Market Slingshot:

The scope of the global Craft Beer Market was appreciated at US$ 85.02 billion in 2015. The range is projected to touch US$ 502.9 billion by 2025, growing at a CAGR of 19.9% for the duration of the forecast.

This is attributed to increasing consumer base in the developing economies like India; thanks to high disposable income and high millennial population. It has been reported that millennials are all the more enthusiastic with regards to trying out novel flavors and variants as compared to the other section of population. Plus, millennials’ spending power is on the higher note and likely to increase by leaps and bounds.

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Trends and Regional Insights:

The manufacturers are looking at the millennials to have a greater market share by launching novel products and coming up with marketing campaigns for attracting this segment. North America did account for the largest share as of 2017 and is expected to continue with the winning streak in the upcoming period as well. Europe comes in second; as cold weather calls for extra-consumption of beer (craft beer, in particular). Asia Pacific is expected to surpass Europe and North America due to the reasons stated above.

Market Segmentation:

The global craft beer market is segmented based on product and geography. By product, the segmentation states amber ale, pale ale, seasonal craft beer, IPA, and other craft beer. By geography, the same market says North America, Europe, Asia Pacific, LATAM, and MEA. The “Brewers Association”, a U.S.-based trade group, does define craft breweries as “exclusive, small, and traditional”. In the UK, the “Society of Independent Brewers (SIBA)” run the “Assured Independent British Craft Brewer” initiative to make sure that the beers carrying the “Independent Craft Brewer” logo turn out to be relatively independent, small, and brewing quality ones.

Players:

The players contributing to the craft beer market include Boston Beer, Duvel Moortgat, D.G. Yuengling & Son, Anheuser-Busch InBev, and New Belgium Brewing Company. They are looking toward inorganic growth to sustain themselves amidst competition.

Market Segment:

Craft Beer Distribution Outlook (Volume, Billion Liters; Revenue, USD Billion, 2014 - 2025)
    • On-trade
    • Off-trade

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The global Craft Beer Market is expected to reach USD 502.9 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness substantial growth over the forecast period on account of the rising demand for low alcohol by volume (ABV) and flavored beer.

The government in countries including Australia, New Zealand, Belgium, Mexico, China, and the UK are promoting the production of craft beer and incorporation of new breweries on account of the positive contribution of the industry towards economic development and employment generation coupled with the willingness of the consumer to pay extra for better tasting brews.

Australia, Belgium, Germany, U.S. and New Zealand are the major craft beer producing countries with over 65% of the overall production in terms of value as well as volume. Belgian is the most preferred beer among the major craft beer consuming countries owing to the premium quality, clean taste and rich flavor & aroma of the brews.

Furthermore, the number of brewers in the global market is growing significantly on account of the rising demand for the product. As a result, the demand for grains such as barley, wheat, yeast, sugar, and hops is increasing substantially. However, the alternative applications of the raw materials are expected to lower the bargaining power of the brewers.

The demand for the pale ale, IPA, and amber ale is growing as these three craft products are widely preferred by the consumers owing to the balanced composition of the raw materials in the product including malt, hops, water, and yeast.

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Further key findings from the report suggest:

• On-trade distribution of craft beer accounted for over 50% in 2015 of the overall volume share, which is primarily attributed to the high consumption of the product in restaurants, bars, and clubs in developed economies including UK, Australia, and Belgium
• Off-trade distribution of the product is expected to witness significant growth in developing economies as the consumer spending power in these countries is low with high price of the product in on-trade distribution outlets as compared to its counterpart
• Europe is expected to account for the largest market share in terms of volume owing to the high consumer preference for flavored beer over other alcoholic spirits. In addition, increasing demand for IPA and pale ale in the region is expected to have a positive impact on the craft beer market growth
• Middle East & Africa is expected to grow at a CAGR of 28.9% owing to the increasing penetration in South Africa. The growing consumer awareness about the wide range of flavors and styles of the product is expected to be a crucial factor for craft beer market growth in the country
• Key players in the craft beer industry include The Boston Beer Company, The Gambrinus Company, D.G. Yuengling and Son, Stone & Wood Brewing Co. and Chimay Beers and Cheeses. These major players compete on the basis of acquiring new markets and increasing their product portfolio.

Market Insight

The Craft Beer Market holds significant potential, providing huge opportunity backed by the growing popularity of craft beer as one of the most famous beverages in the world. Moreover, there has been a subsequent increase in the number of breweries to cater to the augmented demand from consumer’s side. Also, craft beer is the third most popular drink, just behind water and tea, with the consumption said to be growing substantially amongst the youth. Apart from this, craft beer has gained significant popularity with consumers wanting to experiment with various available flavors of beer.

Besides, focusing on the health benefits, moderate consumption of craft beer helps maintaining weight, preventing cardiovascular disease and heart failure coupled with reduction in the risk of hypertension. As craft beer is a rich source of silicon, it plays a stellar role in elevating bone mineral density, preventing osteoporosis, along with decreasing the risk of diabetes as well as Alzheimer. Also, several young consumers are attracted to spend on craft beer consumption due to higher disposable income, availability of craft beer in diverse flavors and the plethora of health benefits associated with it. In summary, all these factors will be stimulating the demand for craft beer in the coming years.

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Key Players:

Craft Beer Market Companies include

• Sweetwater Brewery (U.S.),
• Yuengling & Son Inc. (U.S.),
• DUVEL Moortgat USA (U.S.),
• New Belgium Craft Brewery (U.S.),
• Bell's Brewery (U.S.),
• Boston Beer Co. (U.S.),
• Deschutes Brewery (U.S.)

Industry News

January 2019 – Ontario Craft Brewers (OCB) has launched its Great Beer. Better Access. Campaign, with the goal of encouraging craft beer lovers to participate in the consultation for any potential changes in the alcohol retail landscape in the city. This will be in addition to making sure of any other changes that take place, such as more access to locally-made craft beer in Ontario along with more choice on where to buy craft beer.

Regional Outlook

Regionally, the global Craft Beer Market is segmented into the regions of Asia Pacific, Europe, North America, and rest of the world (ROW).

Among these, the region of North America is slated to maintain its leading position throughout the forecast period, growing at a CAGR of 6.88%. Growing acceptance and liking for flavored beer, combined with the increasing preference for low alcohol by volume (ABV) beverages seem to be the factors working in favor of the regional market growth. Asia Pacific is going to be the fastest growing region in the global craft beer market, expanding at a CAGR of 7.40%. The impressive market growth is the result of massive contribution by emerging nations like China, India, Japan as well as ASEAN countries.

The countries located in the region of Latin America are continuously offering ample opportunities for expansion to prominent players. In addition, the high consumption of alcoholic beverages in developing nations in Asia Pacific and Latin America will result in an elevated demand for craft beer in forthcoming years.

One of the main factors responsible for the growth of the market in Europe is the accelerated demand for craft beer in various countries located in central and eastern Europe. Moreover, the craft beer market in the region is predominantly concentrated in regions such as Western Europe and Southern Europe, with most of the consumption taking place in countries such as France, Italy, the United Kingdom (UK), Switzerland, Germany, Belgium, the Netherlands, and Spain.

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Industry Segmentation

The market for Craft Beer Market is segmented based on Type, and Ingredients.

The type-based segments in the global craft beer market are ale, lager, stouts & porters and others. Although ale is the dominating segment in the market, it is lager beer that will grow at the highest CAGR during the review period, backed by the growing demand for innovative beer.

Ingredient-wise, the market caters to malt and other cereal grain, enzymes, yeast, hops, and others. here, malt is leading the market, whereas hops is the highest growing segment.

According to a recent published report by BlueWeave Consulting, The Europe Craft Beer market projected to grow at a CAGR over 22% during the forecast period 2018-2025. According to the report, Germany, UK & Italy are the major countries dominate the Europe craft beer market.

Changing Consumer taste, rise in variation of beer product offerings, and increasing health concern propels the Europe Craft Beer Market.

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Shifting consumer’s preferences towards a healthy lifestyle is reducing excessive consumption of alcohol owing to increasing demand for beverages, and its great variety of styles, flavors & penetration of new market offerings as compared to usual beer options. Low ABV content of the beverage further balances these flavors and minerals, reducing the risk of cancer, diabetes, heart diseases. Recent self-grooming trend has influenced the younger population to adopt healthier beverages with low alcohol content like craft beer, backed by the influence of digital media.

Rising number of microbreweries across the Europe produces a small amount of beer but emphasize on the quality, taste and new product innovation according to the changing palate of beer drinkers. Thus, rising consumer preference for flavored and low ABV beer and increasing penetration of craft beer will propel the Europe craft beer market over the forecast periods.

Europe Craft Beer Market: Scope

On the basis of the Product, the Europe craft beer market is categories as Lager, Ale, Stout & Porter and Others. Lager craft beer dominates the Europe craft beer market. Based on the distribution channel the market is segmented into On-Trade and Off-Trade. The On-trade distribution channel is fastest growing channel in the Europe. Finally, the report covers the analysis of these segments across North, South, East, West, and Central region along with the qualitative analysis for market estimates that boosts the growth of the Europe craft beer market during the forecast period. Western accounts the largest market share in 2017 of total Europe craft beer market.

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Europe craft Beer Market Competitive Landscape

Companies such as BrewDog, Chimay Brewery, Duvel Moortgat Brewery, Boston Beer Company, Mikkeller Brewing Company, Beavertown Brewery, AF Brew, Asahi breweries, Himburgs Braukunstkeller, Buxton Brewery, Stone Brewing, Thornbridge Brewery, and Van Pur Brewery are the key players in Europe craft beer industry.

Market Segmentation: Europe Craft Beer Market

By Product

By Distribution Channel

Geographical Segments

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