Asia-Pacific Beer Market
Beer is the most consumed alcoholic drink, by volume, in the Asia-Pacific region, currently. This region alone holds 36% share of the global beer market and is also the fastest-growing market for beer consumption, globally. The Asia- Pacific beer market was valued at USD 196.08 billion in 2018 and is expected to reach USD 317 billion by 2023, growing at a 9.7% CAGR during the forecast period of 2018-2023.
The Asia-Pacific beer market is largely driven by factors such as changing lifestyles and consumption habits of alcoholic drinks, high disposable incomes, and popularity of beer among the younger generation. However, heavy taxation, legal regulations, and health issues of beer consumption are slowing the growth of the market. Innovative products, such as flavored and crafted beer, and growing demand for imported beer are further expected to help the market grow during the forecast period.
The Asia-Pacific beer market can be segmented by product type, category, packaging, and geography. Regarding product type, beer can be classified as light and strong beer. By category, it is segmented into premium beer, super premium and standard beer. In terms of packaging, canned, bottled and drought beer are major categories.
The Asia-Pacific region is the largest beer market in the world, with 36% of the global share. China is the largest consumer of beer in the region, followed by Japan, Vietnam, India and Thailand. The per capita consumption of beer in China is 40 liters, while India’s per-capita consumption stands at only 2 liters. In the Chinese market, premium and super premium beer, together, account for nearly one-tenth of the market demand.
The competition in Asia-Pacific beer market is reported to be high, mostly in China, India and Japan. China and India, are the fastest-growing markets for beer consumption and have the presence of a large number of global and regional players. The growing demand for beer in these countries is attracting many global brewers to expand their business in Asia-Pacific. Multiple product launches, innovative product packaging, flavored and crafted beers, huge marketing & promotional activities, and mergers and acquisitions with smaller level players have been strong business strategies for market growth in the region.
Top players of the Asia-Pacific beer market are -
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