San Francisco, Nov 20 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:
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: 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
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-craft-beer-market
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.
For more information:
www.grandviewresearch.com
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