With CAGR 6.00%, Beer Market will reach US$750.00 bn, Globally by 2022
Sarasota, FL -- (SBWIRE) -- 12/08/2017 -- Zion Market Research has published a new report titled "Beer Market by Product (Light Beer and Strong Beer), by Production (Micro Breweries and Macro Breweries), by Category (Premium, Super Premium and Normal) and by Packaging (Canned, Bottled and Draught): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022". According to the report, the global beer market was valued at approximately USD 530.00 billion in 2016 and expected to reach approximately USD 750.00 billion by 2022, growing at a CAGR of around 6.00% between 2017 and 2022.
Beer is one of the highly preferred alcoholic beverages across the globe. This drink is majorly brewed from ingredients such as yeast, water, hops and malted barley. Fermentable carbohydrates, of various types such as rice, wheat, maize, etc. are added to produce different styles as well as flavors. Beer style categories this alcoholic beverage by factors including ingredients, flavor, production technique, color, and origin.
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Changing lifestyle coupled with increasing disposable income across the globe are expected to drive the market growth over the years to come. Moreover, an increase in a number of local breweries is expected to have a positive impact on the beer industry. However, heavy taxation and increase in legal regulations coupled along with health issues are expected to pose a threat to the market growth in the near future. Nonetheless, high demand for beer among emerging economies especially in Asia Pacific region is expected to offer new opportunities for the growth of the beer market in the near future.
On the basis of product, the market can be segmented into light beer and strong beer. The demand for light beer is on rising due to rising in a number of female alcohol consumers especially in the age group of 21 to 30 years. The market for light beer is expected to grow at the fastest CAGR during the forecast period. Light beer is increasingly being preferred by the consumer due to its low calorie and low alcohol content.
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Breweries manufacturing beer can be either microbreweries or macro breweries based on the manufacturing capacity and size of the breweries. As a result of ease of setting up, microbreweries are expected to register noticeable growth during the forecast period. Based on category, beer can be classified as premium, super premium and normal. Consumers are increasingly opting to experiment with locally produced premium as well as super premium international beer varieties. Thus, these two segments are expected to grow at a noticeable growth rate during the forecast period. Premium beer segment is projected to grow at the highest CAGR during the forecast period.
Based on packaging, global beer market can be segmented into canned, bottled and draught beer. In line with the growing sales of beers, such as ales, new and flavored drinks in bottles are showing immense growth. However, with this acceleration, canned brews are projected to give intense competition to bottled and draught beer.
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The beer market was dominated by Asia Pacific and it held largest revenue share in 2016. Asia-Pacific region is expected to grow at the highest growth rate during the forecast period. There has been a significant increase in the demand for beer in the developing countries of Asia-Pacific region. Changing lifestyle is primarily driving beer market in this region. Asia Pacific was followed by Europe and North America in terms of revenue in 2016. Europe and North America market are expected to grow at a moderate growth rate due to increase in a number of legal regulations and increasing health concerns. Latin America is another key regional market and is expected to witness substantial growth within the forecast period.
Key players present in this market include Anheuser-Busch InBev, SABMiller, Heineken, Carlsberg, China Resources Enterprise, Boston Beer, Tsingtao Brewery, Oettinger, Modelo, Molson Coors, Diageo, Yanjing Beer among others.
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