Beer Market size is set to increase by USD 141.28 billion between 2022-2027 | Market is driven by the increasing demand for beer in emerging economies like India, China, Brazil, Vietnam, and South Africa - Technavio

NEW YORK, Dec. 6, 2023 /PRNewswire/ -- In a recent Technavio report titled Beer Market, it is projected that the market will grow at a rapid pace in the coming years. The market size is estimated to increase by USD 141.28 billion, accelerating at a CAGR of 3.7% during the forecast period. The APAC region is anticipated to contribute 42% to the overall market growth. Request a sample report

The beer market is expected to experience increased demand in emerging economies such as India, China, Brazil, Vietnam, and South Africa due to shifts in lifestyles, urbanization, increased incomes, and the popularity of beer among millennials. Global beer companies are concentrating on broadening their distribution channels and online sales in these regions. Significant beer launches, such as Haunted House by Allagash Brewing Company, the innovative beer from Black Calder Brewing Co., and the collaboration between Capital Brewing Co. and ONA Coffee on Imperial Stout, are projected to stimulate growth in the market.

The APAC region emerges as one of the swiftest-growing areas worldwide within the beer market, driven by nations like China, Australia, Japan, Vietnam, and India. This rise is attributed to various factors including escalating GDP, economic advancement, the escalating appeal of beer, the expanding middle-class populace, augmented per capita income, and the predilection for beer among millennials. Download the sample report

Technavio highlights the emerging trends of Beer Market:

• Introduction of new beer flavors catering to growing consumer demand globally.
• Craft beers are driving increased demand through the introduction of diverse flavors in the beer segment.
• Flavors serve as a key differentiator, particularly appealing to the experimental nature of the targeted millennial consumer base.
• Breweries adapt by incorporating and launching a variety of flavors to meet the preferences of millennials.
• Example: Diageo's launch of Guinness Nitro Cold Brew Coffee Beer in April 2021 in the US aimed at expanding its consumer base reflects the industry's response to the rising demand for diverse beer flavors.

Companies like Wild Beer Co., Heineken NV, and BrewDog Plc are major players in the beer market. For more details on the companies and their offerings, download the sample report here

Technavio has segmented the market based on Packaging (bottles and cans), Distribution Channel (on-trade and off-trade), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).

The bottle segment is expected to witness substantial growth in market share during the forecast period. Historically, beer has been conventionally packaged in glass bottles, predominantly in brown hues. This trend is reinforced by the popularity of the 600-ml beer bottle, a favored glass choice often shared among 2-3 individuals. Present-day consumers also show a preference for lightweight metal cans, adaptable to various social settings. Additionally, alternative packaging materials like wooden containers and polyethylene terephthalate (PET) bottles are accessible options in the market.

The Beer Market Analysis Report by Technavio projects positive growth, fueled by evolving consumer lifestyles and rising demand in emerging economies. Noteworthy beer releases, such as Haunted House by Allagash Brewing and innovative offerings from Black Calder Brewing Co. and Capital Brewing Co., contribute to market expansion. The emergence of flavored beer, catering to the experimental nature of millennials, presents a significant trend, while health concerns regarding prolonged beer consumption drive a shift towards non-alcoholic alternatives. With the bottle segment anticipated to witness substantial growth due to consumer preferences and sustainable packaging innovations, the beer market exhibits promising prospects amidst evolving consumer dynamics and regional expansions. Buy the report now

Related Reports:

Ginger Beer Market: The ginger beer market share is expected to increase to USD 4.08 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.68%.

Commercial Beer Kegerators Market: The commercial beer kegerators market size is estimated to grow at a CAGR of 5.07% between 2022 and 2027. The market size is forecast to increase by USD 19.15 million.

TOC

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Packaging
7. Market Segmentation by Distribution Channels
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
13. Appendix

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SOURCE Technavio