beer. In North America, U.S. is the leading consumer of Root beers. The ability to pair well with a scoop of vanilla ice cream and distinctive flavoring, soft root beers remains a popular choice among consumers.
Alcohol root beers are becoming more popular due to its less alcohol percentage and sweet taste and the brew tastes nearly identical to a non-alcoholic root beer. Europe is another major market for root beers after North America. Root beers are gaining popularity in Asia Pacific and Middle East, due to changing consumer life style and influences of western culture. This factors are expected to drive root beer market growth in developing regions.
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Market Drivers and Trends
The desire among the consumers for new and interesting flavored craft brews is the major driving factor for global root beer market. Root beers possess a fine balance between full-flavored creaminess and strong root spiciness. Root beers are available in different flavors unlike traditional beers. Furthermore, the unique flavor profile of root beers has made it one of the most popular beverage among the consumers.
Increasing consumer interest in sweeter taste beers also driven the market for root beer market globally. The main ingredient used to make root beers is wintergreen which has a fresh flavor and sharply strong aroma. By mixing wintergreen with the additional ingredients in the soda, it provides a nice balance against the sweetness.
There are hundreds of different recipes for root beer and the drink has a wide range of flavors, which creates opportunity to offer various beer flavors in the market. The common ingredients used to make root beer include Anise, liquorice root, Sarsaparilla, Sassafras.
Root Beer Market Key Players
The market for Root Beer is highly fragmented with a large number of regional and international players. Some of the key players in Root Beer market include Craft, A&W Restaurants, Sage Mixology company, Dr Pepper Snapple Group, Crazy Uncle, Mill Street Brew Hall, Seagram, Rhineland Brewing Co, Best Damn Brewing Co etc.
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The report covers exhaustive analysis on
- Root Beer Market Segments
- Root Beer Market Dynamics
- Historical Actual Market Size, 2015-2016
- Root Beer Market Size & Forecast 2017 to 2027
- Root Beer Market Supply & Demand Value Chain
- Root Beer Market Current Trends/Issues/Challenges
- Root Beer Players Competition & Companies involved
- Root Beer Market Technology
- Root Beer Market Value Chain
- Root Beer Market Drivers and Restraints
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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