Global Beer Market Size to Worth US$ 915.4 Bn by 2028 at a CAGR of 3.5% | Rising Social Drinker to Drive the Market Growth | Vantage Market Research
WASHINGTON, Sept. 22, 2022 (GLOBE NEWSWIRE) -- According to the report published by Vantage Market Research’s, the Beer Market generated USD 744.7 Billion in 2021, and is projected to reach USD 915.4 Billion by 2028, registering a CAGR of 3.5% from 2022 to 2028. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Key Industry Findings & Insights from the report:
The global Beer Market was valued USD 744.7 Billion in 2021 and is all set to surpass USD 915.4 Billion by 2028, exhibiting a CAGR of 3.5% during the forecast period 2022-2028.
In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
Asia Pacific captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Beer industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
List of Prominent Players in the Beer Market:
Anheuser-Busch InBev
Beijing Enterprises Holdings Limited
Carlsberg Group
Diageo PLC
Dogfish Head Craft Brewery Inc
Heineken Holding NV
Squatters Pubs and Craft Beers
Sierra Nevada Brewing Co.
The Boston Beer Company Inc
United Breweries Limited
Market Dynamics:
Drivers:
Escalating Consumption of Alcoholic Beverages as well as Rising Adaption of Beer Market Owing to Continuous Innovative Taste, Flavours, Packaging, and Others
For the past few decades, the prevalence of alcohol consumption has been increasing at its unprecedented level. According to the National Survey on Drug Use and Health (NSDUH), in 2019, 85.6% of people ages 18 and older reported that they drank alcohol at some point in their lifetime, 69.5% reported that they drank in the past year, and 54.9% reported that they drank in the past month. Additionally, increasing urbanization is further propelling the adoption of the Beer Market, especially among the youth. Moreover, an increasing population across the globe as well as increasing disposable income of people is increasing the alcohol consumption prevalence. Hence, driving the market growth over the forecast period.
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Segmentation of the Global Beer Market:
Type
Lager
Ale
Stout & Porter
Malt
Others
Category
Popular Priced
Premium
Super Premium
Packaging
Glass
Bottle
Can
Others
Production
Macro Brewery
Micro-Brewery
Craft Brewery
Others
Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Increasing Investments from Major Players for Regional Expansion as well as Manufacturing
The beverage industry has witnessed significant growth in the past few decades. The factors such as lager, ale, stout & porter, malt, others, as well as various flavors and the presence of attractive packaging such as glass, bottles, cans, and others with attractive colors are further increasing the acceptance and consumption of the Beer Market. Thus, to grasp the opportunity, the production capacity has to be increased. The major players engaged in the markets are investing their money on regional expansion and increasing manufacturing of Beer Market. Hence, driving the market growth over the forecast period.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the beverage industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
Impact Assessment of COVID-19 Pandemic
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
Key Strategies Undertaken by Companies to Tackle COVID-19
Long Term Dynamics
Short Term Dynamics
Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on "Beer Market Size, Share & Trends Analysis Report by Type (Lager, Ale, Stout & Porter, Malt), by Category (Popular Priced, Premium, Super Premium), by Packaging (Glass, Bottle, Can, Others), by Production (Macro Brewery, Micro Brewery, Craft Brewery, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
The Report on Beer Market Highlights:
Assessment of the Market
Premium Insights
Competitive Landscape
COVID Impact Analysis
Historic Data, Estimates and Forecast
Company Profiles
Global and Regional Dynamics
Regional Analysis:
Europe Holds Maximum Market Share
Europe is expected to dominate the growth of Beer Market in 2021. The major driving factors for the market are presence of major players in the region, increasing population seeking to drink Beer Market, and presence of a large base of disposable income population in the region.
Recent Developments:
February 2022: Anheuser Busch InBev launched Stella Artois Unfiltered. The standard Stella Artois has a 4.6%, abv and is available in six- and 12-packs of 33cl cans and 66cl individual cans.
March 2021: Heineken updated the style of Heineken Original and launched new slim cans. The slim cans are available in 12oz. 6-packs, 12-packs, 18-packs, and 24-packs, at 5.0% ABV per 12oz. serving that replaced the previous 12oz cans on-shelf.
Key Questions Answered in The Report:
Which region will show the fastest and highest growth in the near future?
Which are the top five players and their weakness and strength of the Market?
What will be the future innovation in the upcoming six years?
Which application and product will lead the largest share of the Market?
What are the growth drivers, restraints and challenges of the industry?
What will be the CAGR and size of the Beer Market for the base year and forecast period?
This report titled “Beer Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Parameter | Details |
Market Size Provided for Years | 2016-2028 |
Base Year | 2021 |
Historic Years | 2016-2020 |
Forecast Years | 2022-2028 |
Segments Covered |
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Region & Counties Covered |
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Companies Covered |
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Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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