This market research report on Global craft beer market provides significant insights allowing businesses to analyse their business strategies. In addition, this study examines in depth the market segmentation of craft beer by-product (India pale ale, seasonal craft beer, pale ale, amber ale, and other craft beer) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The craft beer market report also includes information on a number of market participants, including Anheuser Busch InBev SA, Asahi Group Holdings Ltd., Bells Brewery Inc., Boston Beer Co. Inc., Omer Vander Ghinste, Buxton Brewery Co. Ltd., Carlsberg AS, D.G. Yuengling and Son Inc., Diageo Plc, Duvel Moortgat NV, Heineken NV, Kirin Holding
Craft Beer Market: Key Drivers, Trends, and Challenges
The research analysed historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced craft beer market drivers, trends, and difficulties.
Key Craft Beer Market Driver
Increasing craft beer popularity in developing nations is one of the primary factors driving the expansion of the craft beer market. Consistent economic expansion, particularly in APAC, MEA, and Latin America, has resulted in greater consumer earnings. The growing spending power of the middle-income population in these regions has caused customers to seek out more inventive food and beverage goods, which has led to an increase in demand for craft beer products. The huge increase in consumer spending in China and India, the world’s two most populous countries, is a favourable indicator for the global craft beer market.
In addition, the Millennial generation is emphasising on drinking less booze of higher quality. Craft beer has been popular among the younger generation due to its superior health benefits over mass-produced beer and the availability of novel varieties. A substantial increase in per capita income in established and developing nations is driving consumer demand for premium beer variants. Craft beer is favoured due to its authenticity, flavour, and brand value. Due to the growing demand for these beers, retailers provide premium beer variations. Craft beer’s appeal among Millennials is fuelling the expansion of the craft beer business.
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Key Craft Beer Market Trend
The increasing purchasing power of Millennials globally is another factor contributing to the expansion of the craft beer market. The spending power of Millennials is predicted to expand during the projection period. Millennials have a large purchasing capacity. Craft beer is gaining popularity among Millennials, who are more willing than other consumer categories to experiment with new varieties and flavours. Moreover, the rising disposable incomes of customers in developing nations like as India, where Millennials make up approximately 29% of the overall population, present a tremendous potential for global craft beer companies to expand their geographic footprint and increase their client base. Craft beer manufacturers are releasing products and launching marketing campaigns aimed at the Millennial demographic. During the forecast period, the Millennial generation is anticipated to play a significant role in the expansion of the worldwide craft beer market.
Key Craft Beer Market Challenge
Campaigns against alcohol consumption are the greatest obstacle inhibiting the expansion of the craft beer business. Many regulatory and social groups have launched campaigns against alcohol consumption and market actors in response to the rising frequency of alcohol abuse and alcohol-related accidents, especially among the younger population. Many groups in the United States, such as Mothers Against Drunk Driving (MADD), Students Against Destructive Decisions (SADD), the American Medical Association, and the National Center on Addiction and Substance Abuse, work to discourage alcohol usage. The extended usage of alcoholic beverages might result in a variety of health problems. People’s physical and mental health may be adversely affected by excessive beer drinking. It can result in blackouts, loss of coordination, convulsions, drowsiness, hypothermia, low blood sugar, vomiting, diarrhoea, bleeding, and irregular heartbeat. Long-term beer intake can result in mental disorders, heart disease, and liver failure. People’s health consciousness and desire for healthier lifestyles have prompted them to consume healthier drinks and beverages. The increased desire for non-alcoholic beverages, such as health drinks, has a negative impact on market expansion.
Globally, the use of alcoholic beverages has steadily decreased due to a shift in consumer desire for healthier, non-alcoholic beverages, which has been fueled by marketing and awareness efforts highlighting the negative health effects of alcohol. Increasing anti-alcohol initiatives in various nations may impede the expansion of the global craft beer market over the forecast period.
This craft beer market study report also includes extensive information on other forthcoming trends and obstacles that will have a significant impact on industry expansion. The practical information on trends and obstacles will aid businesses in evaluating and developing growth strategies for 2022-2028.
Who are the major market vendors for craft beer?
The study explores the competitive landscape of the market and provides information on several key vendors, such as:
Anheuser Busch InBev SA
Asahi Group Holdings Limited, Bells Brewery, Inc., and Boston Beer Company, Inc.
Omer Vander Ghinste Buxton Brewery Co. Ltd. Carlsberg AS
D.G. Yuengling and Son Inc. Diageo Plc Duvel Moortgat NV Heineken NV
Molson Coors Beverage Co., New Belgium Brewing Co., Inc., Sapporo USA Inc., and Shepherd Neame Ltd.
Thornbridge Brewery, Sierra Nevada Brewing Co.
VAN PUR SA is a subsidiary of United Breweries Ltd.
Which product segments generate the most revenue in the craft beer market?
During the projection period, the India pale ale (IPA) segment’s market share will increase significantly. IPA is the most popular form of craft beer worldwide, as it is available in a variety of unusual tastes and has a distinctively bitter taste due to the use of traditional hops. Countries such as the United States, China, Australia, the United Kingdom, France, Belgium, the Netherlands, and Poland are particularly fond of IPA. During the projected period, the increasing popularity of IPA among Millennial consumers will contribute to the expansion of this product sector.
This research gives an accurate forecast of the contribution of each segment to the expansion of the craft beer market, as well as actionable market intelligence on the impact of COVID-19 on each category.
What Key Data Does This Craft Beer Market Report Include?
- CAGR of the market between 2022 and 2026
- Detailed information on the elements that will fuel the expansion of the craft beer market over the next five years.
- Exact assessment of the size of the craft beer market and its contribution to the overall market.
- Accurate forecasts of forthcoming consumer trends and behavioural shifts
- The expansion of the craft beer business throughout North America, Europe, the Asia-Pacific, South America, the Middle East, and Africa.
- A comprehensive examination of the market’s competitive landscape and extensive vendor information.
- Exhaustive analysis of the elements that will impede the expansion of craft beer market providers
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