Covid-19 Impact on Latin America and Middle East Beer Market- Global Industry Scanario and Opportunities Analysis till 2021

According to the research report, in 2014, the Latin America beer market was worth US$57.1 bn and is estimated to reach US$77.1 bn by the end of 2021, exhibiting a 4.40% CAGR between 2015 and 2021. On the basis of volume, in 2014, the Latin America beer market stood at 20,191.6 mn liters and is projected to reach 24,847.9 mn liters by the end of 2021, registering a 3.10% CAGR between 2015 and 2021.

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On the other hand, in 2014, the Middle East beer market was worth US$3.5 bn and is anticipated to reach a value of US$4.8 bn by the end of 2021, exhibiting a 4.30% CAGR between 2015 and 2021. On the basis of volume, in 2014, the Middle East beer market stood at 1,044.3 mn liters and is estimated to reach 1,209.4 mn liters by the end of 2021, exhibiting a 2.10% CAGR between 2015 and 2021.

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The growing popularity of beer, the tremendously increasing disposable incomes of consumers, and rapid industrialization are some of the major factors driving the Latin America and Middle East beer market. In addition, the introduction of organic beer is expected to boost the demand for beer in these regions throughout the forecast period. However, stringent regulations and sensorial profile of beer are the major factors hampering the growth of this market.

By product, the Latin America and Middle East beer market has been categorized into stout beer, lager beer, non-alcoholic beer, and dark beer. Among these types of beer, the lager beer segment accounts for the largest share in the Latin America and Middle East beer market on the basis of revenue generation. In the Latin America beer market, the lager beer segment is projected to register a 4.40% CAGR between 2015 and 2021, whereas in the Middle East, this segment is projected to exhibit a 3.50% CAGR between 2015 and 2021. Among the two regions, the Latin America market accounts for the largest share in the lager beer segment.

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The presence of religious restrictions of the Islamic sect and consequently rigid restrictions and laws has led the Middle East beer market to be dominated by non-alcoholic beer. In 2014, Egypt and the UAE collectively held a share of 40.62% in the Middle East beer market. The consumption of alcoholic beer is comparatively less in most Middle Eastern countries. On the flip side, there are no such restrictions in Latin America, which thus has a larger consumer base for alcoholic beer if compared to non-alcoholic beer. The growing awareness regarding the health benefits of consuming beer, along with the suitable climatic conditions in the region, has fueled the Latin America beer market. Presently, Brazil leads the market, holding a share of 60.2% in the Latin America beer market.

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This release was published on openPR.