DUBLIN, April 9, 2020 /PRNewswire/ -- The "Beer Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The beer market is forecasted to reach USD 805 billion by 2024, registering a CAGR of 6.2% during the forecast period (2019-2024).
Changing lifestyle, increasing consumption rate of alcoholic drinks, rapid urbanization, high disposable income, and popularity of beer among the young population are a few factors driving the global beer market.
The introduction of new ingredients and innovative flavors, combining salty, fruity and tart flavors, by craft beers have found increasing appeal among the millennial crowd globally.
Due to the increasing popularity of craft beer, the global beer market has seen heightened preference for flavored beers by consumers, especially millennials.
Key Market Trends
Growing Preference for Low Alcohol by Volume (ABV)
There has been a consistent growth in preference for low alcohol by volume beverages and the sales of no-alcohol and low-alcohol beers have been rising with the growing interest from health-conscious consumers and a wider choice of new ranges with improved taste. Another driving factor is that the low-alcohol beers are now cheaper than their high alcoholic equivalents, for those of 2.8% ABV and less. The cost reduction would drive the market for low-alcohol alcohols such as craft beer. The scenario is much prominent in European countries like Sweden where brewers are seeking to bring changes to the craft beer market.
Surging Demand of Beer in Developing Regions
Asia-Pacific is the largest and one of the fastest-growing market for beer consumption, which accounts for about one-third of the global market share. The regional beer market growth can be attributed to the growing young population, and increasing number of middle class and their rising disposable income. Europe is the second-largest consumer of beer, which accounts for a steady growth rate. However, North America has been recording a drop in the overall beer consumption rate, annually. South America and Africa are the other developing regions witnessing significant growth rates of beer consumption.
The global craft beer market is increasing rapidly as the breweries outperform the broader, stagnant category with their more flavorful offerings and rapid expansions (the off-trade value of the craft beer market has been taken into consideration while evaluating the market share of key players).
Offering a wide range of product portfolio, many prominent players in the global market, like Anheuser-Busch InBev, Molson Coors, Heineken, Boston Beer Company, Constellation Brands, SABMiller and Carlsberg Group accounted for a considerable market share globally. Over the past few years, expanding companies' presence in the emerging economies has been one among their key strategies responsible for their growth.
Key Topics Covered
1.1 Study Deliverables & Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.2 By Category
5.2.1 Regular Beer
5.2.2 Premium Beer
5.3 By Distribution Channel
5.3.1 On-Trade Channels
5.3.2 Off-Trade Channels
5.4.1 North America
5.4.4 South America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Asahi Group Holdings Ltd.
6.4.2 Anheuser-Busch InBev
6.4.3 Boston Beer Company
6.4.4 Breckenridge Brewery
6.4.5 Constellation Brands
6.4.6 Diageo PLC
6.4.7 Heineken N.V.
6.4.8 Interbrew Company
6.4.9 SABMiller PLC
6.4.10 United Breweries Group (UB Group)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/jjt88f
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