Global Beer Market to Grow with a CAGR of 9.3% through 2028
The
Global Beer Market is driven by various factors such as changing consumer
preferences, expanding into emerging markets, and adapting to health and
wellness trends.
According
to the TechSci Research report, “Beer
Market – Global Industry Size, Share, Trends, Competition, Opportunity, and
Forecast, 2018-2028F”, the Global Beer market stood at USD659.01 billion
in 2022 and is anticipated to grow with a CAGR of 9.3% in the forecast period,
2024-2028. The global beer market is a dynamic and ever-evolving industry that
has captured the attention of consumers worldwide for centuries. As one of the
oldest and most widely consumed alcoholic beverages, beer has a rich history
and cultural significance in many societies.
Beer
is an alcoholic beverage typically made from malted barley, hops, yeast, and
water. It comes in various styles, including lagers, ales, stouts, and
pilsners, each with its unique flavor profile and brewing process. The global
beer market has experienced significant growth over the years and is
characterized by a diverse landscape of breweries, ranging from multinational
conglomerates to small craft producers.
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One
of the most significant drivers of change in the beer market is shifting
consumer preferences. While traditional lagers and pilsners still dominate,
there is a growing interest in craft beer, which includes a diverse range of
styles, flavors, and brewing techniques. This trend reflects consumers' desire
for unique and high-quality brews, leading to the proliferation of craft
breweries worldwide.
The
craft beer movement has reshaped the beer landscape, fostering innovation and
creativity in brewing. Small, independent breweries have gained popularity for
their artisanal approach to beer production, attracting a dedicated following
of beer enthusiasts. This segment has experienced remarkable growth, challenged
established beer giants and fostering competition within the market.
As
health and wellness trends gain prominence, some consumers are reevaluating
their alcohol consumption. This has led to a rising interest in low-alcohol and
non-alcoholic beer options that offer the taste and experience of beer with
reduced alcohol content. Brewers are responding by developing a wide range of
such products to cater to health-conscious consumers.
The
beer market has become increasingly globalized, with international beer brands
expanding their reach to new markets and consumers becoming more adventurous in
trying beers from different regions. This globalization has given rise to
cross-cultural brewing collaborations and the exchange of brewing techniques,
further diversifying the industry.
Sustainability
is a growing concern in the beer industry. Breweries are focusing on reducing
their environmental footprint by implementing eco-friendly practices in their
production processes. Sustainable sourcing of ingredients, energy efficiency,
and waste reduction initiatives are becoming standard practices as consumers
expect more responsible business operations.
The
beer market is highly competitive, with a few global giants dominating a
significant portion of the industry. Companies like Anheuser-Busch InBev,
Heineken, and China Resources Snow Breweries have a substantial market
presence. However, the craft beer movement and the proliferation of local and
regional breweries have intensified competition, challenging the dominance of
these industry giants.
The
global beer market is segmented based on type, packaging, production, and
region. Based
on the type, the market is segmented into lager, ale, stout & porter, malt,
and others. Among these, the lager segment has a significant share in the global
beer market during the forecast period. Lager is a popular and widely consumed
beer style known for its crisp and refreshing taste, making it a staple choice
for consumers around the world. Lager's mild and approachable flavor profile
appeals to a broad spectrum of consumers, from casual beer drinkers to
enthusiasts. Its light and refreshing taste make it a versatile choice for
various occasions and preferences.
Based
on region, the market is segmented into North America, Europe, Asia Pacific,
Middle East & Africa, and South America. Among these, the Asia Pacific region
has a significant share of the global beer market during the forecast period. With
increased disposable income, more consumers in the region can afford to indulge
in beer, making it a thriving market. Rapid urbanization across many Asia
Pacific countries has led to changes in lifestyle and consumer habits. Urban
areas often have a higher concentration of bars, restaurants, and entertainment
venues, contributing to increased beer consumption.
Major
companies operating in the global beer market are:
- Asahi Group Holdings, Ltd.
- Beijing Yanjing Beer Group Corporation
- Carlsberg Group
- Diageo plc
- Dogfish Head Craft Brewery Inc.
- Heineken N.V.
- Sierra Nevada Brewing Co.
- Grupo Modelo
- United Breweries Limited (UBL)
- Kirin Holdings Company Limited
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“The
global beer market is a multifaceted industry influenced by changing consumer
preferences, globalization, and evolving trends. Despite facing challenges
related to regulation, competition, and sustainability, it remains a resilient
and dynamic market. Breweries that can adapt to emerging trends, prioritize
quality and sustainability, and respond to shifting consumer preferences are
well-positioned to thrive in this evolving landscape. The future of the global
beer market promises continued growth, innovation, and diversity in beer
offerings for consumers around the world.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Beer Market By Type (Lager, Ale, Stout &
Porter, Malt, and Others), By Packaging (Glass, Metal Can, and Others), By
Production (Macrobrewery, Microbrewery, and Craft Brewery), By Region, By
Competition Forecast & Opportunities, 2018-2028F, has
evaluated the future growth potential of the beer market globally and provides
statistics and information on market structure, size, share, and future growth.
The report provides cutting-edge market intelligence and helps decision-makers
to make sound investment decisions. Besides, the report also identifies the
emerging trends along with essential drivers, challenges, and opportunities
present in the market of beer globally.
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