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Beer Market Big Players(Including Asia Pacific Breweries, Grupo Modelo S.A. de C.V., Carlsberg Group & Tsingtao Brewery Co., Ltd) Focusing On Product Advancements For Business Expansion by 2024
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Increasing disposable income of individuals in developed and developing countries, rapid changes in lifestyle, and creative marketing and innovative promotional strategies by the market players are some of the key factors driving the beer market growth.
New innovation of the technology which may improve the quality of beer consumed is a growth opportunity which is likely to fuel the demand for beer in the years to come. On the other hand, some of the factors restraining the growth of the beer market include demographics, climatic conditions, stringent government regulations, tax duties and seasonality.
Some of the key drivers impelling the growth of beer market include creative marketing, growing disposables income of the people and innovative promotional strategies. In addition, there is a rise in demand for beer due to its increased popularity among individuals, especially the youth.
The global beer market is greatly dominated by Europe, which is further followed by North America. It is expected that there will be a moderate growth in the Europe and the United States owing to the fact that these regions have already reached maturity. Asia pacific region is showing the fastest growth in the beer market due to growing youth population, increasing disposable income of the people.
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Some of the competitors in the market are Asia Pacific Breweries, Grupo Modelo, Carlsberg Breweries A/S, Heineken N.V., Molson Coors Brewing Company, Kirin Brewery Company Limited, Tsingtao Brewery Company Limited and Yanjing Brewery, Anheuser-Busch InBev, Sapporo Breweries, Asahi Breweries, SABMiller, Scottish & Newcastle and Anheuser-Busch Companies Inc.
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