Asia Pacific Beer Market to Exhibit 5.0% CAGR during 2014-2020 due to Growing Demand from China
Beer has been a leisure drink for several decades and continues to form a lucrative market. There are a few players who own nearly half of the share in the Asia Pacific beer market while the other half is quite fragmented with the presence of several local players. Asia Pacific nearly half of the world’s population, although buying credibility of a large section is not as potent as for other regions. Since beer is also considered a relatively cheaper drink in comparison to other alcoholic beverages, the beer market in Asia Pacific is projected for a healthy growth rate during the forecast period of 2014 to 2020.
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This Transparency Market Research report estimates that the opportunities in the Asia Pacific beer market will be worth US$ 220.36 bn by the end of 2020. This constant increment in the demand for beer is attributes to several factors such as rising disposable income, particularly among the working class, increasing number of bars and restaurants serving beers among the urban population, and ever growing population in the region. However, legislations of stringent rules and regulations pertaining to advertising of alcoholic beverages and well as religious obstructions are some of the factors that are obstructing the market to reach its full potential.
Mainstream Beer Segment Gaining Popularity
By type, the Asia Pacific beer market is segmented into premium, mainstream, and economy. Currently, mainstream beer segment serves that maximum demand, which is a reflection of sustained marketing by some of the established brands. These brands actively make effort to improve production quality at their localized manufacturing base, increase feel-good-factor with innovative packaging, and raise awareness about the reduced harmfulness of beer as opposed to other alcoholic drinks. Asia Pacific resides several emerging economies such as India and China, wherein rapid urbanization is leading to incremented disposable income of the consumers who prefer mainstream beer over the economy segment. Premium beer is expected to remain profitable and yet considerably smaller in quantity over the duration of the forecast period.
REGIONAL SEGMENT SUBHEAD
Country-wide markets of India, China, Singapore, South Korea, Australia, Japan, and Vietnam contribute the maximum demand for beer in Asia Pacific. China, which is the most populated country in the world, generates most significant demand. However India, which is the second most populous country, is projected for the most robust growth rate due to western culture seeping into the urban population. Moreover, India has world’s maximum youth population, who now prefer beer as a casual drink. Some of the most popular beers in Asia Pacific are Asahi Breweries (Japan), Tsingtao (China), OB Blue (South Korea), Kirin Ichiban (Japan), Yanjing Brewery (China), and Tsingtao (China).
Companies mentioned in the research report
Anheuser-Busch InBev, Beijing Yanjing Brewery, China Resources Enterprise, Kirin Holdings, San Miguel Brewery, Asahi Brewery, and Tsingtao Brewery are identified as some of the key players in Asia Pacific beer market.
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