Craft Beer Market Expected to Generate $186,590 Million by 2025, Growing At a CAGR of 8.0%
Rise in disposable income, changing consumer preferences, increase in youth population & average number of female drinkers, and surge in number of on-premise distribution channels drive the growth of the global craft beer market. On the other hand, volatile raw materials prices and taxation & higher excise duties on imported as well as local beer check the growth to some extent. However, introduction of organic alcoholic beverages, rise in number of millennial populations and upsurge in social media marketing are expected to create a number of lucrative opportunities in the near future.๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐ง๐ต๐ฒ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐ฃ๐๐ ๐ข๐ณ ๐ง๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.alliedmarketresearch.com/request-sample/6032
The global craft beer market size was valued at $108,912 million in 2018 and is projected to reach $186,590 million by 2025, growing at a CAGR of 8.0% from 2018 to 2025. In 2018, Europe accounted for nearly a 43.6% share of the craft beer market.
The significant craft beer market growth has resulted in the growth in the availability of technical equipment and capital allowing brewing on a small scale. Though in the initial stages, entrepreneurs faced major difficulties financing their breweries and finding appropriate equipment where craft brewers regularly used capital equipment designed for other industries. However over the years, the craft brewery segment has witnessed increase in the adoption of upgraded technology and equipment specifically designed for craft brewery.
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The key players profiled for the craft beer market analysis include Anheuser-Busch InBev, Carlsberg Group, Diageo PLC, Heineken N.V., Erdinger Brewery, Lasco Brewery, Oettinger Brewery, Radeberger Brewery, and BAVARIA N.V.
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In 2018, by product type, the lager segment accounted for around a 56.0% craft beer market share, growing at a CAGR of 7.3% from 2018 to 2025.
In 2018, by distribution channel, the on-trade segment accounted for around a 65.9% r market share, growing at a CAGR of 8.0% from 2018 to 2025.
In 2018, by age group, the 21-35 years old segment accounted for a 52.8% market share and is expected to growth at the highest CAGR of 7.7%.
In 2018, by region, Europe accounted for a prominent market share and is anticipated to grow at a CAGR of 7.7% throughout the Craft Beer market forecast.
๐๐๐ญ ๐๐จ๐ฎ๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐: https://www.alliedmarketresearch.com/request-for-customization/6032
North America to rule the roost in terms of revenue-
Based on geography, North America accounted for more than one-third of the global craft beer market revenue in 2018 and is projected to lead the trail by 2025. Ongoing consumer shift in preferences and tastes has encouraged the brewers in the region to introduce varieties in alcoholic beverages. Simultaneously, the Asia-Pacific region would cite the fastest CAGR of 5.70% till 2025. People in the region are increasingly attracted to premium products & services and are more likely to buy craft beer of imported IPAs as well as imported brands.
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