Craft Beer Market Size in India, Price Trends, Sales Analysis, Future Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "India Craft Beer Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The craft beer market size in India is projected to exhibit a growth rate (CAGR) of 27.12% during 2023-2028.

What is Craft Beer?

Craft beer is produced by small, independent breweries using traditional and innovative brewing techniques. It contains B vitamins, such as B6, B12, niacin, riboflavin, and folate, which play a role in metabolism and energy production. Its moderate consumption aids in combating oxidative stress, improving heart health, controlling blood sugar levels, enhancing bones and muscles, reducing inflammation, and minimizing the risk of developing chronic diseases like heart disease and osteoporosis. It prioritizes quality, flavor, and distinctive characteristics over mass production. It is known for its diverse range of flavors, styles, and ingredients, often incorporating unique combinations of hops, malt, yeast, and additional flavorings.

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What are the growth prospects and trends in the India Craft Beer industry?

There is an increase in the use of craft beer as a cocktail ingredient in distilleries. Along with this, the establishment of commercial spaces, such as distilleries, microbreweries, cafes, restaurants, bars, and hotels, represents one of the primary factors fueling the market growth in India. Moreover, the increasing number of collaborations between craft beer brands and these establishments to launch numerous endorsement programs is favoring the growth of the market in the country. In addition, the rising adoption of Western drink culture and the growing inclination towards premium alcoholic beverages due to the emerging trend of socializing and parties among millennials, working professionals, and young adults is influencing the market positively in the country. Apart from this, the increasing inclination towards home delivery services and to-go packs through online shopping websites that are offering convenience, wider collection, fast shipping facilities, discounted deals, and innumerable payment options is contributing to the market growth. Furthermore, the emerging trend of gifting unique premium items is driving the sales of craft beer in innovative bottles and labels. Besides this, product manufacturers operating in the country are introducing genetically modified organisms (GMO) and additive-free and organic and botanical flavored and fruit variants like strawberry, blueberry, chocolate, honey, hot pepper, smoke, and ginger to expand their product portfolio. They are also using high quality ingredients and special brewing techniques to produce premium craft beers for a better drinking experience. Leading players are focusing on introducing less sugar content suitable for health-conscious consumers. They are incorporating kegerators for storing and dispensing craft beer and retaining the flavor, aroma, color, and texture of the stored craft beer. Additionally, the increasing inclination towards craft beer, which has less alcohol content, for minimizing the risk of intoxication and controlling alcohol dependency is propelling the growth of the market in the country.

What is included in market segmentation?

The report has segmented the market into the following categories:

Product Type Insights:
• Ales
• Lagers
• Others

The report has provided a detailed breakup and analysis of the market based on the product type. This includes ales, lagers, and others.

Age Group Insights:
• 21-35 Years Old
• 40-54 Years Old
• 55 Years and Above

A detailed breakup and analysis of the market based on the age group has also been provided in the report. This includes 21-35 years old, 40-54 years old, and 55 years and above.

Distribution Channel Insights:
• On-Trade
• Off-Trade

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes on-trade and off-trade.

Regional Insights:
• South India
• North India
• West & Central India
• East India

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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This release was published on openPR.