Light Beer Market Set to Reach $338.83 Billion by 2027: Insights from Allied Market Research Report

"Light Beer Market by Production (Macro-Brewery, Micro-Brewery, Craft Brewery, Chips, and Others), Package(Glass, PET Bottle, Metal Can, and Others), and Distribution Channel (Hypermarkets & Supermarket, On-Trade, Specialty Stores, Convenience Store, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2027" According to the report, the global light beer industry generated $285.33 billion in 2019, and is expected to garner $338.83 billion by 2027, growing at a CAGR of 2.9% from 2021 to 2027.

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There is a significant rise in consumption of beer by people aged between 18 and 25 years. The approximate number of middle- and old-aged men has more or less remained the same, whereas there is an increase in the number of women. According to the United Nations, the global youth population is expected to rise by 7% to 1.3 million before 2030, which in turn is expected to drive the light beer market. The trend of drinking among women has been gaining acceptance across the globe due to financial independence and increase in social and professional gatherings. This factor majorly fuels the light beer market. On-premise distribution channels, such as restaurants, cafes, disco, and bars, serve beer and special cocktails containing light beer. The on-premise distribution channels have witnessed higher demand with rise in disposable income and change in consumer preferences. Increment in the number of restaurants and bars have resulted in greater consumption of these beverages, as people increasingly prefer on-premise drinking to off-premise drinking.

Drivers, restraints, and opportunities-

Rise inyouth population and average number of female drinkers all across globe, change in consumer preference, and surge in number of on-premise distribution channels drive the growth of the global light beer market. However, volatile prices of raw materials and taxations and higher excise duties on imported as well as local beer hinder the market growth. On the other hand, development of naturally sweetened and healthier alcoholic drinks offer new opportunities in the coming years.

Covid-19 Scenario-

The manufacturing activities have been massively affected due to lockdown. The disruption in supply chain management has resulted in shortage of raw materials.
In addition, the investments for future plans and other strategies have been put on hold as well.
The government bodies, however, have eased off certain regulations in order to manage economic benefits.
The craft brewery segment to maintain its leadership status throughout the forecast period-

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Based on production, the craft brewery segment accounted for the highest market share in 2019, holding around one-third of the global light beer market, and is expected to maintain its leadership status throughout the forecast period. This is attributed to the growing consumer preference to craft beers. The transportation cost of liquid form is four times lower than that of the powdered form. However, the micro-brewery segment is estimated to witness the largest CAGR of 3.40% from 2021 to 2027. This is due to customers preference towards different flavored light beer and special ingredients added to the final product.

The PET bottles segment to maintain its dominant share during the forecast period-

Based on packaging, the PET bottles segment contributed to the highest share of the market, accounting for more than one-fourth of the global light beer market in 2019, and is projected to maintain its dominant share during the forecast period. This is due to its superior physical properties such as high design flexibility, lightweight, and recyclability. However, the glass segment would manifest the fastest CAGR of 3.30% from 2021 to 2027.Glass bottles offer transparency. In addition, it can be reused and recycled which drives the growth of the segment.

North America to rule the roost throughout the forecast period-

Based on region, North Americaheld the highest market share based on revenue with nearly two-fifths of the global light beer market in 2019, and is expected to continue its highest contribution by 2027. This is attributed to social media and local events/promotions. However, Asia-Pacific is expected to portray the highest CAGR of 4.40% during the forecast period. This is due low reachability of the distribution channel in craft beer.

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Market players grabbing the largest pie

ABInBev
MillerCoors
Heineken USA
Pabst
Diageo-Guinness
Carlsberg
Asahi Breweries
Suntory Beer
Arpanoosh
ErdingerWeibbrau.

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