The Craft Beer Market is expected to reach US$ 174.68 Bn during the forecast period at a 6.9% CAGR.
An increase in the number of microbreweries globally produces less amount of beer that focuses on the innovation of the product, quality and taste as per change in the taste of beer drinkers. Growth in the preference of customers for low and flavored ABV beer and rise in the usage of craft beer in the developing regions like India, South Africa, Brazil, and China will fuel the growth of the craft beer market in the coming years.
Drinking beer is increasing nowadays, because of the increase in the disposable income and a rise in the preferences of customers for beer instead of other beverages of alcohol. Moreover, growth in the female drinkers and population of youth is driving the growth of craft beer market analysis. Although, an association of several distribution channels will increase the craft beer market growth globally. In addition, accepting the western culture and cultural changes has encouraged customers to consume alcoholic beverages like beer. On the other hand, large excise duties and taxations on local beer and the increase in the awareness of customers towards health will affect the global craft beer market growth. The beer industry is providing several opportunities for growth in the coming years, because of introducing the non-alcoholic and naturally sweetened beer.
Global craft beer industry trends are increasing in the market of craft beer exports. In past years, American craft beers are not increasing the market of Europe and Asia. The main reason behind the increase in demand for craft beers is American craft beers. Craft beers are mostly competing with other products of alcohol very effectively in European countries. Nowadays, value for the rare, innovative and exotic flavors of craft beers are increasing, will expand the craft beer market globally.
Factors that are driving the growth of global craft beer market are rapid urbanization, the standard of living, high disposable income, beer getting popular and rise in the usage of alcoholic drinks. Some of the reasons which may control the growth of craft beer market are health issues occurring on consumption of beer, beer alternatives availability, legal rules, and heavy taxation. Growth in the demand for imported beer, innovative products with new flavor and popularity of craft beer is anticipated to offer opportunities for the growth of the craft beer market.
The global craft beer market is segmented on the basis of category, type, production, packaging, and region. Based on the category, craft beer market is divided into premium, popular price, and super premium. On considering the type, the craft beer industry is divided into ale, lager, malt, porter & stout and more. On the basis of production, the market is divided into a craft brewery, macro-brewery, micro-brewery and more. Based on packaging, the market is divided into PET bottle, glass, metal can and more.
Geographically, regions involved in the development of global craft beer market share are Europe, North America, Asia Pacific, and Latin America. Europe is anticipated to hold the largest global craft beer market share on the basis of volume because of the preference of customer towards flavored beer.
Key players involved in the development of craft beer market size are Gambrinus Company, Stone and Wood Brewing Company, Boston Beer Company and more.
Key Segments in the “Global Craft Beer Market” are-
By Category, market is segmented into:
- Popular Price
- Super Premium
By Type, market is segmented into:
- Porter & Stout
By Production, market is segmented into:
- Craft brewery
By Packaging, market is segmented into:
- PET bottle
- Metal can
By Regions market is segmented into:
- North America
- Asia Pacific
- Latin America
What to expect from the Global Craft Beer Market report?
- Predictions of future made for this market during the forecast period.
- Information on the current technologies, trends, devices, procedures, and products in the industry.
- Detailed analysis of the market segmentation, depending on the types, devices, and products.
- Government regulations and economic factors affecting the growth of the market.
- An insight into the leading manufacturers.
- Regional demographics of the market.