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Asia Pacific is the leading region in the global beer adjuncts market. It is projected to grow at a CAGR of 7.19% during the forecast period. The global market for beer adjuncts is projected to grow from USD 58.06 billion in 2022 to USD 89.06 billion by 2030.
Beer consumption across Asian countries, such as China and South Korea, has increased rapidly in recent years as it is considered a social drink among millennials. Observing the immense growth potential in the Asia-Pacific region, international players are tapping the markets with innovative collaborations and business strategies. For instance, in April 2021, Lotte Chilsung Beverage Co., Ltd., a South Korean beverage manufacturer, collaborated with BTS for the Kloud beer brand.
Our report on the Asia Pacific Beer Adjuncts market covers the following countries – China and South Korea.
Growing Popularity of Craft Beers to Offer New Growth Opportunities
The demand for craft beer has shown a strong demand surge in recent years in China and South Korea. Craft beer production, for instance, began in China in the late 2000s owing to increased competition and shifting customer tastes. A similar trend was observed in the South Korean market, leading to increased regional microbreweries. According to Korean Craft Brewers Associations, in 2020, 156 microbrewers were operating across the South Korean market. Since 2015, nearly 100 new microbrewers have entered the market. The rising number of regional brewers thus propels the demand for craft beers and further pushes the beer adjuncts demand.
Emerging Demand for Premium Quality Beer Products to Accelerate Market Growth
Beer is one of the most popular alcoholic drinks consumed in the region. Beer consumption in China is increasingly becoming high-end, owing to the increasing party culture and social interaction. Furthermore, an increasing number of young professionals and affluent seniors willing to try new tastes within the category also boost the demand for premium beers in the market.
For instance, in February 2022, Budweiser Brewing APAC planned to promote more high-end beer in China. The rising demand for premium beers in the country, coupled with increasing demand for products with diversified tastes and quality, is one of the key factors in elevating premium beer production. It positively impacts the beer adjunct market.
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Increasing Consumer's Inclination toward Non-Alcoholic Beverages to Limit Market Growth
The consumption and sales of low-alcohol or non-alcoholic drinks are on the rise in China, fueled by increasing demand for healthy beverages. Consumers in China have been inclined towards less strong beer influenced by health and wellness considerations. Therefore, major producers have consistently worked on inventing more non-alcoholic beer offerings and standing out from the competition. The rise in demand for non-alcoholic beverages limits beer consumption, which hampers beer adjuncts' market growth.
In terms of the competitive landscape, Tsingtao Brewery Co., Ltd., Heineken N.V., and Hangzhou Cheerday brewery Co. Ltd are the key players in the Asia Pacific market. These players adopt strategies such as product innovations, expansions, and strategic partnerships in order to attain a competitive advantage in the market.
Other leading companies, such as HiteJinro Co., Ltd., Kirin Holdings Co., Ltd., and Anheuser-Busch InBev SA/NV, are also leading the market due to their strong distribution network coupled with a diverse range of portfolios in the beer industry. These companies are focused on strengthening their product portfolio and distribution network through strengthening the raw material supply chain, strategic collaboration, and partnerships to increase their market share in the Asia Pacific market.
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The Asia Pacific Beer Adjuncts market report provides qualitative and quantitative insights on the market and a detailed analysis of the Asia Pacific market size & growth rate for all possible segments in the market. Along with the Asia Pacific Beer Adjuncts market forecast, the research report provides an elaborative analysis of the regional analysis, market dynamics and competitive landscape. Various key insights presented in the global report are overview of the number of procedures, an overview of price analysis of types of products, overview of the regulatory scenario by key countries, pipeline analysis, new product launches, key industry developments – mergers, acquisitions & partnerships and, the impact of COVID-19 impact on the brewing market.
CAGR of 7.19% from 2023 to 2030
Value (USD billion)
Type; Form; and Country
Growing at a CAGR of 7.19%, the market will exhibit steady growth in the forecast period (2023-2030).
The emerging demand for premium quality beer and the growing popularity of craft beers are the major factors driving the growth of the market.
Tsingtao Brewery Co., Ltd., Heineken N.V., and Hangzhou Cheerday brewery Co., Ltd. are the major market players in the Asia Pacific market.
China dominated the market in 2021.
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