The global beer market was USD 680.8 billion in 2021. The market is expected to expand at a compound annual rate of 7.1% between 2022-2031
Growing Need
Europe will hold the largest share of USD 257.00 Billion by 2020. Beer is essential to all European countries and vital to culture, heritage, and nutrition. The European Union is one of the most prolific beer-producing regions in the world. The Brewers of Europe 2019 reports that 368.682 hectolitres of beer have been consumed. Beer was made by approximately 11,048 European beer breweries. The European beer market has a wide range of structures. It is composed mainly of small- and mid-sized businesses. This includes microbreweries, as well as those that are local, regional, or national. There has been a rise in micro-breweries and small businesses in the past few years. This is an indication of the industry’s innovation potential. Europe has seen a drop in alcohol consumption and a reduction in harmful alcohol usage. Some people have switched to beer or low-alcohol nonalcoholic products. These consumer preferences are expected to boost the European market’s growth.
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The Asia Pacific is the second-largest. This region has a huge potential market for beer-makers and their products. Australia, China, and India dominate the region’s beer market. Anheuser Busch InBev states that the Asia Pacific region has the highest beer industry growth rate. It will contribute 53% to the industry’s growth from 2014-2025. People increasingly accept beer due to its fresh taste and alcoholic appeal. These consumers are more comfortable with westernized styles and more likely to eat out. This has driven the growth of regional on-trade beer channels.
North America was the third largest overall market. North America has the largest beer market in the world. A strong beer consumer association and an increase in beer breweries offer great growth potential. According to the Alcohol & Tobacco Tax & Trade Bureau(TTB), there were 6,406 locations for breweries across the United States in 2020. According to the U.S. brewery market, it was expected to sell around USD 100 billion in malt beverages to American citizens via retail beer shops by 2020. The rising popularity of beer within the region can directly be attributed to the growing demand by millennials, young workers, and other demographics. It is because of their changing taste preferences and different beer-drinking experience. Changes in consumer preferences and increased demand for low ABV ales will drive ale sales to increase over the next few decades.
Driving Factors
Westernization and growing disposable income drive beer consumption.
In developing countries such as South America, Asia, and South America, improved economic conditions have increased disposable income per capita. The consumer’s disposable income determines the overall growth of the alcohol beverage industry. Kirin Holdings Co., Japan’s top beverage company, stated that global beer consumption rose for the second year in 2019, thanks to strong demand in Asia/Africa and their economic growth. Global beer consumption increased 0.5% to 189.05 MILLION Kiloliters. This increase was due to people in Asia drinking more beer, with increases of 0.7% and 5.2%, respectively, year-over-year. The increased acceptance of westernized culture and the increased modernization among consumers have increased global product consumption.
To promote market growth, increasing alcohol consumption among consumers
The role of alcohol has been a central part of the lives of people for centuries. This trend continues to grow with an increasing demand for bold, flavor-infused drinks. Beer is a highly-popular alcoholic beverage. Beer is very much in demand among millennials and young people. Worldwide, beer drinking is rising due to its growing popularity among many cultural groups and rising consumer social status.
Restraining factors
Restricted Provincial Acts in Marketing & Advertising Beer in many Regions of The World Hamper Growth
The global alcohol market has had a difficult time marketing alcoholic beverages in ways that promote healthy living. The United Kingdom has banned beer promotion in several major international markets, including India, China, and Japan. Restrictions hamper the market growth in provincial marketing. Surrogate marketing allows manufacturers to advertise their products by hiding behind other products.
Market Key Trends
Preference for low alcohol by volume (ABV)
Two major reasons for the growth in global beer markets are the increase in beer breweries and rising beer demand. As a result, the preference for beverages with lower alcohol per unit is steadily increasing. People who are conscious about their health are increasing their preference for non-alcohol and low-alcohol beer. Innovation is a key factor in market growth. Low-alcohol beverages can be more affordable than their higher-alcohol counterparts, especially when they contain 2.8% ABV. This is more common in European countries like Sweden, where brewers aim to increase low-alcohol beer sales.
Latest Development
Stella Artois’s unfiltered Anheuser Busch InBev’s original product was launched in February 2022. Standard Stella Artois has 4.6% ABV. The cans come in six- or twelve-packs, 33-cl cans, and 64-cl cans.
Heineken Original was updated in March 2021 by Heineken, which introduced new slim cans. The 12 oz slim cans are available for purchase. 6-packs and 12-packs. You can get 18-packs or 24-packs. serving.
Carlsberg unveiled a new beer container on February 20, 2021. It decreased carbon emissions by 90%
Key Companies
- TsingTao
- INDIO
- Heineken
- Coors Light
- Brahma
- Hardin
- Yanjing
- Skol
- Budweiser
- Bud Light
- Snow
- Kindfisher
- STROHS
- TECATE
- MGD
Key Market Segments
Type
Twopenny
Brown Beers
Dark Beer
Application
- Household
- The Hotel
- KTV
Commonly Asked Questions
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Related report:
The market for Gluten-Free Beers in the World Growth Potential Share Demand and Analysis Of Key PlayersResearch Forecast To 2031
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