The global lager market size is expected to reach USD 492.69 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.3% over the forecast period. Consumption of premium beer in developed economies including Germany, U.K., and France is projected to exhibit significant growth owing to rising importance of bar culture on a domestic level. Moreover, consumers are changing their consumption habits and looking for innovative products with enhanced nutritional properties, which is expected to prompt the utility of lager.
Asia
Pacific is anticipated to witness substantial growth on account of improving
standard of living and increasing number of alcohol consumers, especially in
India and China. According to a report of World Health Organization (WHO), over
the decade ending 2016, the annual alcohol consumption in India reached 5.7
liters per person, which is almost double as compared to the consumption in
2006. Furthermore, alcohol consumption in China stood up to 7 liters per person
in 2016. These factors are expected to open up new avenues over the next few
years.
Major
manufacturers are launching new products to cater to the increasing consumption
in the market. For instance, in October 2018, Anheuser-Busch Companies, LLC
launched an Italian craft lager in U.K. The product is sold at premium pubs,
nightclubs, bars, and restaurants. In addition, in March 2016, Steinlager Tokyo
Dry, a dry premium lager, was launched in New Zealand. The product has a
combination of Japanese brewing mastery with quality raw ingredients of New
Zealand. This premium beer immediately took the market by storm owing to its
high quality and taste. These new product launches are expected to expand the
scope of the lager in the foreseeable future.
For Full Research Report On Lager Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/lager-market
Further key
findings from the study suggest:
- In terms of revenue, the
premium product segment is likely to expand at a CAGR of 4.5% from 2019 to
2025. Standard product dominated the global market, accounting for a
revenue share of over 55.0% in 2018
- Europe dominated the global
lager market in 2018 and constituted 41.3% share of the total revenue.
Rising importance of craft beer in developed economies including Germany,
France, Italy, and Russia is projected to have a positive impact on the
market growth over the next few years
- Key players operating in the
market include Heineken N.V., Carlsberg Group, Anheuser-Busch Companies,
LLC, China Resources Snow Breweries Limited, Diageo, Molson Coors Brewing
Company, Tsingtao Brewery Company Limited, ASAHI BREWERIES, LTD., Castel
Group, and Kirin Brewery Company
- Product innovation is
expected to remain a critical success factor among industry participants
over the next few years.
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https://www.grandviewresearch.com/industry-analysis/lager-market/request/rs1
Grand View Research has segmented
the global lager market on the basis of product, distribution channel, and
region:
Lager Product Outlook
(Revenue, USD Billion, 2015 - 2025)
- Standard
- Premium
Lager Distribution
Channel Outlook (Revenue, USD Billion, 2015 - 2025)
- On-trade
- Off-trade
Lager Regional
Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- U.S.
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- Japan
- India
- Central & South America
- Middle East & 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.
For more info visit @ https://www.grandviewresearch.com
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