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Craft Beer Market Set to Grow Rapidly, Valued at $186,590 million by 2025

12-06-2023 12:34 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Craft Beer Market

Craft Beer Market

Increase in disposable income, changing consumer preferences, rise in youth population & average number of female drinkers, and surge in number of on-premise distribution channels fuel the growth of the global craft beer market. The global craft beer market size was valued at $108,912 million in 2018 and is expected to reach $186,590 million by 2025, registering a CAGR of 8.0% from 2018 to 2025.

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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.

Leading Key Players

Carlsberg Group
Heineken N.V.
Anheuser-Busch InBev
Radeberger Brewery
Erdinger Brewery
BAVARIA N.V.
Lasco Brewery
Diageo PLC
Oettinger Brewery

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Based on end-user, the off-trade segment held the lion's share in 2018, garnering nearly two-thirds of the global craft beer market. Increase in the craze for purchasing beer from retail outlets such as hypermarkets, supermarkets, convenience stores, mini markets, kiosks, and wines & spirits shops has spurred the growth of the segment. At the same time, the on-trade segment would cite the fastest CAGR of 8.6% by 2025. Rise in inclination toward hopping bars, restaurants, coffee shops, clubs, and hotels has propelled the growth.

With the rise in demand for craft beers in several countries, consumers have formed several key non-profit associations to mobilize craft beer association. The key motive behind forming such organizations is to stimulate activity of the first entrants in the craft beer segment, thereby sustaining the demand for specialized products against mass-produced beer. One of the ideal examples of such consumer association is Campaign for Real Ale (CAMRA). The advent of CAMRA inspired similar organizations in other countries, such as PINT in the Netherlands and Humulus Lupulus in Spain.

Key Findings of The Craft Beer Market:

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.

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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.

Check out more related studies published by AMR Research:

Red Wine Market - https://www.einpresswire.com/article/672953248/red-wine-market-expected-to-achieve-278-5-billion-by-2028-growing-a-cagr-of-5-4-by-2028

Alcoholic Energy Drinks Market - https://www.einpresswire.com/article/625383632/alcoholic-energy-drinks-market-size-share-growth-projection-48-9-billion-by-2031-with-a-cagr-of-8-0-amr

Organic Wine Market - https://www.alliedmarketresearch.com/organic-wine-market-A10965

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

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