According to IMARC Group latest research report, The global beer market size reached US$ 640.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 750.3 Billion by 2027, exhibiting at a CAGR of 2.7% during 2022-2027.
Beer is a carbonated, fermented alcoholic beverage that is brewed from malted cereal grains such wheat, rice, corn, and rye, yeast, water, and bittering hops. It is stored and packaged in metal cans and glass bottles and produced in macro-, micro-and craft breweries. It aids in improving heart health, controlling blood sugar levels, enhancing bones and muscles, and minimizing the risk of developing dementia, cancer, and heart attack. Due to its antioxidant properties, it can maintain cholesterol levels, boost memory, and prevent kidney stones. Nowadays, key players are incorporating kegerators for storing and dispensing beer and retaining its flavor, aroma, color, and texture. They are also financing promotional campaigns to increase their overall sales.
Covid-19 Impact Analysis:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Beer Market Trends:
The construction of commercial buildings including distilleries, microbreweries, cafes, restaurants, bars, and hotels currently ranks as one of the key factors boosting beer consumption globally. It can also be attributed to the collaboration of beer brands with these establishments to launch numerous endorsement programs. In addition, the increasing preference for premium alcoholic beverages on account of the emerging trend of socializing and parties among millennials, working professionals, and young adults is contributing to the market growth. It can also be accredited to the growing adoption of western drink culture.
Moreover, the rising product adoption as a cocktail ingredient in distilleries is driving the market. Apart from this, rapid urbanization, busy lifestyles, expanding purchasing power of individuals, and the growing penetration of the internet are driving the reliance on online shopping websites. These websites are offering convenience, vast catalog, fast shipping facilities, discounted deals, and innumerable payment options, which is creating a positive outlook for the market.
Furthermore, the increasing trend of gifting unique premium items is driving the sales of beer in innovative bottles and labels. Besides this, product manufacturers are introducing genetically modified organisms (GMO) and additive-free and organic and botanical flavored and fruit variants like strawberry, blueberry, chocolate, honey, hot pepper, smoke, and ginger to expand their product portfolio. These manufacturers are using high-quality ingredients and special brewing techniques to produce premium beers for a better drinking experience. They are also focusing on introducing less sugar content suitable for health-conscious consumers. Additionally, the increasing inclination towards beer, which has less alcohol content, for minimizing the risk of intoxication and controlling alcohol dependency is expected to propel the growth of the market in the coming years.
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Objectives of the study:
• To segment the global beer market share by product type, packaging, production, alcohol content, flavor and distribution channel, and Region
• To estimate and forecast the global market by region, namely, North America, Asia-Pacific, Europe, and Latin America and Middle East & Africa
• To estimate and forecast the market size in terms of value (USD 750.3 billion), at global and regional levels
• To analyse the key market drivers, restraints, growth, opportunities, and challenges influencing the global market
• To identify the profile of the top key market players and analyse their core competencies in each segment of the global market.
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