The global beer market is being driven by the rising demand from developing countries and product premiumization supported by advancements in brewing techniques.
According to the latest report by IMARC Group, titled “Beer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global beer market size reached US$ 589.6 Billion in 2018. Beer is an alcoholic beverage made with hops, water and various cereal grains, such as wheat, rice, corn, and rye. The alcohol content in beer ranges from less than 3% to 40% alcohol by volume (ABV), depending upon the style and recipe of the formulation. Beer can help in preventing diseases related to the heart and circulatory system, including atherosclerosis, angina, stroke and heart attack, if consumed in a controlled manner. However, with increasing health concerns associated with the consumption of alcohol, the popularity of alcohol-free and low-alcohol beer is rising among consumers.
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Global Beer Market Trends:
One of the key growth drivers of the global beer industry is the premiumization of beer. Nowadays, manufacturers are using high-quality ingredients and special brewing techniques to produce superior products. Besides this, brewers are introducing new flavors, such as strawberry, blueberry, chocolate, peach and lemon, to enhance the taste and expand their consumer base. For instance, Natural Light, a reduced-calorie light beer brand by the American brewing company Anheuser-Busch, has recently launched Naturdays, a strawberry lemonade-flavored beer. Moreover, there has been an increase in the demand for beer, especially in developing countries, owing to the large young population pool. This has encouraged several international alcohol brands to invest in these regions. Looking forward, the market value is projected to reach US$ 692.1 Billion by 2024, growing at a CAGR of 2.7% during 2019-2024.
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Key Insights of the Global Beer Market:
Based on the type, standard lager is currently the most preferred product type, accounting for the majority of the global market share. Some of the other product types include premium lager and specialty beer.
On the basis of the packaging, the market has been segmented into glass, metal can, PET bottle and others. At present, glass containers represent the leading segment, holding the largest market share.
The market has been classified based on the production into macro-brewery, micro-brewery and others. Amongst these, macro-breweries dominate the market across the globe.
On the basis of the alcoholic content, the report finds that high alcohol beer exhibits a clear dominance in the market. High alcohol beer is followed by low alcohol beer and alcohol-free beer.
The market has been segregated into flavored and unflavored beer. Unflavored beer is currently the most preferred variant among consumers across the globe.
Based on the distribution channel, supermarkets and hypermarkets represent the largest distribution channel, followed by on-trades, specialty stores, convenience stores and others.
Region-wise, Asia Pacific enjoys the leading position in the global beer market. Other major regions are North America, Europe, Middle East and Africa, and Latin America.
The competitive landscape of the market has also been examined with some of the key players being Asahi Group Holdings Ltd., Anheuser-Busch InBev., Beijing Yanjing Brewery Company Limited, Carlsberg Group, Diageo plc, Dogfish Head Craft Brewery Inc., Heineken N.V., Sierra Nevada Brewing Co., Groupo Modelo., United Breweries Group, Oettinger Brauerei GmbH, Kirin Holdings Co. Ltd. and Molson Coors Brewing Company.
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