Asia Pacific Beer Market Driven by Growing Demand for Innovative Flavored Beer & Crafted beer
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Beer is one of the most widely consumed and oldest alcoholic beverages in the world. Recent archaeological excavations in China have revealed a 5,000-year old brewery, pointing out the historical consumption of beer in Asia Pacific. The growing demand for innovative flavored beer and crafted beer has boosted the growth of the beer market in Asia Pacific.
The report points out that a rise in disposable incomes, the impact of Western culture, and increase in beer consuming working class consumers have propelled the growth of the Asia Pacific beer market. An increase in the number of convenience stores, liquor shops, retail stores, malls, restaurants, and bars has also supported the growth of the market. However, government regulations regarding alcohol consumption threaten to impede the regional market’s growth during the forecast period. Furthermore, consumers are also becoming aware of the negative effects of regular alcohol consumption. The APAC market has a huge opportunity to grow with the increasing preference for unique beers.
The report segments the Asia Pacific beer market into premium, economy, and mainstream beer, based on type. In 2013, the mainstream beer segment boasted the largest share in the market at 33%. The success of the mainstream beer is helped to a large extent by established brands who make an effort to improve production in their local manufacturing units to offer quality liquor at affordable prices. Some of the top-selling beers in Asia Pacific are Kirin Ichiban (Japan), OB Blue (South Korea), Tsingtao (China), Yanjing Brewery (China) Asahi Breweries (Japan), and Tsingtao (China).
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The premium beer segment, on the other hand, could exhibit a 4.60% CAGR over the forecast period, states the report. The segment of premium beer, according to the report, will exhibit good growth in the forthcoming years, fuelled by rising disposable income and increasing population in the Asia Pacific. India, China, South Korea, Singapore, Australia, Vietnam, and Japan have emerged as the most successful pockets in the Asia Pacific beer market. Among these countries, China was the largest consumer of beer in 2013 owing to its high population and increasing income levels. Furthermore, the demand for beer from countries like India, South Korea, and Singapore is likely to fuel the overall Asia Pacific beer market.
The top five players together hold over 51% of the overall market. Anheuser-Busch InBev is witnessing substantial profit margins with rising sales of beer in Asia Pacific. Furthermore, the region is experiencing a boom in imports of Czech beer, such as beer manufactured by PivivaryLobkowicz Group, which is partly owned by CEFC.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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