The global beer kegs market size is expected to reach USD 62.1 billion by
2025, according to a new report by Grand View Research, Inc., registering a
4.6% CAGR over the forecast period. The market is driven by increasing
consumption of beer among young consumers. An analysis conducted by Gallup,
Inc., previously known as American Institute of Public Opinion, pertaining to
alcohol consumption habits of Americans showed that close to 70.0% of men
between the age of 18 and 29 preferred beer over other alcoholic beverages.
This trend has continued over the years and has served as a key factor driving
the market.
Rising inclination for flavored alcoholic
beverages is a trend that is likely to benefit the market. This, along with
growing demand for premium products such as craft and draught variants, is
fueled by evolving consumer lifestyle and increased per capita income. The
rising trend of on-premise sales is also expected to fuel market growth. Kegs
help in maintaining the authentic quality and flavor of alcoholic beverages
over long durations. Draught beer is mostly served through kegs in order to
maintain its pressure, and therefore, the product witnesses greater demand from
on-trade sales.
Steel as a raw material held the dominant
share of 84.7% in the market owing to its largescale production in the
industry, higher durability, and favorable recycling properties. Steel kegs are
used for transportation and storage as it helps in blocking gases and
ultraviolet rays, thereby preserving the quality and flavor of beer.
Asia Pacific is expected to exhibit the
highest CAGR of 5.1% from 2019 to 2025 on account of increasing production and
consumption of beer in the region, majorly driven by countries such as India,
China, and Singapore. Moreover, intensifying presence of breweries producing craft
and draught beer are adding to product demand. Another factor driving the
market is rising number of leading companies investing in sustainable packaging
solutions and producing environment-friendly kegs. For instance, the unique DLC
kegs produced by Petainer are some of the most eco-friendly variants introduced
in Japan.
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Further key findings from the report suggest:
· The global beer kegs market was estimated
at a valuation of USD 45.2 billion in 2018, thanks to increasing disposable
incomes and changing lifestyle of consumers
· In terms of revenue, Europe accounted for
the maximum share in the global market owing to increased preference for craft
beer
· Plastic as a raw material is expected to
register a CAGR of 4.6% due to rising importance of and focus on sustainability
packaging solutions. The steel segment accounted for a revenue-based share of
84.7% in 2018
· The market is highly competitive in nature
with main players being American Keg Company, LLC; NDL Keg Inc.; Shinhan
Industrial Co, Ltd; Ningbo BestFriends Beverage Containers Co. Ltd; Blefa GmbH;
Schaefer Container Systems; and Petainer UK Holdings Ltd.
Grand View Research has segmented the
global beer kegs market on the basis of raw material and region:
Beer Kegs Raw Material Outlook (Revenue,
USD Billion, 2015 - 2025)
·
Steel
·
Plastics
·
Others
Beer Kegs Regional Outlook (Revenue,
USD Billion, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
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
