Craft Beer Market to Expand Rapidly; Evolving Lifestyle and Changing Lifestyle to Boost Market Growth

The global craft beer market size is projected to reach expansive growth by reaching USD 210.78 billion by 2028. Fortune Business Insights™, in its report titled "Craft Beer Market Size, Share & COVID-19 Impact Analysis, By Type (Ale, Lager, Pilsner, and Others), By Distribution Channel (On-Trade and Off-Trade), and Regional Forecast, 2021-2028." observes that the market stood at USD 95.23 billion in 2020 and is estimated to reach USD 102.59 billion in 2021. It is further projected to exhibit a CAGR of 10.83% during 2021-2028. Evolving consumer lifestyle, changing lifestyle and growing consumer preferences towards Cannabidiol (CBD) is likely to influence the growth of the market. 

BrewDog Announces Novel Range of Fungi-based Beers to Strengthen Revenues

BrewDog in collaboration with Schorschbrau launched its novel fungi-based beer range in September 2021. It is the company's strongest beer ranking at 57.8% ABV for satisfying consumer's demand for strong beers. The company plans to utilize its Eisbock traditional brewing method to offer optimal quality and taste to consumers. The company offers the beer in limited quantities on its website named BrewDog.com. This strategy may allow the company to satisfy its consumer's demand and attract a huge consumer base.

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

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

Emergence of Strong Beers and Incorporation of Flavors to Facilitate Market Progress

Rising popularity regarding strong beers and the adoption of flavors is expected to boost the drink's adoption. Manufacturers focus on incorporating several flavors such as malty & sweet, tart & funky, sour, fruit & spice, and others are expected to attract consumer demand. The rising socialization among the population is expected to boost the product's demand. Further, the emergence of several breweries is expected to boost the production of beers and enhance sales.

Breweries focus on boosting their production to solve supply chain problems and cater to consumer's needs. As per the Brewers Association, independent and small brewers in the U.S. produced approximately 26.3 million barrels of beer in 2019. These factors are likely to drive the market growth. 

Prominent Companies Operating in Market Announce Novel Products to Boost Brand Image

The prominent companies operating in the market launch novel products to satisfy consumer demand and boost their brand image. For example, B9 Beverages Pvt. Ltd. launched their limited edition craft beers under their Bira91 brand, in April 2021, to satisfy consumer's demand for exquisite and bold flavors. This strategy may enable companies to boost their brand image. Further, the adoption of technologically advanced production technologies may enable companies to reduce labor costs, boost productivity, enhance operational efficiency and satisfy organizational goals. 

Industry Development

• February 2020: B9 Beverages Pvt. Ltd. announced approximately 3 beers under its brand Bira91 in the U.K. This launch may expand the company's market reach.

Key Players Profiled in this 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.)


• DuvelMoortgat NV (Puurs, Belgium)


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


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

Further Report Findings-

• The market in Asia Pacific stood at USD 39.78 billion in 2020 and is projected to gain the largest portion of the global craft beer market share. Rapid urbanization and rising disposable income among the population are likely to boost the market growth.


• Evolving consumer lifestyles and rising per-capita income may boost craft beer's adoption. Furthermore, foreign culture's acceptance and trends of socializing are expected to boost craft beer's consumption. These factors are likely to facilitate growth in the region. 


• According to type analysis, the lager segment is expected to dominate the market because of the incorporation of light lager. Rising consumer preferences towards light malt taste are expected to boost market progress. 

Table of Segmentation