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.
Full research report on craft beer market analysis:
http://www.grandviewresearch.com/industry-analysis/craft-beer-market
http://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.
View more reports of this category by Grand View Research
at: 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
o U.S.
·
Europe
o Germany
o UK
·
Asia Pacific
o Australia
o China
o India
o Japan
o New Zealand
·
Central & South America
o Brazil
·
Middle East & Africa
o South Africa
View Press Release of this research
report by Grand View Research: https://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
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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