Market Size of Craft Beer Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 6.52 Billion liters |
| Market Volume (2029) | 10.03 Billion liters |
| CAGR (2024 - 2029) | 9.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Craft Beer Market Analysis
The Craft Beer Market size is estimated at 6.52 Billion liters in 2024, and is expected to reach 10.03 Billion liters by 2029, growing at a CAGR of 9% during the forecast period (2024-2029).
Post Covid-19 as the worldwide restrictions imposed on functional cafes and pubs were lifted, the mass consumption segment of craft beers, i.e., on-trade channels, came back to normal and witnessed a steady recovery rate. The off-trade distribution segment witnessed remarkable growth as the store and online alcohol sales soared across the world. Hence, the overall sales of craft beers steamed up again after the pandemic.
In the past, low-ABV beers have been mostly considered tasteless, but they are now getting a reboot by craft brewers. The scenario is much more 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.
The demand for low-alcoholic beverages has been rising with the growing interest of health-conscious consumers. Wider choices of the new product range by key players with improved taste and low alcoholic content in beer for those of 2.8% ABV and less are driving the market. However, the threat from other alcoholic beverages, like wine, is one of the major hindering factors to the craft beer market.
