Craft brewery or a microbrewery is a brewery which produces a small amount of beer, typically much smaller than large-scale corporate breweries and it is independently owned. Quality, flavour and brewing technique majorly certify these breweries. Although the beer industry had attained a peak stage particularly in developed markets, the flavour revolution has begun higher sales worldwide, and this innovation is visible in the form of craft beer. Craft beer has gained its popularity as consumers want to keep experimenting with the various available flavours of the beer.
Global Craft Beer Market Size & Growth:
The global craft beer market accounted for $38.18 billion in 2017, and it is expected to attain $96.12 billion by 2024. Global craft beer market forecast during 2019-2025 is expected to grow with a CAGR of 14.1%.
Drivers that are influencing beer market growth are growing preference for low alcohol by volume, and growing popularity among younger populations and craft beer is chemical free and maintains high naturality in beer.
On the flip side, higher prices and taxes on the cost of supplies and difficulty in finding craft breweries are the factors hampering the market growth. Craft beer is more expensive compared to industrial beer also effects the growth rate.
Innovations with flavours and other ingredients are the opportunities that enhance the growth of the market in future.
Global Craft Beer Market Share:
The global craft beer market is segregated into type, distribution and region. Based on the type, the market is divided into Pilsners, Pale Lagers, Ales, Specialty and others. Consumers are interested in preferring new styles and flavours in craft beer which tends to boost its marketability. Ales is the most significant selling type among all
Based on Distribution, global craft beer market segmentation includes off-trade and on-trade. On-trade distribution is known as the alcoholic drinks that are sold in bars, restaurants, clubs and pubs and similar channels. On-trade of global craft beer market scope is accounted for over 50% in 2015 of the overall volume share, due to increasing the high consumption by the consumers of the products in restaurants, bars, and clubs in developed economies including UK, Australia, and Belgium. In Off-trade distribution, craft beer is distributed through retailers, wholesalers, and online channels.
By geography, global craft beer market is segmented into North America, Europe, APAC, South America and the Middle East and Africa. Global craft beer market is highly dominated by North America due to high demand, production and consumption of craft beer in the region. North America market region can be divided into the US, Canada and Mexico. The Middle East & Africa and South America are expected to be the fastest growing regions owing to the rising penetration of the product in Brazil and South Africa. Due to low alcoholic beers with a wide range of flavours are expected to be the significant factor in market growth in these countries anticipate the highest growth in craft beer market forecast period from 2019-2025. According to the global craft beer market overview, the market share of unorganised players is expected to increase in coming years in the global forecast period 2019-2025. The craft beer market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions
Major players operating the craft Beer market include Heineken Boston Beer Co, Yuengling & Son Inc, New Belgium Craft Brewery, Deschutes Brewery, Bell’s Brewery, Duvel Moortgat, and Sweetwater Brewery among many others.
Global Craft Beer Market Trends:
Global Craft Beer Market Research Report:
Along with these companies, there were many other companies considered/ cited in the report while analysing the craft beer market. These companies hold substantial share-owning to the nature of the industry whereas the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and stable customer base.
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