Craft Beer Market Trends and Forecast to 2025

Market overview:

The global Craft Beer Market is worth USD 1.09 billion in 2020, and it is estimated that it will reach a valuation of USD 189 billion by the end of 2025 at a CAGR of 14% during the forecast period.

Craft beer is a type of beer made by small, traditional, independent breweries. Craft beers make up the majority of the amount of alcoholic alcohol in conventional beer with flavors derived from fermentation and ingredients made in an innovative or traditional way. It is usually made with traditional ingredients like barley malt, and sometimes non-traditional ingredients are also added to make them unique.

Recent developments:

• In February 2018, a Belgium-based beer, Anheuser-Busch InBev SA / NV or AB InBev, introduced Lisa, a premium Italian beer in the UK.
• In April 2018, Ithaca Beer Co. launched a new beer, Brew York. This product is claimed to be the first commercially produced beer in New York State, brewed primarily with ingredients grown in New York.

Market Drivers and Restrains:

Growing consumer awareness of the availability of low alcohol content in different styles and flavors and volume ratios of craft beer will drive the growth of the global craft beer market for years to come. Increasing consumer preference for low-alcohol and premium aspects and exotic flavor profiles is expected to drive the global market for handicrafts in the future. However, the brewing process has evolved and the overall quality of the finished product has improved with increased use of high-quality raw materials. There has also been a shift in consumer preferences, and now it leans more towards regular beer. Craft beers have grown in popularity because consumers want to keep experimenting with different flavors of beer. The rapid growth of pubs and bars around the world is expected to drive the growth of the craft beer market through commercial distribution. Young consumers are primarily interested and attracted to the consumption of craft beer due to its high disposable income and diversity in terms of taste. Adoption of craft beer is increasing as consumers become more aware of the benefits of craft beer. The growing number of breweries around the world is driving the growth of the global craft beer industry. Strict government regulations regarding the sale of alcohol and high taxes can hamper the growth of the craft beer market on a global scale. The short shelf life of the product serves to slow down the growth of the market.

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Report is segmented as:

The craft beer market is segmented by type and distribution. By type, the market includes specialty beers Pilsner, Ale, Pale Lager, and more. Ales recorded the largest market share in 2019 due to the growing popularity of its products among young people. Depending on the distribution, the market includes on-trade and off-trade. Retail distribution refers to the sale or delivery of beverages to bars, pubs, clubs, and restaurants.

Geographical Segmentation:

Europe is expected to have a significant share of the global craft beer market in terms of volume and value in the coming years. The UK and Germany are the largest consumers of handicrafts and account for about 22% of the world's revenue share. North America is expected to see significant growth in the market in the future due to a growing preference for craft beer customers over liquor beer. The United States is expected to occupy a dominant market share in the North American craft beer market in the future. The Latin American craft beer market is expected to be the fastest growing region for the projected period as the penetration of craft beer increases in Mexico and Brazil. The Middle East and African craft beer markets are expected to show slow growth during the forecast period due to strict regulations on alcohol consumption in Islamic countries.

Key market players:

The key players in the global craft beer market are Gambrinus Company, Anheuser-Busch InBev, The Lagunitas Brewing Company, Stone & Wood Brewing Co., Boston Beer Company, D.G. Yuengling and Son, New Belgium Brewing Company, Sam Adams, Sierra Nevada and Bell's Brewery Inc.

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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