Beer Market size to grow by USD 141.28 billion between – 2022 to 2027 | Comprehensive Analysis of Market Drivers, Trends, and Challenges by Technavio
The beer market is seeing a rise in demand, notably in emerging economies such as India, China, Brazil, Vietnam, and South Africa.
New York, Jan. 04, 2024 (GLOBE NEWSWIRE) — The Beer Market is a dynamic and diverse industry encompassing the production, distribution, and consumption of popular alcoholic beverages. It is shaped by changing consumer preferences, cultural influences, and technological advancements. This market offers various beer styles, flavors, and packaging options to a global consumer base. The report encapsulates a comprehensive understanding of the market dynamics, encompassing an array of driving forces, trends, and challenges boosting the evolution of the beer market. Request Sample Report
What’s the projected growth and size of the beer market from 2022 to 2027?
The beer market is estimated to grow by USD 141.28 billion between 2022 and 2027, accelerating at a CAGR of 3.7% during this period.
What are the key drivers fueling the growth of the beer market?
The beer market is seeing a rise in demand, notably in emerging economies such as India, China, Brazil, Vietnam, and South Africa. This growth is fueled by various factors, including evolving beer consumption trends, innovative beer marketing strategies, and the rise of e-commerce in beer sales. Moreover, beer festivals, tasting events, and brewpubs contribute significantly to enhancing beer distribution, while industry regulations play a significant role in governing beer production, distribution, and sales. Beer pairing with cuisines further adds to its popularity among consumers.
What trends are shaping the beer market’s growth?
The beer market is witnessing a notable trend with the introduction of diverse beer flavors, particularly in the realm of craft beer, microbreweries, lagers, ales, wheat beers, and alcohol-free options. This innovation in flavors aligns with evolving consumer preferences and is further supported by creative beer packaging solutions. Additionally, the concept of craft beer subscriptions is gaining traction, contributing to the market’s dynamism and catering to the evolving tastes of beer enthusiasts. Download sample report here
What challenges hinder the beer market’s growth?
Health concerns related to beer are significant challenges impacting the market, affecting both imported and domestic varieties like IPA, stout, pilsner, and seasonal brews. These concerns prompt a closer examination of brewing ingredients such as hops, malt, and yeast, boosting discussions about healthier alternatives. Additionally, the rise in home brewing signifies a shift towards more controlled and health-conscious beer production. Beer export-import dynamics are influenced by these health considerations, influencing market patterns and consumer choices.
How is the beer market segmented by distribution channel and packaging?
Distribution Channels: On-trade (bars, pubs, restaurants) and off-trade (retail). The on-trade segment is expected to grow significantly, especially in APAC and MEA due to increased consumption in bars and pubs.
Packaging: Bottles and cans. The bottles segment, preferred for traditional reasons and sustainability, is growing. Cans are also popular due to their lightproof nature and recyclability. Get sample report now
Which regions are the key contributors to the beer market’s growth?
APAC, led by countries like China, Australia, Japan, Vietnam, and India, is estimated to contribute around 42% to the global market growth. Economic growth, rising middle-class populations, and a preference for beer among millennials drive this growth.
Who are the major players operating in the beer market?
Notable players include AleSmith Brewing Co., Anheuser Busch InBev SA NV, Beerwulf BV, BrewDog Plc, Diageo Plc, Heineken NV, Molson Coors Beverage Co., The Boston Beer Co. Inc., among others. These companies employ various strategies like alliances, mergers, and product launches to strengthen their market presence. Buy the report here
Ginger Beer Market: The ginger beer market share is expected to increase to USD 4.08 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.68%.
Commercial Beer Kegerators Market: The commercial beer kegerators market size is estimated to grow at a CAGR of 5.07% between 2022 and 2027. The market size is forecast to increase by USD 19.15 million.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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