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Ales Market Outlook 2024-2033 - Growth, Demand, Analysis
Ales Market Outlook
According to The Business Research Company's, The ales market size has grown strongly in recent years. It will grow from $19.87 billion in 2023 to $21.36 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to cultural and social trends, changing consumer preferences, microbrewery and craft beer movement, local and artisanal focus, food and beverage pairing..
The ales market size is expected to see strong growth in the next few years. It will grow to $27.75 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to sustainability and locally sourced ingredients, health and wellness trends, innovations in brewing techniques, marketing and branding strategies, globalization of craft beer culture.. Major trends in the forecast period include low-alcohol and non-alcoholic ales, sustainable brewing practices, digital marketing and e-commerce, collaborative brews, beer tourism..
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Market Drivers and Trends:
The increasing propensity to consume beer is expected to propel the growth of the ales market going forward. Beer refers to an alcoholic beverage prepared by extracting basic materials with water, boiling, and fermenting them. Light to moderate beer consumption may be associated with a lower risk of heart disease, improved blood sugar control, stronger bones, and a reduced risk of dementia, which is increasing the propensity to consume beer. This is aiding the increased consumption of ales. For instance, according to the Brewers Association, a US-based trade association that works to promote and protect small and independent American brewers, in 2021, the US beer volume sales were increased 1% in 2021, while craft brewer volume sales grew 8%, raising small and independent brewers' share of the US beer market by volume to 13.1% compared to previous year. Therefore, the increasing propensity to consume beer is driving the growth of the ales market.
Product innovation is a key trend gaining popularity in the ales market. Major companies operating in the ales industry are focused on developing innovative products to strengthen their position in the market. For instance, in March 2023, Bira, an India-based craft beer brand manufacturing company, launched the Hill Station Cider Ales. These hard cider ales are made with fresh Himalayan apples and mountain barley. Their flavors are dry and mildly sweet, with a hint of malt and a full flavor of fresh apples from the orchard. Himalayan apple ciders are natural and crisp, making them ideal for all seasons and best served over ice.
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Major Key Players of the Market:
Anheuser-Busch InBev SA/NV; Heineken N.V.; Carlsberg A/S; Diageo plc; Sierra Nevada Brewing Co.; United Breweries Group; China Resources Snow Breweries Limited; The Boston Beer Company Inc.; Asahi Group Holdings Ltd.; Beijing Yanjing Brewery Co. Ltd.; Dogfish Head Craft Brewery Inc.; Oettinger Brauerei GmbH; Squatters Craft Beers; D.G. Yuengling & Son Inc.; Kirin Holdings Company Limited; Molson Coors Beverage Company; Sapporo Holdings Limited; Tsingtao Brewery Co. Ltd.; New Belgium Brewing Company Inc.; Bell's Brewery Inc.; Stone Brewing Co.; The Brooklyn Brewery; Lagunitas Brewing Company; Deschutes Brewery & Public House; Founders Brewing Co.; Oskar Blues Brewery; Goose Island Beer Company; Magic Hat Brewing Company; Harpoon Brewery LLC; Full Sail Brewing Company; Rogue Ales & Spirits; Avery Brewing Co.; Firestone Walker Brewing Company; Odell Brewing Co.; Victory Brewing Company; Left Hand Brewing Company;
Ales Market 2024 Key Insights:
• The ales market will grow to $27.75 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Bubbling Growth Rising Beer Consumption Propels Ales Market Forward
• Bira Breaks Ground With Hill Station Cider Ales In The Craft Beer Market
• Asia-Pacific was the largest region in the ales market in 2023
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