Step 1: the base
Mead bases are prepared from ingredients at the Mead Ketill and then fermented in the fermenter.
From the fermenter
Potions
Meads do not take a food slot: you drink them on top of your three dishes to heal in battle, restore stamina or eitr, or withstand frost, fire or poison.
Healing
Minor Healing Mead Restores 50 health over 10 s Black Forest 
Medium Healing Mead Restores 75 health over 10 s Swamp 
Major Healing Mead Restores 125 health over 10 s Mistlands 
Lingering Healing Mead Health regeneration +25% Ashlands 5 min Stamina
Minor Stamina Mead Restores 80 stamina over 2 s Black Forest 
Medium Stamina Mead Restores 160 stamina over 2 s Plains 
Lingering Stamina Mead Stamina regeneration +25% Mistlands 5 min Eitr
Minor Eitr Mead Restores 125 eitr over 10 s Mistlands 
Lingering Eitr Mead Eitr regeneration +25% Ashlands 5 min Elemental resistance
Poison Resistance Mead Poison: very resistant Black Forest 10 min 
Frost Resistance Mead Frost: resistant Swamp 10 min 
Fire Resistance Barley Wine Fire: resistant Plains 10 min Special
Tasty Mead Stamina regeneration +100%Health regeneration -50% Black Forest 10 s 
Love Potion Attracts: trolls appear more often and are stronger Swamp 5 min 
Berserkir Mead −80% stamina use when attacking−80% stamina use when blocking−80% stamina use when dodging Swamp 20 s 
Draught of Vananidir −50% stamina use when swimming Swamp 5 min 
Tonic of Ratatosk +15% movement speed+10 to the Run skill Mountain 10 min 
Mead of Troll Endurance +250 carry weight Mountain 5 min 
Anti-Sting Concoction Deathsquitos avoid you Plains 10 min 
Lightfoot Mead +20% jump height−30% stamina use when jumping Mistlands 10 min 
Brew of Animal Whispers Animals are tamed faster Mistlands 10 min How potions work
Step 2: the fermenter
The base goes into the fermenter, and after 40 minutes (2,400 seconds of world time) it turns into 6 bottles; Berserkir Mead gives 3.
On top of food
Potions do not take dish slots. While one healing, stamina or eitr potion is active, you cannot drink another of the same type.
Resistance
Resistance meads reduce poison, frost or fire damage for a few minutes. Without a frost resistance mead or a warm cape you freeze quickly in the Mountains.