Craft Beer Market Overview:
According to IMARC Group latest report titled “Craft Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on craft beer market analysis. The global craft beer market reached a value of US$ 103.85 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 200.62 Billion by 2027 exhibiting a CAGR of 11.20% during 2022-2027.
Craft beer is an alcoholic beverage produced in a traditional or non-mechanized way by an independent microbrewery. It is made from natural ingredients and is a rich source of antioxidants, protein, and vitamin B complex. Craft beer is made using a complex process of brewing that includes many steps compared to conventional beer. As a result, it has a richer and more distinct taste than the beer manufactured by large breweries. In recent years, craft beer has gained traction across the globe, especially among the young population due to its lower cost and higher alcohol by volume (ABV) content.
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The market is primarily driven by the escalating demand for low-alcohol beverages across the globe due to the increasing health-consciousness among individuals. Besides this, the market is further propelled by the growing number of restaurants, lounges, bars, and pubs serving alcoholic beverages. Moreover, key manufacturers are introducing unique flavors, such as sweet and sour, spicy, honey-like, and fruity, to meet the changing consumer preferences and expand their product portfolio. This, coupled with the widespread adoption of go-green technology and innovative methods to produce craft beer while minimizing water usage and wastage, is creating a positive market outlook across the globe. Furthermore, the rising popularity of non-alcoholic craft beer, ongoing research and development (R&D) activities, and availability of affordable product variants are some of the other factors anticipated to propel the market growth.
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Anheuser-Busch InBev SA/NV
- Bell’s Brewery Inc.
- Constellation Brands Inc.
- G. Yuengling & Son Inc.
- Diageo Plc
- Duvel Moortgat
- Heineken NV
- New Belgium Brewing Company Inc.
- Oskar Blues Brewery LLC
- Sierra Nevada Brewing Co.
- Stone & Wood Brewing Co. (Lion Brewery Co)
- The Boston Beer Company Inc
Craft Beer Market Segmentation:
Our report has categorized the market based on region, product type, age group and distribution channel.
- 21–35 Years Old
- 40–54 Years Old
- 55 Years and Above
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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