Global Craft Beer Market Assessment, Opportunities and Forecast, 2017-2031F

Global craft beer market was valued at USD 111.11 billion in 2023, expected to reach USD 239.91 billion in 2031, with a CAGR of 10.1% for the forecast period between 2024 and 2031. Several factors are responsible for driving the growth of the craft beer market and fueling their global expansion. The major focus of craft breweries is on flavors and the quality of beer. To ensure flavor and quality, manufacturers frequently make use of premium ingredients and unconventional brewing techniques. The diverse flavor profiles are created by mixing with quality ingredients, which draws the attention of customers to shift their preference from mass-produced standardized beer to craft beer. The feeling of authenticity and linkage of the beer with the culture of the respective area or region fascinates the consumers towards the market. In March 2024, Germany-based Krombacher Brewery launched its brand, Starnberger to reach the global audience. The brand showcases Bavarian beers and the culture of Bavaria with the main product Starnberger Hell, which is a genuine Bavarian style lager beer.

Craft breweries generally employ unique and creative brewing methods, pushing the limits of the components used. Various brewing methods develop unique flavor profiles which stimulate the interest of beer enthusiasts. These breweries, also known as microbreweries, have small-scale production facilities, which makes it comparatively easier for the customers to respond to the evolving tastes. Also, seasonal brews and limited-edition beers are easily brewed by these companies, generating consumer interest and demand.

Many craft breweries use brewpubs, taprooms, and digital channels to reach directly to their consumers. The direct interaction between the company and the consumers helps in building loyal customers for their brands, promoting a feeling of community.

The intricacies of craft beer varieties and the production methods encourage people to switch to craft beer to satisfy their desire for unique beverages. Additionally, companies are employing digital marketing channels and social media to advertise their offerings and interact with consumers. A strong internet presence is helping companies reach their targeted audience.

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