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.
Browse full research report on Cosmetic Implant 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.
Browse more reports of this category by Grand View
Research: http://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
- U.S.
- Europe
- Germany
- UK
- Asia
Pacific
- Australia
- China
- India
- Japan
- New
Zealand
- Central
& South America
- Brazil
- Middle
East & Africa
- South
Africa
Access Press Release
By Grand View Research: http://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.
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