Craft Beer Market Share 2018 | Regional Trend, Future Demand, Current and Future Plans | Industry Research Report
Apr 18, 2018
Global Craft Beer Market Information- by Type (Ale, Lager, Stouts & Porters and others), Ingredients (Malt, Yeast, Enzymes, Hops and others) and Region - Forecast to 2023
pune, India - April 18, 2018 /MarketersMedia/ —
Market Overview:
Due to the high popularity, changing preference among the alcohol and increasing demand associated to craft beer consumption, the market is growing at an incremental pace of development on the global stage.
Craft beer has gained its popularity as consumers want to keep experimenting with the various available flavors of beer. Considering today’s scenario, urbanization and increasing disposable income is considered to be the major drivers of this sector. Young consumers are primarily interested and attracted to spend on craft beer consumption owing to higher disposable income, diversity in terms of flavors and health benefits associated with it. Product promotions from microbreweries offering free craft beer tasting fests or campaigns in developing countries have gathered a huge consumer base from these countries.
Consumers’ inclination to meet the social dynamics and high influence of western culture in the developing countries has resulted in high sales of craft beer further resulting in increased market share. Fast pace of lifestyle, and consumer’s willingness to experiment with the alcoholic beverages is also identified to be a hidden factor behind the craft beer market share increase. However, government regulations and specific functional requirements are the major factors that might confine the growth of global craft beer market.
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Latest Industry Updates:
Feb 2018 United Breweries Ltd (UBL) announced their plan to enter craft beer market by the end of 2018. The strategy is to be implemented based on the consumers’ willingness to pay a premium for the brew. The strategy will also help in generating high revenue.
Jun 2017 Heineken N.V. acquired Lagunitas Brewing Company. The acquisition will allow the company to strengthen their product portfolio and expand their production capacity to meet the demands in the U.S.
May 2017 Anheuser-Busch InBev acquired North Carolina-based Wicked Weed Brewing. This will extent the company’s craft beer production capacity and will add to the Budweiser maker’s collection of higher-end ales. The company announced “Wicked Weed Brewing would join the company’s “High End” portfolio, which also includes AB InBev’s Stella Artois and craft brands acquired in recent years, including Elysian, Devils Backbone and Blue Point”
Feb 2017 Heineken N.V. announced the acquisition of Brasil Kirin Holding S.A. which is one of the largest beer and soft producers in Brazil. This will allow the company to extend their geographical footprints and strengthen their market position. The acquisition will result in Heineken to become one of the largest beer company in Brazil.
Competitive Analysis:
With companies aiming to capture a significant market share in the global craft beer market, the are constantly been found to indulge and invest hugely on the R&D sector in order to bring in innovations in their craft beer offering. Players are identified to have high inclination towards R&D sector in order to increase the shelf-life of their craft beer variety. Established players are also found to acquire microbreweries that produces craft beer based on its increasing consumer side demand. Due to the high profitability obtained from this sector, new players also seek to enter the global market and hence, tend to focus more on product differentiation.
The key players profiled in craft beer report are Heineken Boston Beer Co. (U.S.), Yuengling & Son Inc. (U.S.), New Belgium Craft Brewery (U.S.), Deschutes Brewery (U.S.), Bell's Brewery (U.S.), Duvel Moortgat USA (U.S.), and Sweetwater Brewery (U.S.) among many others.
Market Segments:
The global craft beer market has been divided into type, raw material, and region.
On The Basis Of Type: Ale, Lager, Stouts & Porters and Others
On The Basis Of Raw Material: Malt, Yeast, Enzymes, Hops, and Others
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
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Regional Analysis:
The global craft beer market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global craft beer market is highly dominated by North America due to high demand, production and consumption of craft beer in the region. APAC is fastest growing region due to changing lifestyle, increasing disposable income and consumers high willingness to meet the social dynamics. The consumption of craft beer in counties like India and Brazil and China is expected to grow at an exponential rate based on the new innovations companies are focusing on.
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Source: MarketersMedia
Release ID: 333161
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