Premium Lager Market Poised for Steady Growth in the Future By 2025
Posted: Sep 08, 2019
The global premium lager market size is expected to reach USD 219.9 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.5% over the forecast period. Growing demand for authentic beer on account of the health benefits related to cardiovascular issues, kidney problems, mental stress, and anxiety issues is expected to have a positive impact on the market growth. In addition, increasing disposable income and adoption of western culture among middle class income groups of developing economies including China and India are expected to remain favorable factors over the forecast period.
Asia Pacific is expected to witness the fastest growth over the next few years as a result of increasing demand from working class professionals in key countries including China and India. As of 2018, China had a millennial population of more than 400 million, which is high as compared to U.S. and Western Europe. Therefore, consumers are expected to increase leisure spending including, visiting the restaurants and pubs. This trend is expected to increase the consumption of products including premium lager over the next few years.
On-trade channels are expected to reach a value of more than USD 135 million by the end of 2025. Over the past few years, companies including B-Dubs and The Bar Stock Exchange are coming up with new bar joints and restaurants, providing an authentic experience of alcoholic products, including premium lager. Furthermore, rising inclination towards after-drinking culture and dine-out at a global level is expected to promote the visibility of bars as well as restaurants for lager in the near future.
Off-trade channels are expected to remain one of the key selling channels among the buyers in developing countries including China and India as they offer the products in retail prices. Furthermore, these channels attract the consumers through offering services including gift packages and combo packs. Growing popularity of after-drinking culture among the working class professionals as a result of hectic workstyle is expected to propel the consumers to utilize these channels for purchasing alcoholic drinks including premium lager from off-trade channels such as beer shops.
The industry is highly competitive in nature with the key market players including Heineken N.V, Constellation Brans, Carlsberg Breweries A/S, B9 Beverages Pvt. Ltd., and Anheuser-Busch InBev SA/NV. Product innovation is expected to remain a key critical success factor over the next few years. In September 2018,Woodpecker Distilleries & Breweries Private Limited launched a premium lager under the brand name, Blackfort, in India.
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Further key findings from the report suggest:
Conventional product types dominated the global premium lager market with an overall revenue share of 54.6% in 2018. This growth is due to easy availability and low price as compared to craft product types at a global level
The off-trade distribution channel is expected to expand at a CAGR of 5.0% from 2019 to 2025. These products are purchased through liquor stores, conventional stores, and hypermarkets
Europe held the largest market share in 2018. This trend is projected to continue over the next few years on account of predominant consumption of products in key markets including Germany, U.K., and France
Product innovation is expected to remain a critical success factor among premium lager manufacturing firms.
Grand View Research has segmented the global premium lager market on the basis of product, distribution channel, and region:
Premium Lager Product Outlook (Revenue, USD Billion, 2015 - 2025)
Premium Lager Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
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.
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