Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global Craft Beer Market Size is Expected to Grow from USD 102.69 Billion in 2023 to USD 305.23 Billion by 2033, Growing at a CAGR of 11.51%during the forecast period 2023-2033.
Browse key industry insights spread across 215 pages with 110 Market data tables and figures & charts from the report on the Global Craft Beer Market Size, Share, and COVID-19 Impact Analysis, By Type (Lager, Pilsner, Ale, and Others), By Distribution Channel (Off-Trade and On-Trade), By Age Group (21-35 Years, 40-54 Years, and 55 Years and Above), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
Craft beer is made by small, independent brewers who prioritize flavor, quality, and traditional brewing techniques. These breweries frequently experiment with unusual ingredients and recipes because they value creativity and innovation. Craft beer is set apart by its variety of flavors and varieties that symbolize regional tastes and culture. It is also praised for its artisanal methods and sense of community. The market for craft beer is being driven by changing customer preferences for unique and tasty beverages, which is raising demand for locally brewed and handcrafted products. Demand for small-batch, handcrafted brews that appeal to millennials and younger generations has increased due to growing interest in premium beer experiences. The market is also being shaped by health-conscious consumers, who are drawn to craftsman brews that are organic and low in calories. However, the profitability of craft brewers is significantly hampered by the high initial expenses and ongoing operating costs they frequently face.
The lager segment is expected to hold the largest market share of the global craft beer market through the projected timeframe.
Based on the type, the craft beer market is classified into lager, pilsner, ale, and others. Among these, the lager segment is expected to hold the largest market share of the global craft beer market through the projected timeframe. Lagers have a reputation for being crisp and refreshing, have a lower alcohol content, and are ideal for casual drinking in warm weather. Premium ingredients and sophisticated brewing techniques are used by craft brewers to create premium lager. Craft brewers are introducing novel ingredients and flavors, pushing the boundaries of traditional lager. More people find this innovation appealing. Lager is also more convenient to use because it can be produced all year round and transported anywhere without losing its flavor.
The on-trade segment is predicted to hold a significant market share in the global craft beer market through the projected timeframe.
Based on the distribution channel, the craft beer market is classified into off-trade and on-trade. Among these, the on-trade segment is predicted to hold a significant market share in the global craft beer market through the projected timeframe. The on-trade distribution component frequently includes coffee shops, clubs, restaurants, bars, and lodging facilities. The strategy and procedures used in the off-trade sector are completely different from those used in this segment for product distribution and sales. Brewpubs, tasting rooms, and tiki bars have multiplied as a result of consumers' desire for a more upscale and pleasant experience. The global craft beer market is growing as a result of this trend, which also encourages millennials to embrace pub and bar culture.
The 21-35 years segment is expected to hold the highest market share of the global craft beer market through the projected period.
Based on the age group, the craft beer market is classified into 21-35 years, 40-54 years, and 55 years and above. Among these, the 21-35 years segment is expected to hold the highest market share of the global craft beer market through the projected period. Individuals between the ages of 21 and 35, also known as millennials, have contributed negatively to the growth of several companies based on the goods and services they offer. They have been the most important clients in the global market. To adapt to the shifting tastes of the millennial generation, craft beer producers have been consistently introducing new product offerings. Therefore, during the projected period, a rise in millennials is expected to present profitable prospects for the global craft beer market.
Asia Pacific is expected to hold the largest share of the craft beer market through the forecast period.
Asia Pacific is expected to hold the largest share of the craft beer market through the forecast period. In the Asia-Pacific area, the younger population is progressively consuming a diverse range of tasty beers. To accommodate consumers' shifting tastes, craft beers provide a wider variety of flavors and ingredients. Inspired by regional traditions and the desire for unique experiences, craft brewers throughout the Asia-Pacific area are experimenting with flavors and ingredients. Additionally, the expansion is further fueled by the establishment of industries in the Asia Pacific region by multinational companies who see its potential.
Europe is predicted to grow at the fastest CAGR of the craft beer market over the forecast period. The beer market in Europe has a solid foundation because of its long and rich brewing history, which established the global brewing culture. Customers are highly appreciative of quality beer and open to the creativity and diversity that craft brewers may offer. Europe is a financially well-built region, and millennials are willing to spend more on premium beers and the experience craft brewers offer. Europe has a solid footing in the craft beer market and wants a wide variety of craft beers, which are some significant factors for the growth of the market.
Competitive Analysis
Major key players in the craft beer market include Constellation Brands Inc., Bell's Brewery Inc., D.G. Yuengling & Son Inc., New Belgium Brewing Company Inc., Diageo Plc, Duvel Moortgat, Heineken NV, Oskar Blues Brewery LLC, Sierra Nevada Brewing Co., The Boston Beer Company Inc., Stone & Wood Brewing Co. (Lion Brewery Co), Anheuser-Busch InBev SA/NV, and Others.
Recent Developments
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the craft beer market based on the below-mentioned segments:
Global Craft Beer Market, By Type
Global Craft Beer Market, By Distribution Channel
Global Craft Beer Market, By Age Group
Global Craft Beer Market, By Regional Analysis
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