Craft Beer Market is forecasted to reach a value of US$ 174.68 Billion by 2032

The worldwide craft beer market was expected to be worth $76.3 billion in 2020 and $81.64 billion in 2021. The market will grow at a steady CAGR of 6.9% between 2022 and 2032. By the end of 2032, this market is predicted to have a global valuation of US$174.68 billion.

The surge in demand for more beer styles coupled with increase in per capita income among the target customers has triggered the demand for craft beer in some of the key beer consuming regions.

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Many factors are involved in creating the perfect beer or ale. It can be difficult to define what craft beer is, but small, independent breweries are usually the ones producing unique products. A variety of flavors is used for attracting customers, including honey, fruits, tart, sweet and sour, funky flavors and spicy.

Key Benefits for Craft Beer Market:

• The report provides an extensive global craft beer market analysis with current and emerging market trends and opportunities.
• The report provides detailed qualitative and quantitative analysis of the current craft beer market trends and future estimations that help in the evaluation of the prevailing market opportunities.
• A comprehensive analysis of the factors that drive and restrict the market growth.
• An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
• The report provides extensive qualitative insights on the potential craft beer segments or regions exhibiting favorable growth.

List of Key Companies Profiled in The Report

• Anheuser-Busch InBev SA/NV
• Heineken Holding N.V
• Boston Beer Company Inc.
• Molson Coors Brewing Co.
• Duvel Moortgat NV
• FIFCO USA
• Bells Brewery Inc.
• G Yuengling & Sons Inc.
• Sierra Nevada Brewing Co.
• Stone Brewing Co.
• Others

Australian Craft Brewers Company Stone and Wood was acquired by Lion, one of the major players in the domain of alcoholic beverages, on 9th September 2021. In addition to acquiring Stone and Wood, Lion may be able to acquire Little Dragon, Sunny Seltzer and Fixation by purchasing full ownership of Farmentum Group, the parent company of Stone and Wood.

Key Takeaways from the Market Study

• North America is expected to be a lucrative region, accumulating 36% market revenue
• Craft beer consumption to increase in Europe, accounting for 41% of global demand, fueled by premium brands.
• With a CAGR of 5.2%, microbreweries are expected to retain their prominence through 2032.
• Among products, pale ale will experience maximum sales, accounting for 25% of total revenue
• Global craft beer market to experience almost 2x from 2022 to 2032

Competitive Landscape

Manufacturing companies can increase revenue and market share through strategic collaborations by meeting consumer demand and increasing production. The end-user can benefit from eco-friendly products thanks to the emergence of new products and technologies.

• Constellation Brands, Inc., announced its acquisition of Florida-based brewery, Funky Buddha Brewery, in August 2017, reaffirming its plan to dominate the high-end beer sector in the U.S.
• With the growing demand for craft beer, AB InBev's venture capital unit, ZX Ventures, opened up a new brewery in Wuhan, China in February 2018.

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Key Segments Covered in the Craft Beer Industry Survey

• By Product
o Brown Ale
o Pale Ale
o Porter
o Stout
o Pale Lager
o Pilsner
o Marzens
o Bocks
o Other

• By Brewer
o American Sour
o Non-Alcoholic
o Belgian Fruit Lambic
o Flanders Red Ale
o Belgian Gueuze

• Sales Channel
o Microbreweries
o Brewpubs
o Contract Brewing Companies
o Independent Regional Craft Brewing Companies

The Craft Beer market is not just a trend but a cultural phenomenon, redefining the beer landscape with its emphasis on quality, variety, and authenticity. This comprehensive exploration, from its overview and insights to future outlook, opportunities, recent industry news, and notable developments, sheds light on the multifaceted aspects of this flourishing market. Staying informed and embracing innovation will be key for breweries to navigate the exciting opportunities and challenges that lie ahead in the dynamic world of Craft Beer.

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This release was published on openPR.