Beer Market Outlook and Opportunities By 2030
The global beer market size was valued at USD 793.74 billion in 2022 and is expected to be worth USD 821.39 billion in 2023. The market is projected to reach USD 1,072.50 billion by 2030, recording a CAGR of 3.88% during the forecast period.
Beer is one of the most popular beverages in the world as it has low alcohol content as compared to other alcoholic drinks, making them popular among youngsters and millennials. These drinks come in a wide range of flavors and formulations, giving customers a variety of products to choose from. Flavored beer was regularly consumed in regions, such as North America and Europe. However, the demand for this beverage has grown tremendously across the world, which will positively impact the beer market growth.
Fortune Business Insights™ displays this information in a report titled, “Beer Market, 2023-2030.”
LIST OF KEY COMPANIES PROFILED IN THE REPORT
- Anheuser-Busch InBev (Belgium)
- Heineken N.V. (Netherlands)
- China Resources Breweries (China)
- Carlsberg A/S (Denmark)
- Diageo Plc (U.K.)
- Molson Coors Beverage Company (U.S.)
- Boston Beer Company (U.S.)
- Asahi Group Holdings Ltd (Japan)
- Kirin Holdings Co. Ltd (Japan)
- Beijing Yanjing Beer Group Corporation (China)
Source Link :
https://www.fortunebusinessinsights.com/beer-market-102489
Segments:
Lager to Dominate Due to Rising Preference for Premium Beverages with Low Alcohol Content
Based on type, the market is segmented into lager, ale, stouts, and others. The lager segment held a dominant beer market share as customers are increasing their preference for high-quality drinks with low alcohol content.
Off-trade Distribution Channel to Gain Traction Due to Low Cost of Products Offered
Based on distribution channel, the market is divided into on-trade and off-trade. The off-trade segment held the largest share in the market as these channels are known to offer beers at a lower cost as compared to on-trade channels.
Macro Brewery Production to Gain Popularity for its Easy Product Availability
Based on production, the market covers microbrewery and macro brewery. The macro brewery segment is dominating the market as it is one of the most effective production methods and there is a rising demand for new flavors among millennials.
Premium Beers to Witness Robust Adoption Due to Demand for High Quality Beverages
Based on category, the market is segmented into standard and premium. The premium segment holds a major share in the market and is anticipated to dominate this industry during the forecast period as there is a growing demand for beverages made from high-quality ingredients.
Glass Bottle to Be a Major Packaging Material to Offer Premium Appearance
In terms of packaging, the market is bifurcated into glass bottle and metal can. The glass bottle segment may hold a leading market share as it offers a premium look to the end product and is sustainable, reliable, reusable, and 100% recyclable.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report provides valuable insights about the industry. It also offers a detailed analysis of its distribution channels, utility, types, availability of raw materials, their market size, and growth rate for all possible segments in the market. The report also provides an elaborative analysis of the market dynamics and competitive landscape. Many key insights presented in the report are an overview of recent industry developments such as mergers & acquisitions, regulatory scenario in critical countries, related markets, and key industry trends.
Drivers and Restraints:
Rising Disposable Income and Large-Scale Westernization to Boost Market Growth
Regions, such as South America and Asia Pacific, are noticing an incredible improvement in the disposable income of their populations, which has prompted them to splurge on expensive brands. Moreover, more cultures are adopting western customs to boost their social status, further driving the market growth.
However, strict regulations on beer advertising and market may hinder the market’s outlook.
Regional Insights:
Europe to Dominate Market with Growing Beer Consumption
Europe is expected to capture the largest share in the market during the forecast period as beer is an important part of the region’s heritage, culture, and nutrition. Moreover, the European Union is one of the world’s leading producers of this alcoholic beverage, which will further drive the regional market growth.
Asia Pacific is the second-largest market as beer manufacturers are witnessing this region as a vital market. Countries, such as India, Australia, and China, are leading consumers of this drink, thereby boosting the regional market’s development.
Competitive Landscape:
Market is Highly Consolidated Due to the Strong Presence of Key Companies
The market has a vast presence of leading players who are concentrating on the launch of new products and engaging in mergers and acquisitions to cement their market position. Some of these key companies include Anheuser-Busch InBev, Carlsberg A/S, China Resources Breweries, Heineken N.V., and Molson Coors Beverage Company.
Key Industry Development:
October 2022: BIRA-91 announced that it had acquired India’s largest alcohol beverage chain, The Beer Café in an all-stock deal. With this move, BIRA 91 gained retail presence while the pub chain got BIRA’s support in innovation and supply chain.
