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Craft Beer Market to Reach USD 190.66 Billion by 2027; Wide-range Availability of Craft Beers to Favor Growth

October 16, 2020 | Food & Beverages

The global craft beer market size is expected to reach USD 190.66 billion by 2027. The increasing consumer inclination towards innovative drinks will spur opportunities for the market, mentioned in a report, titled Craft Beer Market Size, Share & COVID-19 Impact Analysis, By Type (Ale, Lager, Pilsner, and Others), Distribution Channel (On-Trade and Off-Trade), and Regional Forecast, 2020 – 2027.” The market size stood at USD 89.25 billion in 2019 and is expected to exhibit a CAGR of 10.4% between 2020 to 2027.


Release of Bira 91 in the Uk to Promote Expansion


Bira, a renowned beer brand of India in big cities such as Mumbai, Delhi, and Bangalore offering flavourful beers for millennials at an affordable price than other craft brands. It was originated by B9 Beverages, with breweries in Belgium, which is now shifted to India. The company announced three beers under the Bira 91 brand that will be available in the UK. The flavorful beers will include, INDIAN PALE ALE: caramel malts, tropical, balanced, and bright’ brew finished with Pomelo fruit and New World hops with an abv of 4.5%, WHITE ALE: a cloudy wheat beer that comes in at 4.7% abv will be a moderate take on Belgian-style wheat beers, BLONDE LAGER: this lager brewed with two-row malted barley and finished with noble hops with crisp, and clean taste. It has 4.5% abv. These three ranges will be available in 330ml bottles with cans and a draught version on keg in the pipeline. The company plans to build its Indian heritage and its global sponsorship in the International Cricket Council to spread awareness of the beer. Thus, enlarging its production capacity and distribution across countries.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/craft-beer-market-100736


Launch of Strong Beers to Spur Demand


The introduction of numerous varieties of strong and flavorful craft beers such as honey-flavored, fruit & spice, sour, tart & funky, and malty & sweet flavors will boost its popularity and therefore, spur opportunities for the market. For instance, the added floral flavors such as chamomile, lavender, and elderflower add a subtle taste and smooth quality to the beers, along with balancing and complementing its flavor characteristics. The infusion of innovative flavors and new ingredients in beers will improve the prospects of the market in the forthcoming years. The enhanced sales and consumption of beers owing to new flavor options will enable speedy expansion of the market.


Rising Focus on Product Improvement by Eminent Players to Fortify Market


The major players such as The Boston Beer Company, Heineken NV, Constellation Brands, Inc., and Anheuser-Busch InBev, are actively in the industry are focused on strengthening presence in the global market. The adoption of strategies such as new product launches, incorporating new ingredients, and process improvements for their existing beverages will consolidate their position in the market. The prominent players are emphasizing strategic mergers to establish a strong footprint in the market. For instance, in May 2019, The Boston Beer Company and Dogfish Head Brewery signed a definitive merger agreement to enlarge its production for future developments.


The Report Lists the Main Companies in the Craft Beer Market:



  • D.G. Yuengling & Son, Inc. (Pennsylvania, U.S.)

  • Heineken N.V. (Amsterdam, Netherlands)

  • The Boston Beer Company, Inc. (Massachusetts, U.S.)

  • Constellation Brands, Inc. (New York, U.S.)

  • Anheuser-Busch InBev (Leuven, Belgium)

  • New Belgium Brewing Co. (Colorado, U.S.)

  • Sierra Nevada Brewing Co. (California, U.S.)

  • Duvel Moortgat NV (Puurs, Belgium)

  • Bell's Brewery, Inc. (Michigan, U.S.)

  • Dogfish Head Craft Brewery Inc. (Delaware, U.S.)


Further Report Findings:



  • Regional Analysis: The market in Europe is expected to dominate the global market owing to the growing demand for premium beers in the region. The growing consumption of craft ale is expected to enable speedy expansion of the market in the region.

  • Leading Segment: The craft lager segment is expected to hold the largest share in the global market owing to the availability of new styles and flavors light lager and pale. The abundance of options available in lager draws consumers’ attention, thus boosting the segment.


The global Craft Beer Market is Segmented into:














































  ATTRIBUTE


  DETAILS

Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



Segmentation



By Type, Distribution Channel, and Geography



By Type


 




  • Ale

  • Lager

  • Pilsner

  • Others (Wheat Beer, Specialty Beer)



By Distribution Channel


 




  • On-Trade

  • Off-Trade



By Geography


 




  • North America

    • By Type

    • By Distribution Channel

    • By Country

      • USA

        • By Type



      • Canada

        • By Type



      • Mexico

        • By Type









  • Europe

    • By Type

    • By Distribution Channel

    • By Country

      • Germany

        • By Type



      • France

        • By Type



      • Italy

        • By Type



      • Russia

        • By Type



      • The U.K.

        • By Type



      • Spain

        • By Type



      • Rest of Europe

        • By Type









  • Asia Pacific

    • By Type

    • By Distribution Channel

    • By Country

      • China

        • By Type



      • Japan

        • By Type



      • Australia

        • By Type



      • India

        • By Type



      • Rest of Asia Pacific

        • By Type









  • South America

    • By Type

    • By Distribution Channel

    • By Country

      • Colombia

        • By Type



      • Brazil

        • By Type



      • Chile

        • By Type













      • Rest of South America

        • By Type









  • Middle East & Africa

    • By Type

    • By Distribution Channel

    • By Country

      • South Africa

        • By Type



      • Gabon

        • By Type



      • Rest of the Middle East & Africa

        • By Type








Global Craft Beer Market
  • PDF
  • 2019
  • 2016-2018
  • 130

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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