Global beer market expected to reach USD 750.00 billion by 2022, growing at a CAGR of 6.00% between 2017 and 2022.
Sarasota, FL -- (SBWIRE) -- 01/05/2018 -- Beer is an alcoholic beverage usually made from malted cereal grain such as barley and is flavored by adding hops. Fermentable carbohydrates, such as wheat, rice, and maize, are added to produce different styles as well as flavors. Beer is one the oldest brewed and consumed beverages in the world with ever increasing demand from across the globe. Beer is most common alcoholic beverage preferred among both the genders. As a result of changing lifestyle, beer is globally seen as an alcoholic luxury beverage.
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The global beer market is expected to witness substantial growth within the forecast period. The market is mainly driven by changing lifestyle coupled with increasing disposable income across the globe. Moreover, an increase in a number of local breweries is expected to propel the market growth in the near future. However, heavy taxation and increase in legal regulations coupled along with health issues may hinder the market growth over the forecast period. Nonetheless, high demand for beer among emerging economies especially in Asia Pacific region is expected to open up new growth avenues in the near future.
Based on product type, beer is classified as the 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 sales, 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 are expected to show moderate growth during the forecast period 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.