Market Size of Europe Beer Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 751.05 Billion |
| Market Size (2029) | USD 961.20 Billion |
| CAGR (2024 - 2029) | 5.06 % |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Europe Beer Market Analysis
The Europe Beer Market size is estimated at USD 751.05 billion in 2024, and is expected to reach USD 961.20 billion by 2029, growing at a CAGR of 5.06% during the forecast period (2024-2029).
The major drivers for the European beer market are changing lifestyles, consumption habits regarding alcoholic drinks, an increase in disposable incomes, and the popularity of beer among the younger generation. For instance, according to the Office for National Statistics (UK), the gross domestic product per head in the United Kingdom was GBP 33,497 in 2022. Innovative products, such as flavored and crafted beer, and the growing demand for imported beer are some of the opportunities for players in the market studied. Consumers are more interested in low to no-alcohol beers, giving a broad scope to the market. Europe has long been regarded as a desirable travel destination because of its diversity of cultures, traditions, and languages. According to the UNWTO Tourism Data Dashboard, approximately 303.1 million tourists arrived in Europe in 2021. Hence, most tourists prefer trying the regional beers available across the region, thereby driving the market studied.
Furthermore, the growing disposable incomes of consumers in Eastern European economies and increases in the demand for healthy versions of beer are expected to make this region more fruitful for the future growth of the market studied. The larger segment is expected to witness steady growth in Eastern Europe during the forecast period. Major companies are engaging in research and development to understand the changing demands of consumers and create innovative products. For instance, in May 2022, the first House of Peroni Nastro Azzurro in Italy began operation in Rome. The idea was inspired by arguably one of the most popular super-premium Italian beers in the world, which is claimed to represent genuine Italian style, taste, and culture. It is also gaining significant popularity among millennials and Gen Z due to its diverse formulations, flavors, and flavor offerings, which have helped propel the market's growth.
