The global beer market is estimated at US$ 665.1 Bn in 2022 and is projected to reach US$ 920.2 Bn by 2032, at a CAGR of 3.3% from 2022 to 2032.
Alcoholic beverages are made from fermenting malt, wheat, molasses fruits, botanicals, and other ingredients. Fermentation and distillation is done on the basis of type of drink to be made. Beer and wines are not distilled while spirits are manufactured by distillation of fermented base. There are different procedures of distillations to obtain different type of drinks such as steeping method, percolation method, etc.
Beer can be made in numerous different ways but the primary ingredients are malted grains (such as oats, barley, or rye), yeast, and hops (flowers). The malt is primarily responsible for the colour and all of the listed ingredients contribute to the flavor of the beer. It is a misconception that darker beers encompass more hops than pale varieties or are “bitter”. Often times the opposite is true but the rule of thumb is to never judge a beer by looks alone.
Alongside this, a consistent growth is being observed since past few years for preference for low ABV (alcohol by volume) drinks. Owing to this, the sales of low-alcohol or no-alcohol beers is expected to escalate in the near future. This can be attributed to the rising interest of health-conscious consumers in drinks with low alcohol content and a wider choice of new flavored beers with improved taste. Due to the above-listed factors, the demand for beer is predicted to surge over the forecast period (2022-2032).
Key Takeaways from Market Study
• Europe is expected to dominate the global beer market, accounting for the maximum value share of about 28% by 2022 end, followed by North America
• The U.S. is expected to account for the maximum share of nearly 80% of the North America beer market
• By product type, lager is expected to account for the maximum market value share by 2022 end
• Higher income groups and working population have an increased spending capacity which is likely to increase the demand for beer in the near future
• Online channel is expected to show an impressive growth as compared to all the other channels over the assessment period (2022-2032)
“The demand for beer is increasing globally because of the growing consumption by the millennial population. Beer flavoring is used as a taste enhancer for beer and other alcoholic drinks, which is expected to influence the demand for beer in the coming decade”, says a Future Market Insights analyst.
Competitive Landscape
Key market participants are following different marketing and promotional strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to address the needs of the consumers and serve accordingly, thus, creating a larger customer base in the coming years.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global beer market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
By Product Type, Global Beer Market is segmented as:
• Ale
• Lager
• Stouts
• Others
By Packaging, Global Beer Market is segmented as:
• Can
• Bottle
• Glass
• Others
By Production, Global Beer Market is segmented as:
• Macro-brewery
• Microbrewery
• Craft Brewery
• Other
By Distribution Channel, Global Beer Market is segmented as:
• Direct
• Indirect
o Hypermarkets/Supermarkets
o Convenience Stores
o Specialty Stores
o Independent Retailers
o Online Retailers
By Region, Global Beer Market is segmented as:
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa
Frequently Asked Questions
• At what value is the beer market expected to reach?
• At what rate is the global beer market expected to grow?
• What strategies are adopted by the key players in the beer market?
• What percent of share does the top 10 companies in the beer market hold?
• Which are the major countries driving demand for beer?
Read More: https://www.futuremarketinsights.com/reports/beer-market