Global Craft Beer Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to -2023
Summary -
A new market
study, titled “Global Craft Beer Market - Upcoming Trends,
Growth Drivers and Challenges – Forecast to -2023” has been featured on WiseGuyReports.
Market Scenario
Craft beer market has witnessed experiments with various available
flavors, which has gained craft beer high popularity. Unique flavors and
processing methods of craft beer attract consumer towards consumption, thus
raising sale its sale. Manufacturers are investing hugely into the production of
their unique beer products through microbreweries to enter into the market,
which has further increased the sale of craft beer. More than 70% of the total
breweries in the U.S. are manufacturing craft beer. Moreover, retail of craft
beers that directly through microbreweries, is cheaper than brewpubs, which is
also one of the major reasons for the rising inclination of consumers towards
craft beer varieties. Hence, rising number of microbreweries globally in seen
as an opportunity for the craft beer market growth.
Regional Analysis
The global craft beer market has been segmented by region which comprises
North America, Europe, Asia Pacific and Rest of the World. North America is
estimated to retain its dominance throughout the forecast period of 2017-2023.
North America region is estimated to be valued at USD 50.63 billion by the end
of 2023. The major factors responsible for the growth of North America Craft
Beer market are increase in the demand for chemical-free beer, increase in the
working class population, rising pub culture, and increasing demand for
flavored beer. The sale of Craft Beer is growing exponentially, but as
consumers are becoming conscious of a healthy lifestyle, key players are
focusing on R&D and product improvement and hence, fortified craft beer,
gluten-free craft beer are gaining popularity in North America. However, Asia
Pacific region is projected to expand at a high CAGR during the forecast
period. Rising disposable income, especially among the working class consumers,
has significantly contributed in the growth of the craft beer market in Asia
Pacific. Furthermore, the increased number of bars, pubs, and lounges serving
in-house craft beer across Asia Pacific, has also supported the growth of the
craft beer market in the region. In addition, the ever-growing population of
the region has also boosted opportunities for the craft beer market.
Segments
Craft beer market, by type has been segmented into ale, lager and stouts
& porters. Ale is estimated to hold major market share in the global craft
beer market and is expected to witness a CAGR of 7.29% during the forecast
period. On the basis of raw material, the market is segmented into malt, yeast,
enzymes, hops and others. Enzymes is expected to observe high growth rate
during the forecast period.
Key Players
The leading market players in the global craft beer market primarily are
Boston Beer Co. (U.S.), Yuengling & Son Inc. (U.S.), New Belgium Brewing
Company, Inc. (U.S.), Deschutes Brewery, Inc. (U.S.), Bell's Brewery, Inc.
(U.S.), Duvel Moortgat USA Ltd. (U.S.), and SweetWater Brewing Company, LLC
(U.S.).
Target Audience
• Craft beer manufacturers
• Raw material suppliers
• End-use
• Retailers & Wholesalers
• E-commerce companies
• Traders, importers and exporters
Key Findings
• U.S. is estimated to reach USD 21.00 billion by the end of 2023 with
registering a CAGR of 6.77% during the forecast period.
• Germany is one of the lucrative destinations among the craft beer
manufacturers. Germany is projected to reach USD 10.38 billion by the end of
forecast period with obtaining a substantial growth rate of 7.12%.
Regional and Country Analysis of craft beer Market Development and Demand
Forecast to 2023 Market
As per MRFR analysis, global craft beer value market is poised to reach
USD 135.54 billion in 2023; expanding at a CAGR of 7.02 % during the forecast
period.
The reports also cover country-level analysis of:
North America
• U.S.
• Canada
• Mexico
Europe
• Germany
• U.K.
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Thailand
• Japan
• Rest of Asia Pacific
Rest of the World
• Latin America
• Middle East
• Others
FOR MORE DETAILS : https://www.wiseguyreports.com/reports/3176675-global-craft-beer-market-research-report-forecast-to-2023
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