According to ZMR's recent study, "Craft Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2028," the industry delivers a complete analysis, including insights on the craft beer market prognosis. The research also contains a competitor and geographical analysis, as well as current market developments. In 2021, the worldwide craft beer market was worth US$ 103.85 billion. According to IMARC Group, the market would reach a value of US$ 200.62 billion by 2027, with a CAGR of 11.20 percent between 2022 and 2028.
Craft beer is an alcoholic beverage made by small or independent microbreweries using a particular hands-on approach. Lager, ale, wheat, sour, stout, hybrid, overproof, and spicy versions are all common. Craft beer can help to avoid heart disease, reduce stress, and improve cognitive function, among other things. It is currently gaining popularity throughout countries because to its different flavour from mass-manufactured beer supplied by huge breweries.
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As the novel coronavirus (COVID-19) problem sweeps the globe, we're keeping a close eye on market shifts and consumer purchasing habits around the world, and basing our current market trends and forecasts on the impact of this pandemic.
Market Developments:
The craft beer market is primarily driven by rising demand for low-alcohol beverages. Additionally, the increasing use of low ABV ciders, as a result of rising consumer awareness of alcohol unit intake, is accelerating market growth. Another key growth-inducing aspect is the growing number of cafes, hotels, and restaurants that are experimenting with recipes employing craft beer to offer distinctive menus to clients. Furthermore, several leading market players are introducing a broader range of flavours with enhanced tastes, such as spicy, sweet, sour, honey-like, fruity, and so on, in order to attract more consumers and extend their product portfolio, thereby bolstering the global market. Aside from that, the craft beer market is expected to be fueled by rising investments in R&D activities aimed at incorporating go-green technologies and innovative methods into the manufacturing process of the product to emphasise sustainable sourcing and minimise water usage over the forecasted period.
Key Players in the Competitive Landscape:
The competitive landscape of the market was also examined in the analysis, with some of the prominent competitors 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
Craft Beer Market Segmentation:
The market has been segmented by geography, product type, and application in our report.
by Product Type:
● Ales
● Lagers
● Others
by Application
● Online
● Offline
Based on region, the Craft Beer market was investigated in the Americas, Asia-Pacific, Europe, the Middle East, and Africa. Argentina, Brazil, Canada, Mexico, and the United States are all included in the Craft Beer report for the Americas. California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas are all included in the Craft Beer report for the United States. Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand are all included in the Craft Beer report for Asia-Pacific. Finally, Europe, the Middle East, and Africa are investigated extensively. In this research, we look at craft beer in France, Germany, Italy, the Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, the United Arab Emirates, and the United Kingdom.
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The following are the report's main points:
• Performance of the Market (2016-2021)
• Market Prognosis (2022-2028)
• The Five Forces Analysis (Porter's Five Forces Analysis) is a method of
• Success Factors and Market Drivers
• SWOT Analysis
• Chain of Value
• Comprehensive Competitive Landscape Mapping
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