Global Craft Beer Market is valued approximately at USD 193.6 billion in 2019 and is anticipated to grow with a CAGR of more than 8.7% over the forecast period 2020-2027. Craft beer is discretely brewed batches of beer by minor, independent breweries. The beer is usually made with ingredients such as malt, yeast, enzymes, and hop, and are available in a varied range of flavors. Craft beer is a rich source of silicon, which plays a role in growing bone mineral density and prevents osteoporosis, risk of diabetes and Alzheimer. Moreover, Young consumers are mainly interested and attracted towards spending on craft beer consumption owing to higher disposable income, and variety in terms of flavor. Craft beer has grown its popularity as consumers tend to keep experimenting with various available flavors of beer. For Instance: As per All India Brewers Association, sales of craft beer will grow at 20 percent y-o-y, which is higher than 5-7 percent y-o-y growth in the craft beer market. Moreover, the increasing number of breweries across the globe is boosting the growth of the global craft beer industry. As per Company Sources, Bira91 had raised around USD 50 million from Sofina and USD 4.3 million from Sixth Sense Ventures in 2018. While, Witlinger that started its bottling unit in Chhattisgarh had raised an undisclosed amount from two HNIs and was planning to sell a minority stake in 2018 to raise $7 million. However, the low shelf life of the product acts as a restraint for the market growth over the forecast period of 2020-2027.
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The regional analysis of global Craft Beer market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing alcohol consumption and preference for Craft beer in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income and rising investment in Craft beer would create lucrative growth prospects for the Craft Beer market across Asia-Pacific region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type: Specialty Beers
Pilsners and Pale Lagers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Craft Beer Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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