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Stouts And Porters Market Report 2024 - Stouts And Porters Market Size, Trends And Insights
Stouts And Porters Market
According to The Business Research Company's, The stouts and porters market size has grown strongly in recent years. It will grow from $9.65 billion in 2023 to $10.45 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to traditional brewing heritage, cultural and regional preferences, craft beer movement, loyal consumer base, marketing and branding strategies.
The stouts and porters market size is expected to see strong growth in the next few years. It will grow to $14.26 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to craft beer continuation, flavor diversity and experimentation, rising consumer interest in specialty beers, culinary pairing trends, globalization of craft beer. Major trends in the forecast period include low alcohol by volume (abv) options, inclusion of dessert flavors, canning and packaging trends, online sales and direct-to-consumer models, beer tourism.
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Market Drivers and Trends:
The growing demand for craft beer is expected to propel the growth of the stouts and porters market going forward. Craft beer refers to the beer brewed by breweries that are independently owned, and are not part of large corporations. The unique flavor profile, the popularity of the craft beer movement, a willingness to experiment with new beer styles, and a desire for more natural and authentic products are driving the growth of the stouts and porters market. For instance, in April 2023, according to the Brewers Association (BA), a US-based trade association representing small and independent American craft brewers, in 2022, the production of beer by small and independent brewers reached 24.3 million barrels, maintaining a level comparable to the figures from 2021. During the same period, the overall market share of craft beer, measured by volume, increased to 13.2%, showing a slight growth from the previous year's 13.1%. Therefore, the growing demand for craft beer is driving the growth of the stouts and porters' market.
Major companies operating in the stouts and porters market are focused on developing flavored porters liquids such as bittersweet caramel-flavored porter to provide an efficient solution for railroads. A bittersweet caramel-flavored porter is a beer that combines the rich and robust qualities of a porter with the distinctive taste of bittersweet caramel. For instance, in January 2021, Niang Brewery Co, a Singapore-based craft beer brewery, expanded its beer lineup by launching two new offerings, Trooper's Arrow, a porter, and Forbidden Ballad, a West Coast IPA. The company focused on the story and experience. The new West Coast IPA, for example, is inspired by memories of playing at his grandmother's home, featuring piney and fresh forest notes. Trooper's Arrow, inspired by the founder's childhood memories of medicinal remedies, particularly a brown-hued liquid from a Chinese medicine shop, is designed as a bittersweet caramel-flavored porter.
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Major Key Players of the Market:
Anheuser Busch InBev SA NV; Asahi Group Holdings Ltd.; Beerwulf BV; Bells Brewery Inc.; Carlsberg Breweries AS; Deschutes Brewery; Diageo Plc.; Heineken NV; J and B Craft Drinks; Kirin Holdings Co. Ltd.; Left Hand Brewing Co.; Molson Coors Beverage Co.; Oskar Blues LLC; Port Brewing Co.; Rogue Ales and Spirits; Sprecher Brewery Co. LLC; Stone Brewing Co. LLC; Boston Beer Co. Inc.; Sierra Nevada Brewing Co.; Arthur Guinness Son & Co. Ltd.; Samuel Smith Old Brewery; Brooklyn Brewery Corp.; Lagunitas Brewing Company; New Belgium Brewing Company; Victory Brewing Company; Founders Brewing Company; Great Lakes Brewing Company; Left Hand Brewing Company; North Coast Brewing Company; Odell Brewing Company; Surly Brewing Company; Three Floyds Brewing Company; Kalamazoo Brewing Company Inc.; Dogfish Head Craft Brewery; Firestone Walker Brewing Company; Green Flash Brewing Company; Mass. Bay Brewing Company Inc.; New Glarus Brewing Company; Russian River Brewing Company; Southern Tier Brewing Company; Tröegs Brewing Company; Weyerbacher Brewing Company; Avery Brewing Company; Cigar City Brewing Company; Clown Shoes Beer Inc.; Epic Brewing Company; Funky Buddha Brewery LLC; Prairie Artisan Ales LLC
Stouts And Porters Market 2024 Key Insights:
• The stouts and porters market will grow to $14.26 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
• Craft Beer Fuels Surge In Stouts And Porters Market
• Flavored Porter To Provide An Efficient Solution For Railroads
• Europe was the largest region in the stouts & porters market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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