SAN FRANCISCO, March 27, 2017 /PRNewswire/ --
The global craft beer market is expected to reach
USD 502.9 billion by 2025, according
to a new report by Grand View Research, Inc. The market is expected
to witness substantial growth over the forecast period on account
of the rising demand for low alcohol by volume (ABV) and flavored
beer.
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The government in countries including Australia, New
Zealand, Belgium,
Mexico, China, and the UK are promoting the production
of craft beer and incorporation of new breweries on account of the
positive contribution of the industry towards economic development
and employment generation coupled with the willingness of the
consumer to pay extra for better tasting brews.
Australia, Belgium, Germany, U.S. and New Zealand are the major craft beer producing
countries with over 65% of the overall production in terms of value
as well as volume. Belgian is the most preferred beer among the
major craft beer consuming countries owing to the premium quality,
clean taste and rich flavor & aroma of the brews.
Furthermore, the number of brewers in the global market is
growing significantly on account of the rising demand for the
product. As a result, the demand for grains such as barley, wheat,
yeast, sugar, and hops is increasing substantially. However, the
alternative applications of the raw materials are expected to lower
the bargaining power of the brewers.
The demand for the pale ale, IPA, and amber ale is growing as
these three craft products are widely preferred by the consumers
owing to the balanced composition of the raw materials in the
product including malt, hops, water, and yeast.
Browse full research report with TOC on "Craft
Beer Market Analysis By Distribution (On-trade, Off-trade), By
Region (North America,
Europe, Asia Pacific, Central & South America, Middle East & Africa), By Country (U.S., Germany, Australia, Japan), And Segment Forecasts, 2014 -
2025" at:
http://www.grandviewresearch.com/industry-analysis/craft-beer-market
Further key findings from the report suggest:
- On-trade distribution of craft beer accounted for over 50% in
2015 of the overall volume share, which is primarily attributed to
the high consumption of the product in restaurants, bars, and clubs
in developed economies including UK, Australia, and Belgium.
- Off-trade distribution of the product is expected to witness
significant growth in developing economies as the consumer spending
power in these countries is low with high price of the product in
on-trade distribution outlets as compared to its counterpart
- Europe is expected to account
for the largest market share in terms of volume owing to the high
consumer preference for flavored beer over other alcoholic spirits.
In addition, increasing demand for IPA and pale ale in the region
is expected to have a positive impact on the market growth.
- Middle East & Africa is expected to grow at a CAGR of 28.9%
owing to the increasing penetration in South Africa. The growing consumer awareness
about the wide range of flavors and styles of the product is
expected to be a crucial factor for market growth in the
country.
- Key players in the industry include The Boston Beer Company,
The Gambrinus Company, D.G.
Yuengling and Son, Stone & Wood Brewing Co. and Chimay
Beers and Cheeses. These major players compete on the basis of
acquiring new markets and increasing their product portfolio.
Browse related reports by Grand View Research:
- Fast Food Market -
http://www.grandviewresearch.com/industry-analysis/fast-food-market
- Ready Meals Market -
http://www.grandviewresearch.com/industry-analysis/ready-meals-market
- Non-Alcoholic Drinks Market -
http://www.grandviewresearch.com/industry-analysis/non-alcoholic-drinks-market
- Condensed Milk Market -
http://www.grandviewresearch.com/industry-analysis/condensed-milk-market
Grand View Research has segmented the craft beer market on
the basis of distribution and region:
- Craft Beer Market Distribution Outlook (Volume, Billion
Liters; Revenue, USD Billion, 2014 - 2025)
- Craft Beer Market Region Outlook (Volume, Billion Liters;
Revenue, USD Billion, 2014 - 2025)
- North America
- Europe
- Asia Pacific
- Australia
- China
- India
- Japan
- New Zealand
- Central & South America
- Middle East & Africa
Read Our Blog: Craft Beer Market: Shift in the
consumer preference to craft beer from mainstream beer is expected
to drive market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company
provides syndicated research reports, customized research reports,
and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant
and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: http://www.grandviewresearch.com