Portland, OR, Nov. 16, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global lager market was accounted for $292.4 billion in 2020, and is estimated to reach $392.0 billion by 2030, growing at a CAGR of 2.7% from 2021 to 2030.
Increase in disposable income, changing consumer preferences, advent of flavored and strong lagers, and surge in number of craft breweries have boosted the growth of the global lager market. However, strict government policies, volatile raw materials prices, and availability of substitutes hinder the market growth. On the contrary, growing millennial population, developing markets, and popularity of lager among young population are expected to open new opportunities for the market players in the future.
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Covid-19 scenario:
- Due to Covid-19 pandemic, the market witnessed business stagnation in export and import activities.
- During the pandemic, the restaurants, bars, and breweries were closed, which hampered the demand for lager across the globe.
- The prolonged lockdown disrupted the supply chain and increased the prices of raw materials.
The report divides the global lager market on the basis of packaging, price point, distribution channel, and region.
Based on packaging, the glass segment held the largest share in 2020, accounting for more than two-thirds of the market. However, the metal can segment is projected to manifest the highest CAGR of 3.9% during the forecast period.
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On the basis of distribution channel, the off trade segment held the lion’s share in 2020, contributing to nearly four-fifths of the market. However, the on trade segment is estimated to portray the highest CAGR of 10.2% from 2021 to 2030.
The global lager market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 3.5% during the forecast period.
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The global lager market report includes an in-depth analysis of the prime market players such as Anheuser-Busch InBev, Carlsberg A/S, Founders Hill Brewing Co., LLC, Lakefront Brewery Inc, Diageo Plc, Squatters Pubs and Craft Beers, Anchor Brewing Co., LLC, Sierra Neveda Brewing Company, The Boston Beer Company and United Breweries Limited.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
