According to IMARC Group latest report titled “Craft Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on craft beer market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global craft beer market reached a value of US$ 103.85 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 200.62 Billion by 2027 exhibiting a CAGR of 11.20% during 2022-2027.
Craft beer refers to an alcoholic beverage that is produced in a traditional or non-mechanized process by a small, independent microbrewery. It is a rich source of antioxidants, silicon, vitamin B complex, and protein, thus offering several health benefits. It is known to have a richer and more distinct taste than the mass-produced beer manufactured at large breweries. It has a higher alcohol by volume (ABV) content and is manufactured using natural ingredients in a cost-efficient manner. Some of the commonly consumed craft beer varieties include ales, wild/sour beers, hybrids, lagers, wheat beers, stouts, and specialty beers.
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The rapid outbreak of coronavirus disease (COVID-19) and the consequent implementation of mandatory lockdown restrictions had a negative impact on the global craft beer market. Due to the shutdown of numerous pubs, bars, and restaurants on account of the stringent lockdown regulations to prevent the spread of coronavirus, the demand for overall beer declined. Therefore, the craft beer market was adversely affected during the pandemic. Additionally, the disruption in the supply chain hampered the supply of raw materials and components, causing production delays, thereby hindering the market growth. However, the market regained momentum with the gradual ease of restrictions.
The global market is majorly driven by the increasing demand for low-alcohol content beverages. This is supported by the rising number of health-conscious consumers, along with growing awareness regarding alcohol consumption among the masses. Apart from this, the increasing opening of lounges, restaurants, pubs, and bars serving alcoholic beverages due to the rising socialization trends is significantly supporting the product demand on the global level. In addition to this, numerous key players are introducing a wider choice of flavors, such as sweet and sour, honey-like, fruity, and spicy, with enhanced taste to catalyze the product demand among consumers and expand their product portfolio, is acting as another growth-inducing factor. Moreover, the incorporation of innovative methods, along with go-green technology into the craft beer manufacturing process, is creating a positive market outlook. Some of the other factors driving the market further include rapid urbanization, the shifting lifestyle preferences of individuals, inflating disposable income levels of the masses, and extensive research and development (R&D) activities.
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Anheuser-Busch InBev SA/NV
- Bell’s Brewery Inc.
- Constellation Brands Inc.
- G. Yuengling & Son Inc.
- Diageo Plc
- Duvel Moortgat
- Heineken NV
- New Belgium Brewing Company Inc.
- Oskar Blues Brewery LLC
- Sierra Nevada Brewing Co.
- Stone & Wood Brewing Co. (Lion Brewery Co)
- The Boston Beer Company Inc
Craft Beer Market Segmentation:
Our report has categorized the market based on region, product type, age group and distribution channel.
Breakup by Product Type:
Breakup by Age Group:
- 21–35 Years Old
- 40–54 Years Old
- 55 Years and Above
Breakup by Distribution Channel:
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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