The global craft beer market size was worth $108,912 million in 2018 and is anticipated to be worth $186,590 million by 2025, with an annual growth rate of 8.0 percent between 2018 and 2025.
There has been an increase in demand for various traditional beers, including craft beer, during the last few years. Craft beer is one of the most common forms of beer produced by small brewers using a traditional or non-mechanized approach. Craft breweries are defined by the American Brewer Association (ABA) as “small,” “independent,” and “traditional.” A tiny craft brewery is defined as one that produces less than 6 million barrels of beer per year. In contrast, less than 25% of independent craft breweries are owned and controlled by members of the beverage alcohol business.
In several of the primary beer-consuming regions, a surge in demand for more beer styles, along with an increase in per capita income among target customers, has sparked demand for craft beer. Craft beer is usually more expensive than regular lagers. As a result, the worldwide craft beer market’s top clients are those with a higher income. Higher salaries not only boost the demand for more expensive goods, but they also increase the want for more variety. As a result, it’s not unexpected that the craft beer business has grown in recent decades as earnings in developed countries have risen dramatically.
Many government rules have been imposed on beer in general. Regulations serve a variety of purposes, including increasing government revenue through beer taxes, safeguarding consumer health, protecting society from alcohol misuse, lowering bread grain prices, and limiting market power. Similarly, governments have had to deal with a two-way interaction with rules and regulations as demand for craft beers has risen. In comparison to microbrewers, laws have either boosted or stifled craft brewing. On the other side, the expansion of craft brewing has resulted in regulatory improvements that have made it easier for craft breweries to open.
The craft beer market is divided into three categories: product type, application, and geography.
● Pilsners and Pale Lagers
● Specialty Beers
● Other Types
Europe dominates the craft beer market in terms of region. The consumption of various types of craft beers has increased throughout the region. Because of the increased demand for these types of beers, Europe now includes both regional and worldwide firms who are crucial in the growth of the craft beer market in terms of value.
Key Market Players
• Anheuser-Busch InBev
• Carlsberg Group
• Diageo PLC
• Dogfish Head Craft Brewery Inc
• Heineken Holding NV
• Squatters Pub and Beers
• Sierra Nevada Brewing Co
• The Boston Beer Company Inc
• United Breweries Limited
Key Advantages for the Craft Beer Industry:
● The study includes an in-depth analysis of the worldwide craft beer market, as well as existing and developing market trends and prospects.
● The research includes a full qualitative and quantitative analysis of current craft beer market trends as well as future projections to aid in the assessment of existing market prospects.
● An in-depth examination of the elements that drive and limit market growth.
● Following key product positioning and monitoring the major competitors within the market framework allows for a thorough market study.
● The research offers in-depth qualitative analysis of potential craft beer categories or geographies with strong growth prospects.
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