Global craft beer market expected to reach USD 92,230 million by 2025, at a CAGR of 13.7% between 2019 and 2025. Increasing consumer preference for low alcohol and premiumization aspect and its exotic flavor profile is expected to drive the global craft market in the future.
Sarasota, FL -- (SBWIRE) -- 04/10/2019 -- Zion Market Research has published a new report titled "Craft Beer Market By Type (Specialty Beers, Ales, Pilsners, and Pale Lagers, and Others) and By Distribution (On-Trade and Off-Trade): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2018—2025". According to the report, the global craft beer market was valued at USD 37,540 million in 2018 and is expected to reach USD 92,230 million by 2025, at a CAGR of 13.7% between 2019 and 2025.
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Craft beer is a beer type made by a brewer that is independent, small, and traditional. It is generally made by using traditional ingredients, such as malted barley and sometimes non-traditional ingredients are also added for distinctiveness. Craft beer has a majority of its beverage alcohol volume in beers whose flavors are derived from innovative or traditional brewing fermentation and ingredients. Increasing consumer preference for low alcohol and premiumization aspect and its exotic flavor profile is expected to drive the global craft market in the future.
The craft beer market is classified into type and distribution. By type, the market includes specialty beers ales, Pilsners and pale lagers, and others. Ales held the largest market share in the year 2017, owing to the growing product popularity among the youngsters. By distribution, the market includes on-trade and off-trade. On-trade distribution is referred to sealing or offering drinks in pubs, bars, restaurants, clubs, etc. The rapid growth of pubs and bars across the globe is anticipated to strengthen the growth of craft beer through on-trade distribution. Nevertheless, the high cost of craft beer through on-trade distribution than off-trade might create hindrances in the growth of the global craft beer market over the forecast period.
By region, Europe is anticipated to account a major share of the global craft beer market in terms of both volume and value in the years ahead. Consumer preference for flavored brews coupled with large product consumption is anticipated to drive this region's craft beer market growth within the forecast period. UK and Germany are the largest consumers of craft accounting for around 22% of the global revenue share. North America is estimated to exhibit significant growth in the market in the future, owing to the increasing preference for customers of craft beer over mainstream beer variants. The U.S. is anticipated to hold a dominant market share of the North American craft beer market in the future. The Latin American craft beer market is anticipated to be the fastest growing region over the estimated timeframe, owing to the increasing penetration of craft beer in Mexico and Brazil. The wide range of flavors with Low Alcohol by volume (ABV) is estimated to be the major driving factor for the craft beer market in these countries. The Middle Eastern and African craft beer market is anticipated to show sluggish growth over the forecast period, owing to stringent regulations over the consumption of alcohol across Islamic countries.
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Some key players of the global craft beer markets are The Gambrinus Company, The Lagunitas Brewing Company, D.G. Yuengling and Son, Anheuser-Busch InBev, New Belgium Brewing Company, The Boston Beer Company, Sierra Nevada, Stone & Wood Brewing Co., Sam Adams, and Bell's Brewery Inc.
This report segments the craft beer market as follows:
Craft Beer Market: Type
Pilsners and Pale Lagers
Craft Beer Market: Distribution Analysis
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Craft Beer Market: Region Analysis
The Middle East and Africa