The global craft beer market size is expected to reach USD
502.9 billion by 2025, expanding at a CAGR of 19.9%, according to a new
report by Grand View Research, Inc. The market is expected to witness
substantial growth over the forecast period on account of the rising demand for
low alcohol by volume (ABV) and flavored beer.
The government in countries including
Australia, New Zealand, Belgium, Mexico, China, and the UK are promoting the
production of craft beer and incorporation of new breweries on account of the
positive contribution of the industry towards economic development and
employment generation coupled with the willingness of the consumer to pay extra
for better tasting brews.
Australia, Belgium, Germany, U.S. and New
Zealand are the major craft beer producing countries with over 65% of the
overall production in terms of value as well as volume. Belgian is the most
preferred beer among the major craft beer consuming countries owing to the
premium quality, clean taste and rich flavor & aroma of the brews.
Furthermore, the number of brewers in the
global market is growing significantly on account of the rising demand for the
product. As a result, the demand for grains such as barley, wheat, yeast,
sugar, and hops is increasing substantially. However, the alternative
applications of the raw materials are expected to lower the bargaining power of
the brewers.
The demand for the pale ale, IPA, and amber
ale is growing as these three craft products are widely preferred by the
consumers owing to the balanced composition of the raw materials in the product
including malt, hops, water, and yeast.
For full research report on Craft Beer Market
visit here:
https://www.grandviewresearch.com/industry-analysis/craft-beer-market
Further key
findings from the report suggest:
- On-trade
distribution of craft beer accounted for over 50% in 2015 of the overall
volume share, which is primarily attributed to the high consumption of the
product in restaurants, bars, and clubs in developed economies including
UK, Australia, and Belgium
- Off-trade
distribution of the product is expected to witness significant growth in
developing economies as the consumer spending power in these countries is
low with high price of the product in on-trade distribution outlets as
compared to its counterpart
- Europe is expected
to account for the largest market share in terms of volume owing to the
high consumer preference for flavored beer over other alcoholic spirits.
In addition, increasing demand for IPA and pale ale in the region is
expected to have a positive impact on the craft beer market growth
- Middle East &
Africa is expected to grow at a CAGR of 28.9% owing to the increasing
penetration in South Africa. The growing consumer awareness about the wide
range of flavors and styles of the product is expected to be a crucial
factor for market growth in the country
- Key players in the
craft beer industry include The Boston Beer Company, The Gambrinus
Company, D.G. Yuengling and Son, Stone & Wood Brewing Co. and Chimay
Beers and Cheeses. These major players compete on the basis of acquiring
new markets and increasing their product portfolio.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/craft-beer-market/request/rs1
Grand
View Research has segmented the global craft beer market on the basis of
distribution and region:
Craft Beer
Distribution Outlook (Volume, Billion Liters; Revenue, USD Billion, 2014 -
2025)
- On-trade
- Off-trade
Craft Beer
Region Outlook (Volume, Billion Liters; Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- Australia
- China
- India
- Japan
- New Zealand
- Central & South
America
- Brazil
- Middle East &
Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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