Beer Market Insights: The Key to Unlocking Market Dynamics and Opportunities
Category - Food & Beverage
Report Code - OMR-FB-274
Format: PDF, PPT, and Excel
Beer Market to Exceed Expectations at 4.2% CAGR During Forecast, Factors Such as Rising Number of Breweries Combined with Increased Competition Among Prominent Players
Beer is the third most popular beverage, after water and tea, and one of the earliest alcoholic beverages currently consumed. It is produced by distilling and fermenting malted barley, wheat, maize (corn), rice, and oats polysaccharides. Hops, a natural preservative, and stabilizing agent, are used to brew most modern ales.
The COVID-19 epidemic and accompanying government restrictions on people's mobility have profoundly affected alcohol consumption patterns and locations. The impact of store closures on the industries of Italy, the United Kingdom, and Colombia is disproportionate. Additionally, the pandemic affected traditionally popular domestic tourist destinations.
Key Takeaways of the Beer Market
By Type
Lager generated the most market revenue in 2022, and this trend is expected to continue throughout the forecast period. The development of the lager industry is being driven by demand for lager over ale and production expansion.
By Packaging
During the anticipated period, glass vessels will dominate the segment. Beer preserved in glass bottles preserves its carbonation and flavor for an extended period. Consumers are happier when consuming beer from glass bottles than from plastic bottles.
By Distribution Channel
Off-trade channels will dominate the global market share during the forecast period. Off-trade distribution channels are one of the most effective methods for international beer sales. Cost-conscious consumers in several economies avoid consuming beer in pubs and other on-trade establishments.
By Region
Asia-Pacific will maintain the greatest market share during the forecast period. The increase is a result of urbanization and increased consumer expenditure. Since 2002, Asia has had the highest annual alcohol consumption. China maintains a 36 percent market share as the largest consumer in Asia Pacific. Only the United States consumes more alcohol than its population worldwide.
Widening Distribution Channels to Accommodate Larger Market Growth
COVID-19 emphasized the advantages of utilizing established online marketplaces. Historically, the low-profit margins offered by online retailers have prohibited the active sale of alcohol there. This will change as more people add alcohol to online grocery shopping lists. In 2021, this industry's direct-to-consumer (DTC) channel expanded significantly. Numerous microbreweries can endure the epidemic and possibly thrive as a result.
Along with the popularity of this trend, the demand for beverages with added robust flavors continues to rise. Beer is one of the most popular alcoholic beverages, particularly among young people and millennials, due to its low ABV (alcohol by volume) and desired characteristics of refreshing appeal to consumers.
Intense Competition to Produce Pathway that Augments Increased Demand
Competition among beer brands has led to the development of novel flavors and increased production due to the rising demand for beer. The increasing popularity of craft beers can be attributed to their greater variety of flavors than mass-produced beers. Craft ales that combine salted, fruity, and acidic characteristics gain popularity rapidly among millennials.
Beer Market expansion during the projected period is also fueled by the rising prevalence of low-alcohol and alcohol-free beer among young people endeavoring to live healthier lives and reduce their alcohol consumption. In addition, brewers issue many new products during the forecast period to attract a larger audience and boost sales.
Global Beer Market Prominent Players
• Heineken N.V (Netherlands)
• Molson Coors Beverage Company (U.S.)
• Beijing Yanjing Beer Group Corporation (Beijing)
• Kirin Holdings Co. Ltd (Japan)
• Diageo Plc (London)
• Anheuser-Busch InBev (Belgium)
• China Resources Breweries (China)
• Carlsberg Breweries A/S (Denmark)
• Boston Beer Company (U.S.)
• Asahi Group Holdings, Ltd. (Japan)
• United Breweries Ltd. (India)
• Oettinger Brauerei (Denmark)
Report Scope for Beer Market
Type
• Lager
• Ale
• Stouts
• Others
Packaging
• Glass Bottle
• Metal Can
• Others
Production
• Macro Brewery
• Micro Brewery
• Craft Brewery
Distribution Channel
• On-Trade
• Off-Trade
Beer Market Regional Segmentation
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
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