The latest market report published by Credence Research, Inc. “Global Mead Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Mead Market generated revenue of around USD 2148.5 million in 2021 and is anticipated to grow a CAGR of over 6.50% during the forecast period from 2022 to 2028 to reach around USD 3134.9 million in 2028.
Mead known as honey wine, is a ubiquitous traditional alcoholic beverage produced by fermenting honey with water, sometimes with various spices, grains, hops, or fruits. Mead has high antimicrobial properties and nutritional content, which fuels its demand across the globe. The product has a healing property and is used to safeguard several diseases, such as allergies, cancer, heart disease, and gastrointestinal disorders.
is bifurcated into type, distribution channel, and geography. Based on type, the market is categorized into the head mount, body mount, and ear mount & smart glass. Based on distribution channels, the global market is segmented into cameras and accessories.. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, North America dominated the global mead market and accounted for a major market revenue share in terms of value. This is majorly due to the increasing use of wearable cameras in military applications, and rising spending in the military and defense sectors are factors that drive the growth of the global market. An increasing number of people in adventure activities and sports due to growing awareness of health and fitness is expected to boost the wearable cameras market growth in the region. Moreover, high disposable income, the presence of key manufacturers, and a large consumer base are other factors that support the growth of the global mead market over the forecast period.
There are several major challenges facing the mead market:
Limited awareness: Mead is not as well-known as other alcoholic beverages, and many people are not familiar with it. This can make it difficult for mead producers to reach potential customers and build a loyal customer base.
Competition from other alcoholic beverages: The alcoholic beverage market is highly competitive, and mead faces competition from a wide range of other products, including beer, wine, and spirits. This can make it difficult for mead producers to stand out and differentiate their products.
Regulation: The production and sale of alcoholic beverages are heavily regulated, and mead producers must navigate a complex web of rules and regulations. This can be time-consuming and costly, and it can also create barriers to entry for new producers.
Perceived quality: Some people may perceive mead as being of lower quality than other alcoholic beverages, which can make it difficult for producers to command premium prices for their products.
Access to raw materials: Mead is made from honey, which can be difficult to source in large quantities. This can be a challenge for mead producers, particularly if they are located in areas where honey is not produced locally.
Why Buy This Report-
· The report provides a qualitative and quantitative analysis of the global mead market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
· The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level
· In-depth analysis of the global mead market segmentation based on type, distribution channel.
· Major countries in each region with their import/export statistics
· The global mead market report also includes analyzing the global, regional, and country levels, along with key market trends, significant players analysis, market growth strategies, and key application areas.
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