According to IMARC Group latest report titled “Craft Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on craft beer market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global craft beer market reached a value of US$ 103.85 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 200.62 Billion by 2027 exhibiting a CAGR of 11.20% during 2022-2027.
Craft beer represents a type of alcoholic beverage manufactured in a specialized hands-on process by small or independent microbreweries. It is commonly available in lager, ale, wheat, sour, stout, hybrid, overproof, and spiced variants. Craft beer can aid in preventing heart diseases, reducing stress, improving cognitive functioning, etc. Presently, it is gaining traction across countries as it has a more distinct taste than the mass-produced beer produced by large breweries.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The increasing demand for low-alcohol beverages is primarily driving the craft beer market. Additionally, the growing utilization of low ABV ciders, on account of the elevating consumer awareness towards alcohol unit consumption, is further catalyzing the market growth. Besides this, the inflating number of cafes, hotels, and restaurants that are experimenting with dishes using craft beer to offer unique menus to the customers is acting as another significant growth-inducing factor. Moreover, various key market players are introducing a wider choice of flavors, such as spicy, sweet, sour, honey-like, fruity, etc., with enhanced tastes to attract more consumers and expand their product portfolio, which, in turn, is also augmenting the global market. Apart from this, the rising investments in R&D activities aimed at incorporating go-green technologies and innovative methods in the manufacturing process of the product to emphasize sustainable sourcing and minimize water usage are anticipated to fuel the craft beer market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Anheuser-Busch InBev SA/NV
- Bell’s Brewery Inc.
- Constellation Brands Inc.
- G. Yuengling & Son Inc.
- Diageo Plc
- Duvel Moortgat
- Heineken NV
- New Belgium Brewing Company Inc.
- Oskar Blues Brewery LLC
- Sierra Nevada Brewing Co.
- Stone & Wood Brewing Co. (Lion Brewery Co)
- The Boston Beer Company Inc
Craft Beer Market Segmentation:
Our report has categorized the market based on region, product type, age group and distribution channel.
Breakup by Product Type:
- Ales
- Lagers
- Others
Breakup by Age Group:
- 21–35 Years Old
- 40–54 Years Old
- 55 Years and Above
Breakup by Distribution Channel:
- On-Trade
- Off-Trade
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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