According to IMARC Group latest report titled “Craft Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on craft beer market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global craft beer market reached a value of US$ 103.85 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 200.62 Billion by 2027 exhibiting a CAGR of 11.20% during 2022-2027.
Craft beer is an alcoholic beverage prepared by a non-mechanized procedure in a small brewery. It is a rich source of antioxidants, silicon, proteins, and vitamin B complex that provides numerous health benefits. It is a pleasing drink that is consumed in pubs and houses and is widely preferred due to its authenticity, taste, and brand value. In comparison to mass-produced beer, it has a richer flavor and distinctive taste since it is prepared in small batches with a special recipe. Some of the popularly consumed craft beer varieties include lagers, ales, wheat, wild, sour, stouts, and hybrid beers. There has been a significant increase in the demand for craft beer as it is manufactured using natural ingredients and has a higher alcohol by volume (ABV) content.
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The rapid outbreak of coronavirus disease (COVID-19) and the consequent implementation of mandatory lockdown restrictions had a negative impact on the global craft beer market. Due to the shutdown of numerous pubs, bars, and restaurants on account of the stringent lockdown regulations to prevent the spread of coronavirus, the demand for overall beer declined. Therefore, the craft beer market was adversely affected during the pandemic. Additionally, the disruption in the supply chain hampered the supply of raw materials and components, causing production delays, thereby hindering the market growth. However, the market regained momentum with the gradual ease of restrictions.
The rising popularity of alcohol-based beverages among individuals is driving the global market. Along with this, the increasing number of restaurants, lounges, bars, and pubs serving alcoholic beverages due to the growing socialization trends is fuelling the demand on the global level. Moreover, the emergence of numerous varieties of strong and flavorful craft beers, such as honey, sour, malty, fruit and spice and tart flavors, is creating a positive market outlook. Apart from this, the incorporation of go-green technology and continuous innovations in the craft beer manufacturing processes to minimize water usage and wastage are further supporting the market growth. Other factors , including the rapid urbanization and inflating disposable income levels of the masses, are also positively impacting the market.
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Anheuser-Busch InBev SA/NV
- Bell’s Brewery Inc.
- Constellation Brands Inc.
- G. Yuengling & Son Inc.
- Diageo Plc
- Duvel Moortgat
- Heineken NV
- New Belgium Brewing Company Inc.
- Oskar Blues Brewery LLC
- Sierra Nevada Brewing Co.
- Stone & Wood Brewing Co. (Lion Brewery Co)
- The Boston Beer Company Inc
Craft Beer Market Segmentation:
Our report has categorized the market based on region, product type, age group and distribution channel.
Breakup by Product Type:
Breakup by Age Group:
- 21–35 Years Old
- 40–54 Years Old
- 55 Years and Above
Breakup by Distribution Channel:
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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