Asia Pacific Beer Market to Exhibit 5.0% CAGR during 2014-2020 due to Growing Demand from China

According to a recent market research report published by Transparency Market Research, the Asia Pacific beer market is estimated to expand at a CAGR of 5.0% during the period between 2014 and 2020. The report, titled “Asia Pacific Beer Market - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” projects the Asia Pacific beer market to stand at a valuation of US$220.36 bn by 2020. The market was worth US$155.93 bn in 2013.

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Beer is one of the most widely consumed and oldest alcoholic beverages in the world. Recent archaeological excavations in China have revealed a 5,000-year old brewery, pointing out the historical consumption of beer in Asia Pacific. The growing demand for innovative flavored beer and crafted beer has boosted the growth of the beer market in Asia Pacific.

The report points out that a rise in disposable incomes, the impact of Western culture, and increase in beer consuming working class consumers have propelled the growth of the Asia Pacific beer market. An increase in the number of convenience stores, liquor shops, retail stores, malls, restaurants, and bars has also supported the growth of the market. However, government regulations regarding alcohol consumption threaten to impede the regional market’s growth during the forecast period. Furthermore, consumers are also becoming aware of the negative effects of regular alcohol consumption. The APAC market has a huge opportunity to grow with the increasing preference for unique beers.

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Depending on type, the report segments the Asia Pacific beer market into mainstream, premium, and economy. The mainstream beer segment held 33% of the market in 2013 and emerged as the leading segment. The growing demand for mainstream beer has significantly helped established brands by improving production at their local manufacturing units. This has led to the availability of quality beer at affordable prices. On the other hand, during the forecast period, the premium beer segment is anticipated to expand at a CAGR of 4.60%.

The report studies the Asia Pacific beer market across some of the key countries such as Japan, China, India, Australia, South Korea, Singapore, Vietnam, and others. In 2013, China was the largest consumer of beer in the region due to the increasing income level and the country’s high population. The growing demand for beer across Singapore, India, and South Korea is likely to support the growth of the regional market during the forecast horizon.

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This release was published on openPR.