The global craft beer market is marked by artisanal production, emphasizing unique, high-quality brews from small-scale breweries. Craft beers, rich in silicon, antioxidants, protein, and vitamin B complex, offer potential health benefits such as improved bone health, antioxidant protection, muscle recovery, and energy metabolism. Ales, lagers, and specialty beers cater to diverse tastes, providing beer enthusiasts with various options and combining enjoyment with potential nutritional advantages independent of specific market drivers.
Data Bridge Market Research analyses that the Global Craft Beer Market, which was USD 2.77 billion in 2022, is expected to reach USD 7.02 billion by 2030 and undergo a CAGR of 12.3% from 2023 to 2030.
"Rising consumer demand for unique flavors drive the market growth"
The rising consumer demand for unique and diverse flavors is a pivotal driver in the craft beer market. Renowned for their creativity, craft breweries consistently explore diverse ingredients, brewing methods, and styles in their quest for innovation. This dynamic approach results in a broad spectrum of distinctive and innovative beer options, catering to consumers seeking novel taste experiences. The market's growth is propelled by this consumer-driven desire for exploration, pushing craft brewers to push boundaries and create diverse, flavorful offerings to meet evolving preferences.
What restraints the growth of the global craft beer market?
" Rising taxation hamper the market growth"
Rising taxation poses a formidable constraint on the craft beer market, elevating production costs and retail prices and making craft beer comparatively more expensive than mass-produced alternatives. This price gap can deter price-sensitive consumers, limiting market expansion. Higher taxes burden smaller, independent craft breweries, impeding financial resources for essential aspects such as expansion, innovation, and marketing.
Segmentation: Global Craft Beer Market
The global craft beer market is segmented on the basis of product type, distribution channel, and age group.
- On the basis of product type, the global craft beer market has been segmented into ale, lagers, specialty beers, and others
- On the basis of distribution channel, the global craft beer market has been segmented into on- trade, and off- trade
- On the basis of age group, the global craft beer market has been segmented into 21–35 years old, 40–54 years old, 55 years and above
Regional Insights: North America is expected to dominate the Global Craft Beer Market
North America is expected to dominate the global craft beer market due to the craft beer movement originating in the U.S. The region boasts a highly developed craft beer industry with a substantial number of breweries, contributing to the market's growth during the forecast period. This historical foundation and industry maturity position North America as a key driver in the global craft beer landscape.
Asia-Pacific is expected to dominate the global craft beer market, experiencing rapid growth due to evolving consumer tastes, globalization, a burgeoning middle class, the rise of local breweries, emphasis on food pairings, youth appeal, tourism, health consciousness, and government support. These factors collectively contribute to the region's anticipated surge in the craft beer market during the forecast period.
Recent Developments: Global Craft Beer Market
- In August 2023, Lone Wolf, a renowned craft beer maker, introduced two new beer variants - Mavrick, a 100% malt lager, and Alpha, a Belgian Wit bier. launched in New Delhi, this event highlighted the brand's commitment to innovation. Both beers, boasting ABVs under 5%, showcase Lone Wolf's rapid success, focusing on quality ingredients for a distinctive craft beer experience
To know more about the study, visit https://www.databridgemarketresearch.com/reports/global-craft-beer-market
The Prominent Key Players Operating in the Global Craft Beer Market Include:
- Davide Campari-Milano N.V. (Netherlands)
- Diageo PLC (U.K.)
- Halewood International Limited (U.K.)
- Asahi Group Holdings, Ltd. (Japan)
- Accolade Wines (Australia)
- Bacardi Limited (Bermuda)
- Mike's Hard Lemonade Co. (U.S.)
- Castel Group (France)
- Suntory Holdings Limited (Japan)
- Anheuser-Busch InBev SA/NV (Belgium)
- The Brown-Forman Corporation (U.S.)
- United Brands Company, Inc. (U.S.)
- Pernod Ricard SA (France)
- The Miller Brewing Company (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global craft beer market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Craft Beer Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
