Craft Beer Market Grow at CAGR 13.8% from 2019 to 2024: Top Key Players Likes The Boston Beer Company, Inc, D.G. Yuengling & Sons, Inc, New Belgium Craft Brewery, Deschutes Brewery, North Brewing Company

Market Scenario

Global Craft Beer Market is projected to reach USD 96.2 Billion by 2024 and grow at a significant CAGR of 13.8% during the forecast period, 2019–2024. Craft beer is individually brewed batches of beer by small, independent breweries. Craft beer is generally made with ingredients such as malt, yeast, enzymes, and hop, and are available in a wide range of flavors. Craft beer is a rich source of silicon, which plays a role in increasing bone mineral density and prevents osteoporosis, risk of diabetes and Alzheimer.

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As consumers are becoming increasingly aware of the benefits of craft beer, the adoption rate of craft beer has been rising. Young consumers are primarily interested and attracted to spend on craft beer consumption owing to higher disposable income, and diversity in terms of flavor. Craft beer has gained its popularity as consumers want to keep experimenting with various available flavors of beer. Moreover, the increasing number of breweries across the globe is boosting the growth of the global craft beer industry. However, the low shelf life of the product acts as a restraint for the market growth.

Craft Beer Market Segmentation

The global craft beer market has been segmented based on type, ingredients, distribution channel, and region.

Based on type, the global market has been classified as ale, lager, stouts, and others.

Based on ingredients, the global market has been classified as malt, yeast, enzymes, hops, and others.

Based on distribution channel, the global market has been divided into on-trade and off-trade.

The global market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.

Key Players

The Boston Beer Company, Inc. (US), D.G. Yuengling & Sons, Inc. (US), New Belgium Craft Brewery (US), Deschutes Brewery (US), North Brewing Company (UK), Bell's Brewery Inc. (US), Duvel Moortgat Brewery (Belgium), Stone & Wood Brewing Co. (Australia), Omer Vander Ghinste (Belgium), The Gambrinus Company (US), Lagunitas Brewing Company (US), Canned Heat Beer (US), Northern Monk (UK), American Craft Beer Company Ltd. (UK), Harbour Brewing Co. (UK) are some of the key players in the global craft beer market.

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Regional Market

North America is expected to dominate the market for craft beer during the forecast period. High demand for craft beer among the US population is driving the growth of the craft beer industry in North America. Europe also holds a prominent share in the global craft beer market with the UK, Germany, and France being the major contributors. The increasing number of microbreweries in Europe is expected to boost the growth of the market. However, Asia-Pacific is expected to be a lucrative market for the market, owing to the increasing per capita disposable income followed by the inclination of the youth towards consumption of craft beer. The growing awareness of craft beer among consumers is projected to boost market growth in the rest of the world.

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This release was published on openPR.