Beer Market reached USD 630 million in 2019, growing at 5.2% CAGR during 2020-2027 | Size, share, Trends, Industry Analysis & Forecast

Beer Market

The Beer Market was estimated around USD 630 million in 2019 and is predicted to grow at a CAGR of 5.2% over the forecast period (2020-2027).

The factors driving the growth of Beer Market includes growing awareness amongst consumers about the health benefits of consuming beer, increasing popularity of alcoholic beverages amongst millennials and rise in the number of wine shops and liquor stores around the world. As per the report published by Federal Reserve Economic Data (FRED), revenue generated by beer, wine and liquor stores in the United States has increased from USD 3,707 million in February 2017 to USD 4,301 million in 2020, which is expected to boost the Beer Market share in the approaching years. Moreover, rise in the launch of innovative products, increasing availability of beer products at online platforms, growing consumers preference for preimmunized beers, are some of the additional factors supplementing the Global Beer Market. In addition, increasing investments by leading players on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

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However, the growth of Beer Market is hindered due to strict regulations regarding the promotion of beer.

The leading players operating in the Beer Market includes Pabst Brewing Company LLC, Molson Coors Beverage Company, Tsingtao Beer Trading Co. Ltd, SABMiller Plc, Ab Inbev SA, Carlsberg Breweries A/S, Asahi Group Holdings, Heineken N.V., China Resources Beer Company Ltd, and Boston Beer Company, Inc., among others.

Based on Production, the Micro-Brewery segment is predicted to expand at a significant CAGR during the forecast period

As per the Beer Market Research, growing demand for craft beers across the globe attributed to its health benefits along with environment friendly properties of microbreweries, are some of the factors responsible for the segment's growth.

Based on Packaging, the Canned Beer segment is predicted to grow at a remarkable CAGR over the forecast period

According to the Beer Market Analysis, canned packaging styles are increasingly preferred by manufactures because they are easy to carry and are safe for transportation, are the factors propelling the segment's growth.

Based on Region, the North American region is anticipated to hold the highest market share during the forecast period

As per the Beer Market Report, rise in the number of microbreweries, growing demand for innovative beers, busy lifestyles, increasing acceptance towards beers in party and high per capita incomes, are some of the important factors augmenting the Beer Market size in North America.

 Key Developments:

In 2021, Heinekin acquired Namibia Breweries Limited, Distell Group Holdings Limited, and Ohlthaver & List Group of Companies to expand its foothold in the Southern African market.
In 2021, Carlesberg launched new beer bottle to reduce the carbon impact of glass bottles by 90%.
Market Segmentation

Segmentation by Product

Light Beer
Strong Beer

Segmentation by Production

Macro Brewery
Micro-Brewery

Segmentation by Category

Premium Beer
Super Premium Beer
Normal Beer

Segmentation by Packaging

Canned Beer
Bottled Beer
Draught Beer

Segmentation by Region   

• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• North America
o United States of America
o Canada
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE

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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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This release was published on openPR.