NEWARK, Del, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The beer market size is projected to be valued at US$ 690.0 billion in 2023, and is expected to rise to US$ 996.0 billion by 2033. The sales of beer are expected to record a significant CAGR of 3.7% during the forecast period.
One of the key factors positively affecting the demand for beer globally is the rise in taste for premium alcoholic beverages due to the increasing trend of socializing and gatherings.
The market is further expanding as a result of distilleries using beer as a cocktail ingredient. Additionally, the growing custom of giving beer in personalized bottles is promoting market expansion.
Through e-commerce channels, key players are introducing flavored beer in unique varieties like botanicals and fruits to cater to the growing millennial population. This is helping to boost the industry together with the expanding trend of buying beer through online distribution channels, which provide easy product availability, extensive catalogs, and quick shipping options.
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In the upcoming years, it is anticipated that protracted promotional campaigns and celebrity endorsements by product manufacturers on social media platforms are likely to have a positive impact on beer sales.
Key Takeaways:
- Based on product type, ale is leading the segment with a CAGR of 3.6%. Since the COVID-19 pandemic, traditional beer consumption has fallen, but ale consumption has increased among young generations. During the forecast period, ale is anticipated to surpass traditional beers in popularity.
- The bottles segment witnessed a commendable growth of 3.4% in the packaging segment. The ease of handling and transportation of these bottles are convenient, they can also be easily recycled, which provides cost-effectiveness.
- With a CAGR of 3.5%, the United States is predicted to experience significant growth. Some of the factors anticipated to drive up the beer market include the region's expanding young-adult population and rising beer demand.
- The United Kingdom beer market is to contribute US$ 41.9 billion from 2023 to 2033. The beer industry in the United Kingdom is diverse and made up of small and medium-sized businesses that include microbreweries and breweries operating at general, local, and regional levels, with prominent breweries that are leaders all over the world
- China is among the lucrative regions, contributing an astonishing revenue of US$ 71.5 billion by 2033. The region's manufacturers are being compelled to increase production to keep up with the country's growing beer consumption.
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The Dominant Market Players
The four leading players dominate the market by more than 50%, indicating that it is centralized. Consolidation is taking place as a result of these players acquiring smaller, independent regional brewers. Examples from the recent past include the establishment of Carlsberg Marston's Joint Brewing Company in 2021, the acquisition of Greene King (at the time the leading independent brewer in the United Kingdom) by CK Asset Holdings in 2019, and the acquisition of Fuller's by the Japanese brewer Asahi Group Holdings, Ltd.
Heineken N.V., Carlsberg A/S,United Breweries Holdings Limited, Devans Modern Breweries Ltd., Diageo PLC, Carlsberg India Pvt. Ltd., Anheuser-Busch InBev., B9 Beverages Pvt. Ltd., Crown Beers India Limited (AB InBev),Radico Khaitan Ltd., Beijing Enterprises Holdings Limited, Dogfish Head Craft Brewery, Inc., Squatters Pubs and Craft Beers, Sierra Nevada Brewing Co. and The Boston Beer Company, Inc.
Latest Developments:
- In August 2021, the award-winning hazy and fruity pale ale, Moon Haze, from the Canadian multinational brewing company Molson Coors Beverage Co., is likely to be available in the United States.
- In July 2021, Dutch multinational brewer Heineken NV declared that it has taken control of United Breweries Limited (UBL) in India during the annual general meeting of UBL.
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Given Below are the Beer Market Segments
By Product Type:
- Ale
- Lager
- Stouts
- Others
By Packaging:
- Can
- Bottle
- Glass
- Others
By Production:
- Macro-brewery
- Microbrewery
- Craft Brewery
- Other
By Distribution Channel:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Independent Retailers
- Online Retailers
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
Table of Content:
1. Executive Summary | Beer Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
Complete TOC with Report Preview: https://www.futuremarketinsights.com/reports/beer-market
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