The global craft beer market is expected to reach USD 502.9 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness substantial growth over the forecast period on account of the rising demand for low alcohol by volume (ABV) and flavored beer.
The government in countries including Australia, New Zealand, Belgium, Mexico, China, and the UK are promoting the production of craft beer and incorporation of new breweries on account of the positive contribution of the industry towards economic development and employment generation coupled with the willingness of the consumer to pay extra for better tasting brews.
Australia, Belgium, Germany, U.S. and New Zealand are the major craft beer producing countries with over 65% of the overall production in terms of value as well as volume. Belgian is the most preferred beer among the major craft beer consuming countries owing to the premium quality, clean taste and rich flavor & aroma of the brews.
Furthermore, the number of brewers in the global market is growing significantly on account of the rising demand for the product. As a result, the demand for grains such as barley, wheat, yeast, sugar, and hops is increasing substantially. However, the alternative applications of the raw materials are expected to lower the bargaining power of the brewers.
The demand for the pale ale, IPA, and amber ale is growing as these three craft products are widely preferred by the consumers owing to the balanced composition of the raw materials in the product including malt, hops, water, and yeast.
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Distribution Insights
The on-trade distribution refers to the sale of the alcoholic drinks in bars, restaurants, clubs, pubs and other distribution channels in the hospitality industry. The on-trade craft beer is expensive as compared to off-trade; as a result, the market is growing substantially in developed economies on account of the high hospitality industry growth coupled with high consumers’ spending ability.
Off-trade distribution (distribution through retail stores, wholesalers, and online stores) market is expected to witness significant growth in developing and emerging economies on account of the low to medium consumer buying power. In addition, the growing penetration of the product in countries including Brazil, China, India, and Mexico with increasing consumer spending power is expected to compliment the growth over the next nine years.
Regional Insights
Europe is expected to account for the largest market share in terms of value as well as volume. High consumption coupled with consumer preference for flavored brews is expected to drive market growth over the projected period. Germany and UK are the largest consumers of this spirit accounting for over 25% of the overall revenue share.
The Middle East & Africa and Central & South America are expected to be the fastest growing regions owing to the rising penetration of the product in Brazil and South Africa. Low ABV with a wide range of flavors is expected to be the major factor for the market growth in these countries. In addition, the increasing penetration in United Arab Emirates is likely to contribute to the market growth over the next nine years.
The market in North America is expected to witness growth on account of the shift in the consumer preference for craft brews over the mainstream beer. The U.S. is expected to account for the largest market share with Mexico as the fastest growing country in the region.
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