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The global beer market size touched USD 793.74 billion in 2022 and is predicted to reach USD 821.39 billion in 2023. The market is anticipated to touch USD 1,072.50 billion by 2030, recording a CAGR of 3.88% over 2023-2030.
Fortune Business Insights™ presents this information in its latest report titled “Beer Market Size, Share & COVID-19 Impact Analysis, By Type (Lager, Ale, Stouts, and Others), By Packaging (Glass Bottle and Metal Can), By Distribution Channel (On-trade and Off-trade), By Production (Macro brewery and Microbrewery), By Category (Standard and Premium), and Regional Forecast, 2023-2030”.
Beer has gained immense popularity in recent years as this beverage is low on alcohol and has many health benefits when taken in moderation. A growing percentage of millennials and Gen Z are increasing their consumption of beverages that have a low Alcohol by Volume (ABV), which has further boosted the sales of this drink. New brewing technologies are also being developed by prominent companies in developing countries. This has created a positive influence on the consumption of beer in these nations. Moreover, the rising demand for innovative beers that come in bold and unconventional flavors is expected to augment the beer market growth.
COVID-19 Pandemic Negatively Affected Product Sales Due to Closure of Restaurants and Bars
The COVID-19 pandemic wreaked havoc in many industries across the globe as supply chains were severely disrupted due to the imposition of movement restrictions and lockdowns. These restrictions forced restaurant and bar owners to shut down their operations, which dampened the demand for low alcoholic beverages, such as beer. A vast majority of retail outlets were closed during this period, which further hampered the sales of different types of beers. According to data published by The Brewers of Europe, the government-enforced COVID-19 measures had a disproportionate effect on restaurants and bars, causing a 42% decline in beer sales across the region. These factors negatively impacted the market forecast during the pandemic.
Growing Socialization to Boost Consumption of Alcoholic Beverages
Alcohol has always played an integral role in several social engagements and interactions. This trend is still gaining immense traction, especially after the COVID-19 era, as more people have started going outdoors to dine out at restaurants and visit pubs. This factor has spurred the production of bold flavored drinks to cater to the growing demand for beverages that come in unconventional flavors. Beer is considered one of the most popular alcoholic drinks, and the rising inclination toward beverages with low alcohol content will further boost the popularity of this product. This will again enhance the demand for this alcoholic drink in the coming years.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/beer-market-102489
Competitive Landscape
Strong Presence of Key Players to Boost Market Expansion
In the last few years, the global market has become highly consolidated, which has led to the launch of new products. The leading companies involved in this market are involved in several mergers and acquisitions with a variety of multinational brewing companies. Anheuser-Busch InBev is a top player in this industry. The prominent beer manufacturers in this market are increasing their focus on understanding the ongoing market trends & needs, achieving high production efficiency, and expanding their strong chain of distribution networks. Heineken N.V., Carlsberg A/S, China Resources Breweries, and Molson Coors Beverage Company are some of the other key players in this market.
Notable Industry Development:
List of the Companies Profiled:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 3.88% from 2023 to 2030 |
Unit | Value (USD Billion) |
By Type |
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By Packaging |
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By Distribution Channel |
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By Production
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By Category |
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By Geography |
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