NEW YORK, April 9, 2021 /PRNewswire/ --
The beer market is expected to grow by $ 88.70 bn, progressing at a CAGR of over 2% during the forecast period.
NEW YORK, April 9, 2021 /PRNewswire/ --
The beer market is expected to grow by $ 88.70 bn, progressing at a CAGR of over 2% during the forecast period.
The increasing demand for premium beers, rising demand for beer in emerging economies and growth of online retailing are the major factors propelling the market growth. However, factors such as presence of stringent regulations and high rate of taxes on alcoholic beverages, concerns about health, intense competition in the market will hamper the market growth.
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Beer Market: Distribution Channel Landscape
Based on the type, the on-trade segment is expected to witness lucrative growth during the forecast period.
Beer Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 40% of the market's overall growth is expected to originate from APAC. China is a key market for beer in APAC. The increasing popularity and acceptance of beer, growing middle-class population, growing per capita income, and the rising preference for drinking beer among the millennial population will facilitate the beer market growth in APAC over the forecast period.
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Five Forces Analysis
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