IMARC Group has recently released a new research study titled “Beer Industry Analysis: Global Market Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the beer industry?
According to the latest research report by IMARC Group, the global beer market size reached US$ 660.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 747.7 Billion by 2028, exhibiting a growth rate (CAGR) of 1.9% during 2023-2028.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Beer is an alcoholic beverage made with hops, water and various cereal grains, such as wheat, rice, corn, and rye. The alcohol content in beer ranges from less than 3% to 40% alcohol by volume (ABV), depending upon the style and recipe of the formulation. Beer can help in preventing diseases related to the heart and circulatory system, including atherosclerosis, angina, stroke and heart attack, if consumed in a controlled manner. However, with increasing health concerns associated with the consumption of alcohol, the popularity of alcohol-free and low-alcohol beer is rising among consumers.
What are the major market drivers in the beer market?
One of the key growth drivers of the global beer industry is the premiumization of beer. Nowadays, manufacturers are using high-quality ingredients and special brewing techniques to produce superior products. Besides this, brewers are introducing new flavors, such as strawberry, blueberry, chocolate, peach and lemon, to enhance the taste and expand their consumer base. For instance, Natural Light, a reduced-calorie light beer brand by the American brewing company Anheuser-Busch, has recently launched Naturdays, a strawberry lemonade-flavored beer. Moreover, there has been an increase in the demand for beer, especially in developing countries, owing to the large young population pool. This has encouraged several international alcohol brands to invest in these regions.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global beer market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, packaging, production, alcohol content, flavor and distribution channel.
Breakup by Product Type:
- Standard Lager
- Premium Lager
- Specialty Beer
Standard lager dominates the market as it contains low-calorie than product other types.
Breakup by Packaging:
- PET Bottle
- Metal Can
Glass accounts for the largest market share as it is one of the commonly used conventional materials for the packaging of beer.
Breakup by Production:
At present, macro-breweries dominate the market as they can produce and distribute beer in large quantities.
Breakup by Alcohol Content:
The high alcohol content in beers is presently dominating the market, which can be attributed to a better taste and raw material quality.
Breakup by Flavor:
At present, flavored beer leads the market as it is available in a variety of tastes.
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Convenience Stores
The majority of the beer is distributed through supermarkets and hypermarkets on account of the wide array of product variants offered.
- Regional Insights:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The Asia Pacific holds the majority of the market share due to the emerging trend of socializing and work parties.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/beer-market
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Asahi Group Holdings, Ltd., ANHEUSER-BUSCH INBEV SA/NV, Beijing Yanjing Beer Group Corporation, Carlsberg Group, Diageo plc, Dogfish Head Craft Brewery Inc., HEINEKEN N.V., Sierra Nevada Brewing Co., Grupo Modelo, United Breweries Limited (UBL), Oettinger Brauerei GmbH, Kirin Holdings Company Limited, Molson Coors Beverage Company, and Tetra Laval Group.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic