|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The craft beer market is projected to achieve considerable growth, registering a CAGR of 14.1% during the forecast period (2021 - 2026).
- The demand for low-alcoholic beverages has been rising with the growing interest of health-conscious consumers. Wider choice of the new product range offered by key players with improved taste and low alcoholic content in beer for those of 2.8% ABV and less is driving the market.
- Increasing penetration of craft beer among Asian consumers is expected to drive the market. However, the threat from other alcoholic beverages, like wine, is one of the major hindering factors to the craft beer market.
Impact of COVID-19 on the Market:
- Pertaining to the worldwide restriction imposed on the functionality cafes and pubs, the mass consumption segment of craft beers i.e. on-trade channels incurred an extended downfall during the year 2020. However, as the situation of COVID-19 has gradually improved, with lesser restrictions being imposed on foodservice channels, craft beer market is likely to gain back its elevating consumption levels from this year.
- As the culture of "Sit Home and Booze" got on the rise throughout the pandemic period, the off-trade distribution segment witnessed a remarkable growth, as store and online alcohol sales soared across the world.
Scope of the Report
The global craft beer market is segmented by type, distribution channel, and geography. Based on the type of craft beer, the scope includes Ales (pale, strong, Indian, brown, and Scottish styles), Lagers (Pilseners and Pale Lagers), and other types, which include wild/sour beer, wheat beers, stouts, bocks, hybrid, and other specialty beers. By distribution channels, the market is further segmented into on-trade and off-trade distribution. the off-trade distribution channel includes bars, restaurants, clubs and pubs, and similar channels. The off-trade distribution channel retailers are supermarkets/hypermarkets, specialty stores, wholesalers, and online channels.
|By Distribution Channel|
Key Market Trends
Growing Preferences for Low Alcohol by Volume (ABV)
There is a growing preference for low alcohol by volume beverages and the sales of no-alcohol and low-alcohol beers have been rising with the growing interest from health-conscious consumers and a wider choice of new ranges with improved taste. There is a trend toward low-alcohol beers and ciders, which is attributed to a growing awareness of alcohol unit consumption and the customers' willingness to try new beverages. This shift in trend is witnessed in the demand for low alcohol drinks by volume in the United Kingdom, where the sales of off-licenses and supermarkets have soared to a record high. Another driving factor is that the low-alcohol beers are now cheaper than their high alcoholic equivalents, for those of 2.8% ABV and less. The cost reduction would drive the market for low-alcohol beers, such as craft beer.
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Asia-Pacific to be the Fastest Growing Region
Countries in the Asia-Pacific region, such as China and India, are expected to witness the fastest growth in the market, due to its increasing demand for beer, disposable income of the people, urbanized population, expansion of key companies in many countries and increasing craft breweries across the region. In China, a series of studies have been conducted to assess and enhance the efficacy, effectiveness, and feasibility of the enzymes used in brewing which results in developed and formulated products, thus boosting the craft beer market.
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AB In Bev, Heineken NV, Constellation Brands, The Boston Beer Company, and Sieera Nevada are some of the key players in the market with their product innovation, in terms of flavours and packaging. In the past, low ABV beers have been mostly considered as tasteless, but are now getting a reboot by craft brewers. The scenario is much prominent in European countries like Sweden, where brewers are seeking to bring changes to the craft beer market. The craft beer industry is constantly changing, but with planning, breweries can prepare themselves for what the craft beer market demands.
- In July 2018, Kingfisher, which is one of India’s topmost beer brands had teamed up with Freedom, one of the United Kingdom’s original craft breweries, to create a pale ale targeted specifically at the Indian food occasion. Bombay Bicycle IPA launched it in July 2018 and was initially be exclusively available within the Indian Restaurant Channel.
- In February 2018, AB InBev’s venture capital division ZX Ventures opened a new brewery in Wuhan, China to tap into the rising demand for craft beer.
- In August 2017, Constellation Brands, Inc., announced its purchase of Florida-based Funky Buddha Brewery, reinforcing its strategy to lead the high-end beer segment in the United States. Funky Buddha is one of the fastest-growing craft brewery in Florida and produces bold craft beers made with high-quality ingredients.
Table of Contents
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threats of New Entrants
4.3.4 Threat of Substitute Product and Services
4.3.5 Competitive Rivarly In the Industry
5. MARKET SEGMENTATION
5.1 By Type
5.1.3 Other Types
5.2 By Distribution Channel
5.2.1 On-trade Channels
5.2.2 Off-trade Channels
5.3 By Geography
5.3.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.3.3 Asia - Pacific
188.8.131.52 Rest of Asia - Pacific
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle East & Africa
220.127.116.11 United Arab Emirates
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Market Share Analysis
6.3 Key Strategies Adopted
6.4 Company Profiles
6.4.1 Anheuser-Busch In Bev
6.4.2 Constellation Brands
6.4.3 Heineken NV
6.4.4 The Boston Beer Company Inc.
6.4.5 Oskar Blues Brewery LLC
6.4.6 D.G. Yuengling & Son Inc.
6.4.7 New Belgium Brewing Company Inc.
6.4.8 The Gambrinus Company
6.4.9 Stone and Wood Brewing Co.
6.4.10 Sierra Nevada Brewing Co.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Craft Beer Market market is studied from 2016 - 2026.
What is the growth rate of Craft Beer Market?
The Craft Beer Market is growing at a CAGR of 14.1% over the next 5 years.
Which region has highest growth rate in Craft Beer Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Craft Beer Market?
North America holds highest share in 2020.
Who are the key players in Craft Beer Market?
Anheuser-Busch InBev, Heineken NV, The Boston Beer Company Inc., D.G. Yuengling & Son Inc., Sam Adams are the major companies operating in Craft Beer Market.