San Francisco, 22 February 2019: The Report Craft Beer Market
Analysis By Distribution (On-trade, Off-trade), By Region (North America,
Europe, Asia Pacific, Central & South America, Middle East & Africa),
By Country (U.S., Germany, Australia, Japan), And Segment Forecasts, 2018 -
2025
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.
Access Research Report of Craft
Beer Market@ 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.
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
·
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.
