The global Craft Beer Market is predicted to be valued 76.3 billion USD in 2020 and 81.64 billion USD in 2021. During the forecast period 2022-2032, the market will expand at a 6.9% CAGR. This market is expected to be valued US$ 174.68 billion by the end of 2032.
In 2022, the worldwide craft beer industry will be worth $89 billion. The market value is predicted to double during the evaluation period 2022-2032. According to these consumption trends, the Craft Beer market is expected to increase at a 7% CAGR between 2022 and 2032.
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Market Outlook:
According to a market research and competitive intelligence firm, the global craft beer industry grew at a CAGR of more than 5% between 2017 and 2021. The vast majority of people throughout the world drink craft beer. The craft beer scene is growing by the day. There would be no craft beer culture without customers and brewers.
During the pandemic crisis, sales plummeted drastically, particularly in the first half of 2020. The global shutdown wreaked havoc on supply chain networks, necessitating logistical preparations to be changed in order to make the final product available to purchasers. As the year progressed and infections decreased, these restrictions were relaxed, restoring sales potential. There is a craft beer community that is passionate about the product.
Competitive Landscape:
Strategic alliances enable businesses to increase output and meet customer demand, hence boosting revenue and market share. End-users will be able to enjoy objects flavored by nature when new commodities and technology are introduced.
On October 1st, 2020, AB InBev, one of the world’s largest breweries, completed the long-awaited takeover of the Craft Brew Alliance. In addition, AB InBev paid $220 million for the remaining 68.8% of the company’s shares, giving them entire control.
On August 12, 2021, Coca-Cola FEMSA, the Mexican bottling company, disclosed the acquisition of the Brazilian beer brand Therezopolis in order to penetrate the Brazilian Craft Beer market.
Key Players:
- Anheuser-Busch InBev SA/NV
- Heineken Holding N.V
- Boston Beer Company Inc.
- Molson Coors Brewing Co.
- Duvel Moortgat NV
- FIFCO USA
- Bells Brewery Inc.
- G Yuengling & Sons Inc.
- Sierra Nevada Brewing Co.
- Stone Brewing Co.
- New Belgium Brewing Company
- MillerCoors LLC
- Mark Anthony Brands Inc.
- Alaskan Brewing Company
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Low alcohol by volume (ABV) preferences- a significant market opportunity
Consumers are becoming more health-conscious as they gravitate toward low-alcohol beverages, and sales of no-alcohol and low-alcohol beers are increasing as a consequence of greater competition from new, improved taste-enhancing products.
Low-alcohol beers and ciders have grown in popularity due to increased knowledge of alcohol usage and a desire to explore new beverages. This trend is visible in the demand for low alcohol drinks by volume in the United Kingdom, where off-license and supermarket sales have hit record highs.
Regional Analysis:
North America is expected to account for the lion’s share of the rising demand for craft beer through 2032. The diversity of independent microbreweries and large-scale manufacturing of craft beer has been the primary cause for craft beer’s popularity in the American market.
Independent brewers and small business assistance have contributed to the growth of the craft beer sector. They have made significant contributions to the growth of this sector. According to Fact.MR, the North American craft beer business is expected to have a 36% market share.
When it comes to the spread and growth of craft beer, Asia is often recognized as one of the fastest-growing areas. Craft beer has grown particularly rapidly in India and China. The market has expanded dramatically in recent years, thanks to rising citizen incomes, expanding urbanization, and the expansion of beer firms.
Key Segments of Industry:
- By Product
- Brown Ale
- Pale Ale
- Porter
- Stout
- Pale Lager
- Pilsner
- Marzens
- Bocks
- Other
- By Brewer
- American Sour
- Non-Alcoholic
- Belgian Fruit Lambic
- Flanders Red Ale
- Belgian Gueuze
- Sales Channel
- Microbreweries
- Brewpubs
- Contract Brewing Companies
- Independent Regional Craft Brewing Companies
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