Premium Lager Market 2019- Global Industry Analysis, Size, Share, Growth, Trends and Forecast - 2025
The Global Premium Lager Market stood at USD 162 billion in 2018 and is expected to grow at a CAGR of 7% between 2018 and 2026.
Lager is a type of beer conditioned at low temperatures. Lagers can be pale, amber, or dark. Pale lager is the most widely consumed and commercially available style of beer. Many premium lager vendors have gained high popularity among consumers because of its authentic taste. The adoption of the keg packaging and dispense format, especially by small producers, has been an important factor behind the increasing customer interest in the premium craft lager category.
The report covers all the major trends and drivers playing a vital role in the growth of the global market. The market has been segmented on the basis of region, product, and distribution channel.
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Market Dynamics: Drivers, Restraints, Opportunities Challenges:
The global Premium Lager Market is primarily driven due to the premiumization of products within the lager category is also driven by vendors’ eagerness to rebrand their products as premium. Brewers operating worldwide are trying to push high-end products to lure consumers into spending more. The growth of alcoholic beverages such as premium Lager is driven by an increase in global young?adult demographic, the surge in disposable income, and a rise in consumer demand for premium/super-premium Lager. Also, new market strategies and creative packaging have been introduced by manufacturers. The growing number of specialist stores and shops worldwide has increased the accessibility and availability of premium lagers, which is one of the major drivers behind the growth of the premium lagers market over the last five years. The growth of the premium lager market is also supported by the frequent number of distribution deals between specialist retailers and vendors
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Global Premium Lager Market By Product Type:
In 2018, Premium Conventional Lagers accounted for the significant share in the market. However, premium craft expected to grow at a significant pace due to a shift in consumer preferences and rising per capita income. Furthermore, improving brewing process technology, coupled with the usage of the finest quality of raw materials by manufacturers, has enhanced the overall characteristics of the product.
Major manufacturers are launching their products in developing countries, such as India, to gain a competitive edge in the market. For instance, in June 2018, Victory Brewing Company has introduced its standard lager beer in the Indian market.
Premium Lager market is highly competitive, and thus, manufacturers continuously focus on developing new strategies to grab more number of customers across the globe. Over the coming years, companies are expected to focus on potential growth markets for Premium Lager.
To that end, besides expanding their presence, companies are expected to formulate effective distribution strategies to make their presence felt in the upcoming markets for Premium Lager. Merger, acquisition, and product development are key strategies adopted by leading players — for instance, the creation of strategic alliances with all the stakeholders in the value chain.
The major players include Heineken N.V., Anheuser-Busch InBev, Asahi Group Holdings Ltd., Carlsberg Breweries A/S, and Constellation Brands Inc. Other prominent players in the market are Snow Beer, Kirin, Boon Rawd Brewery, Diageo plc, and BREWDOG.
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