Craft Beer Market Overview:
The surge in pub culture is estimated to bolster the craft beer market in the coming period. The food, beverages & nutrition reports are made by Market Research Future, which includes market possibilities for advancement. A USD 39.5 Billion is predicted to be transformed by a CAGR of 2.85% by 2035.
The elevated disposable income level is estimated to spur the Craft Beer Market share in the in the near future. The improved product lines for craft beer types are estimated to spur the craft beer market size in the forecast period.
Key Drivers:
- Rising Consumer Preference for Unique and Flavorful Beers
Modern consumers, especially millennials and Gen Z, are increasingly seeking distinctive taste profiles and artisanal products, which has driven the demand for craft beer over mass-produced lagers. This shift in preference supports small and independent breweries offering diverse flavor innovations, including fruit-infused, sour, and barrel-aged varieties.
- Growing Popularity of Local and Independent Breweries
There is a strong "drink local" movement, with consumers showing loyalty to neighborhood breweries and regional brands. The perceived authenticity, freshness, and community connection associated with local craft brewers are significant market drivers.
- Innovation in Brewing Techniques and Ingredients
Craft breweries are known for their experimental brewing techniques and use of non-traditional ingredients such as spices, herbs, exotic fruits, and even coffee or chocolate. This innovation continually reinvigorates consumer interest and expands the market.
- Increasing Disposable Income and Premiumization Trends
As consumers become more willing to spend on premium, high-quality beverages, the craft beer market benefits from its positioning as a premium alternative to mainstream beer. Higher disposable incomes in many regions support this trend.
- Expanding Distribution Channels
Craft beer is now more widely available thanks to expansion in retail outlets, supermarkets, online platforms, and taprooms. This improved accessibility has made craft beers easier to find and try, supporting broader market penetration.
- Rise in Craft Beer Festivals and Cultural Events
Events such as beer festivals, tasting sessions, and brewery tours are popular among enthusiasts and have helped to build strong craft beer communities. These events serve as effective marketing tools and create consumer engagement.
- Health and Transparency-Conscious Consumers
Many craft brewers market their products as natural, small-batch, preservative-free, or with lower alcohol content, appealing to health-aware consumers. The transparency in sourcing and brewing processes further attracts a conscientious demographic.
- Government Support and Relaxed Regulations in Some Regions
In certain countries, supportive government policies and relaxed licensing laws have facilitated the opening of microbreweries and brewpubs, thereby bolstering the craft beer industry.
Competitive Landscape:
The fortifying effects of government policies are estimated further to reduce the achievement of future goals in the market. It is estimated that the factors of the market that were previously not leveraged will be employed to boost the potential of the market in the approaching period. The rivalry in the market is estimated to take a muted course in the progression of the forecast period. The focus on external business factors is further estimated to create promising changes in several areas of the market at a global level in the future. The market is likely to evolve at a relatively stable pace in the course of the forecast period. The benefactors in the market are likely to contribute in a consistent arable manner to the growing requirement in the market. Also, the breakthroughs that have come to fruition in the market are estimated to transform the overall market development through the coming years. The consumer demand which had slackened due to the pandemic disruption is likely to gain its intensity for growth in the future.
The global Craft Beer Market Companies are The Gambrinus Company (U.S.), D.G. Yuengling & Sons, Inc. (U.S.), Canned Heat Beer (U.S.), Northern Monk (UK), Stone & Wood Brewing Co. (Australia), American Craft Beer Company Ltd. (U.K.), New Belgium Craft Brewery (U.S.), North Brewing Company (U.K.), The Boston Beer Company, Inc. (U.S.), Bell's Brewery Inc. (U.S.), Duvel Moortgat Brewery (Belgium), Deschutes Brewery (U.S.), Omer Vander Ghinste (Belgium), Lagunitas Brewing Company (U.S.), Harbour Brewing Co. (U.K.) are some of the key players in the craft beer market.
Segmentations:
The segmental investigation of the craft beer market has been segmented on the basis of ingredients, distribution channel, type, and region. On the basis of ingredients, the craft beer market has been segmented into enzymes, hops, malt, yeast, and others. Based on the distribution channel, the craft beer market has been split into off-trade and on-trade. On the basis of type, the craft beer market has been segmented into stouts, ale, lager, and others. Based on the region, the craft beer market consists of Asia Pacific, North America, Europe, and the rest of the regional markets.
Detailed Regional Analysis:
The regional review of the craft beer industry consists of Asia Pacific, North America, Europe, and the rest of the regional markets. The North American region is estimated to govern the craft beer market in the forecast period. The prominent demand for craft beer among the U.S. population is motivating the development of the craft beer industry in the North American craft beer market. The European region also holds an important stake in the craft beer market with the nations of the UK, Germany, and France being the major backers. The growing number of microbreweries in the European region is anticipated to boost the development of the market. However, the Asia Pacific regional market is projected to be a profitable market due to the growing per capita disposable income shadowed by the preference of the youth towards the intake of craft beer. The developing understanding of craft beer among customers is anticipated to boost market development in the rest of the world.
Industry Updates:
Aug 2020 India's B9 Beverages, creator of the well-liked craft beer Bira, is in discussions with global brewers and investors to retail a stake of up to 20% in the company.
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