Craft Beer Market To Attain A Size Of Over USD 56650.1 Billion By 2027

According to the MRFR reports, the global market for craft beer is likely to acquire a size of over USD 248.6 Billion by 2027. The market is growing rapidly and will likely register a healthy CAGR of approximately 13.50% during the review timeframe.

Craft beer is usually derived from traditional ingredients such as malted barley: interesting and sometimes non-traditional ingredients are frequently added for distinctiveness. The global market for craft beer has witnessed massive growth over recent years. The market's growth has been consistent since the establishment of the segment of microbrewery was found thirty years ago. Growing preference for low alcohol content beverages across the globe is one of the crucial aspects boosting the growth of the craft beer market. Furthermore, the factors such as the use of premium brewing materials and methods, innovations in the traditional beers, the emergence of new breweries, and the development of new products and flavors are also anticipated to propel the growth of the craft beer market over the coming years. However, the market's growth is anticipated to be restricted by stiff competition.

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Segment Analysis
The global market for craft beer has been divided into several segments based on type, ingredients, distribution channels, and region.

The global market for craft beer is split into stouts, lager, and ale based on type.
Based on ingredients, the craft beer market is bifurcated into hops, enzymes, yeast, and malt.
The global market for craft beer is divided into off-trade and on-trade distribution channels by distribution channel.

What type of craft beer is expected to drive the market demand?
The leading segment of the craft beer market is the larger type of craft beer.

Regional Analysis
The global market for craft beet is studied across five major regions, including North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.
As per the research reports by MRFR, the North American regional market for craft beer holds the top position across the globe. The regional market is likely to maintain dominance over the review timeframe. The growing craze among the young population for craft beer is one of the primary growth factors for the regional market's performance growth.

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The European region is likely to hold the second position globally in the craft beer market. The presence of plenty of major producers across the region is the primary factor causing an upsurge in the regional market's growth.

Competitive Analysis
The global market for craft beer has an intensely competitive landscape. The major players in the global market are contributing to the net market revenues by making investments to launch new products. The list of leading global craft beer market players includes North Brewing Company, New Belgium Craft Brewery, Boston Beer Company Inc., Deschutes Brewery, D.G. Yuengling & Sons, Inc., and several others.

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Recent Developments
• January 2022- Tilray Brands, a marijuana producer, announced the acquisition of two California craft beer brands in late 2021, Green Flash and Alpine, in a cash and stock deal worth USD5.1 million, as per a new regulatory disclosure.Tilray purchased the assets from WC IPA on December 17, 2021, in return for 366,308 Tilray shares valued at USD 3 million and the rest in cash.
WC IPA had finished the acquisition of all the assets in a foreclosure sale in 2018.
The acquisition of Green Flash and Alpine happened right after a week to Tilray's purchase of Colorado-based Breckenridge Distillery in a transaction worth USD102.9 million and a year after New York company bought Atlanta-based SweetWater Brewing Co. in a deal worth USD300 million. Aphria completed the SweetWater purchase in late 2020 before the company's merger with Tilray last year.

They appeared right after Tilray and brewing giant A.B. InBev ended their partnership.

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