The global craft
beer market is expected to reach USD 502.9 billion by 2025,
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.
Browse full research report on Craft Beer Market: 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 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 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.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/ready-to-eat-processed-and-frozen-foods
Grand
View Research has segmented the craft beer market on the basis of distribution
and region:
Craft
Beer Market Distribution Outlook (Volume, Billion Liters; Revenue, USD Billion,
2014 - 2025)
- On-trade
- Off-trade
Craft
Beer Market 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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