Beer and Craft Beer Market valued at US $87.27 Billion in 2022 is to reach a value of US $148.83 Billion in 2030, growing at a CAGR of 6.9% over 2022-2030.
Global Beer and Craft Beer Market valued at US $87.27 Billion in 2022 is to reach a value of US $148.83 Billion in 2030, growing at a CAGR of 6.9%
Over the past couple of years, there has been a stimulation in demand for different traditional beers, which includes craft beer as well.
Craft beer is one of the main types of beer which is processed with an authentic or non-mechanized procedure by small breweries.
The American Brewer Association (ABA) defines craft brewery as ‘small’, ‘independent’ and ‘traditional’.
The Annual production of 6 million barrels of beer or less, associates to small craft brewery. Whereas in independent craft brewery, less than 25% of craft brewery is owned and controlled by a beverage alcohol industry member.
The surge in demand for more beer styles coupled with increase in per capita income among the target customers has propelled the demand for craft beer in some of the key beer consuming regions.
Craft beer is generally more expensive than standard lager beers.
Global Beer and Craft Beer Market: Overview
Consumers with higher income are the key customers for the global craft beer market. Higher incomes not only stimuli an increase in the demand for more expensive products but also augments the demand for more variety.
It is thus, not surprising that the craft beer market expanded as incomes increased substantially in industrialized countries in the decades.
Beer in general has been the subject of many government regulations. Regulations serve several objectives such as enhancing government revenues through beer taxes, protecting consumer health, protecting society from alcohol abuse, reducing the price of bread grains, and constraining market power.
Similarly, with the surge in demand for craft beers, governments have endured two-way interaction with rules and regulation.
On one hand, regulations have stimulated, or constrained craft brewing compared to microbrewers. On the other hand, the growth of craft brewing has induced changes in regulations that have facilitated the subsequent entry of craft breweries.
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Key Trends: Growth Determinants and Challenges
Growing Preferences for Low Alcohol by Volume (ABV)
There has been a heightened demand for low alcohol by volume beverages, and the sales of no-alcohol and low-alcohol beers have been rising with the growing interest from health-conscious consumers and a new and wider range of choices with improved taste. There is a trend toward low-alcohol beers and ciders, which is attributed to a growing awareness of alcohol unit consumption and the customers’ willingness to try new beverages.
Large numbers of eateries coming into existence
With the increase in the number of restaurants, pubs, and bars in the cities, the demand for craft beer on the market is growing. A proliferating number of social trends among millennials has increased the demand for breweries in the market.
The process of canning has been related to a seven-step process that has proved to be technologically beneficial for small beer breweries.
Competitive Landscape
Segmental Analysis of Global Beer and Craft Beer Market:
Based on Type
ALE
Lagers
Ale accounted for a higher craft beer market share. Over the years, most of the beer consuming customers have developed a special preference for traditional beers such as pale ale, porters, and stout. This consumer perception has driven some of the key players in the global beer market to reinstate different types of traditional beers into the market.
Based on Distribution Channel
The on-trade segment accounted for a higher market craft beer market share. The on-trade distribution segment includes outlets such as bars, restaurants, coffee shops, clubs, and hotels. The distribution and sales of products in the on-trade market differs completely from the approach and practice used in the off-trade market. In the on-trade segment, bar or restaurant owner and manager and the professionals working at any of trade outlet (bartenders and waiters) play an important role in the sales process
Based on Age Group
Based on Region
North America (US, Canada, Mexico), Europe (Russia, Germany, France, Italy, Spain, UK), Asia-pacific (Japan, China, Thailand, South Korea, Australia, India, Indonesia, Thailand), LAMEA (Brazil, South Africa, Nigeria)
Europe dominates the craft beer market. The region has witnessed surge in the consumption rate for different type of craft beers. Due to rise in demand for these kinds of beers, Europe comprises both regional as well as international players that play a pivotal role in the growth of the craft beer market size, in terms of value.
Major Developments:
In 2021, Incroyable, a brand by FrogBeer, launched its first non-alcoholic craft beer product line. The product line consisted of four 0.5% Alcohol by Volume (ABV) brews.
In 2021, Brithop, a brand created by Buxton Brewery, launched a new craft beer having a vibrant, fruity taste, catering to the young consumers in the United Kingdom.
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Beer And Craft Beer Market , Global Beer And Craft Beer Market , Beer And Craft Beer Market 2022 , United States Beer And Craft Beer Market
Nov 05, 2022
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