Market Drivers and restraints:
The rise in the number of breweries producing craft beer is fueling the growth of this market. The popularity of flavored beer among the millennial population is inducing demand for chocolate beer in the global market. Increasing availability of chocolate beer in brewpubs and restaurants in developing countries is adding to the expansion of the chocolate beer market.
The favorable regulatory framework facilitated by the government for craft beer production in various countries such as New Zealand, Australia, Belgium, Mexico, China and the U.K. is considered to be one of the important factors driving the expansion of the global chocolate beer market. However, limited distribution of chocolate beer and low availability of rich quality cocoa are likely to hinder the growth of the global chocolate beer market.
Market Segmentation:
The chocolate beer market has been segmented on the basis of type, packaging material and distribution channel. Based on type, the global chocolate beer market is segmented into chocolate ale beer, chocolate lager beer, chocolate stout beer, and others. Among these, the chocolate ale beer is dominating the global market owing to the increasing popularity and availability of different types of this beer such as IPA, pale ale and amber ale. However, chocolate lager beer segment is anticipated to project substantial growth in the global market during the forecast period.
Based on packaging material, the global chocolate beer market is segmented into glass, paper, metal, and others. Among these, the glass packaging segment is dominating the market and is anticipated to grow at a steady rate during the forecast period. Whereas the paper packaging segment is estimated to grow moderately over the forecast period.
Based on distribution channel, the global chocolate beer market is segmented into on-premises and off-premise. Increase in numbers of restaurants and brewpubs and rise in flavored beer consumption rate in European and American regions are leading to the rapid expansion of on-premises distribution channel in the global chocolate beer market.
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Detailed Regional Analysis:
Based on region, the global chocolate beer market is segmented into North America, Europe, Asia-Pacific and the rest of the world. Among these regions, Europe is dominating the global chocolate beer market wing to the increasing consumption of flavored beer in the countries of this region.
The chocolate beer market in North America is majorly driven by the presence of leading flavored beer manufacturers in this region. However, on the basis of the growth rate, Asia-Pacific region is considered to be the fastest growing region in the global chocolate beer market.
Increase in consumption rate of beer in Africa is anticipated to drive the chocolate beer market in this region. Latin America is anticipated to project moderate growth of the chocolate beer market during the forecast period.
Competitive Analysis:
The global chocolate beer market comprises of various small to large scale players that are competing in terms of product differentiation, promotion and distribution of the product. To sustain this competitive environment, the players are constantly evolving their products in terms of types and quality. In January 2018, Rogue ales and spirits, an agri-fermenter and brewery in Oregon (U.S.), has released the double chocolate stout beer with the enhanced flavor of earthy oats and hops with a rich chocolate truffle finish. This stout was launched in the market in February 2018.
The prominent players profiled in the global chocolate beer market are Anheuser-Busch InBev (Belgium), The Boston Beer Company (U.S.), D.G. Yuengling & Sons (U.S.), New Belgium Brewing Company (U.S.), Sierra Nevada Brewing (U.S.), Stone Brewing (U.S.), Bell's Brewery (U.S.).
