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Craft Beer Market Key Players Business Strategies Analysis | Omer Vander Ghinste, D.G. Yuengling and Son, Stone & Wood Brewing Co., The Boston Beer Company, Sierra Nevada Brewing Co.
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Craft beer indicated to the beer that is conventionally manufactured. Being a part of the microbrewery sector, craft beer forma a comparatively smaller segment of the overall global beer market. High cost of production and exclusivity of the product is the reason behind its high prices. Expensiveness, coupled with the fact that the majority of the micro-breweries have little global recognition thanks to the smaller scale of the industry, has made the craft beer sector as one of the more specialized and small segment of the global beer market, but one that holds a considerable share overall.
The increasing demand for craft beer and the rising consumption across the established economies are the chief factors for driving the growth of the global craft beer market over the course of the given forecast period. In addition to this, the increasing demand for flavored drinks across the world are expected to augment the growth of the global craft beer market during the aforementioned forecast period of 2017 to 2025. The general acceptance of beer as a social beverage is expected to be another important factor responsible for driving the overall growth of the global craft beer market in the near future.
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The market for craft beer, however, witnessed a sluggish growth in some of the most established market in the recent years. For instance, in the U.S., the biggest market for beers, consumption as well as production volumes have steadily reduced in the last few years. In other important market such as Germany, France, and the U.K. also, the consumption and production volumes of the craft beer have continued to tumble over the last few years. A number of reasons, including the increasing popularity of substitute beverages such as wine, cider, and other healthy drinks, growing strict regulations on drinking, and financial slowdowns are expected to slow down the progress of craft beer market in these regions.
The global market for craft beer can be segmented into key regions such as Latin America, Asia Pacific, North America, Middle East and Africa, and Europe. Of these regions, the Asia Pacific market is expected to lead the market over the next few years owing to a considerable contribution from Japan, New Zealand, and Australia.
Some of the key players in the global craft beer market include names such as Omer Vander Ghinste D.G., Chimay Beers and Chesses, The Boston Beer Company, and New Belgium Brewing Company among others.
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