The beer market is expected to garner $688.4 billion by 2020, registering a CAGR of 6% during the forecast period 2015-2020.
Portland, OR -- (SBWIRE) -- 06/13/2017 -- Global Beer Market is expected to garner$688.4 billion by 2020, registering a CAGR of 6% over the forecast period, 2015-2020, according to new research published by Allied Market Research.The significantly growing consumption in developing regions is largely fueling the market growth.
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The types of beer covered in this report are light and strong, of which, the strong beer holds a major market share. The largest consumption for strong beer is observed in the Asia-Pacific region, especially in India. The market for strong beer is estimated to grow rapidly over the forecast period accounting for a market value of $463.9 billion by 2020, registering a high CAGR of 6.5% during the forecast period. The global increase in the count of female drinkers has considerably supplemented the growth of the beer market. However, stringent government and tax regulations governing the alcoholic beverages industry would restrain the growth of this market.
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The market is further segmented into premium, super premium and normal beer category on the basis of pricing, in which normal beer accounts for the largest market share of around 43% of the global beer market. The segment for premium beer is expected to grow at a higher CAGR of 6.4% during the forecast period, as compared to super premium and normal beer. The growth would primarily be driven by the shifting consumer preference towards premium beer due to the high quality, and increasing affordability owing to the rising disposable income.
The categories for beer packaging include canned, bottled and draught beer, of which, canned beer accounts for the largest share, in terms of packaging, followed by bottled beer. The demand for canned beer is high due its easy storage and transportation, and the protection that it offers from the external heat.
Geographically, Europe contributes a major portion in the global beer market revenue. Developing economies such as China and India would largely contribute to the growth of this market. The Asia Pacific market should garner a revenue of $202.4 billion by 2020, growing at a CAGR of 7.3% over the forecast period 2015-2020.
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The market, based on beer production, is segmented into microbreweries and macro breweries. With a global change in drinking preferences, the demand for microbreweries is considerably increasing, and is anticipated to register a high CAGR of 9.3% over the forecast period, 2015-2020.
Key findings of Beer Market:
- The global beer market is rapidly growing due to increasing disposable incomes and changing lifestyles
- The segment for strong beer accounts for the largest share in the beer market, growing at a CAGR of 6.5% during 2015-2020
- The segment for premium beer would grow at a CAGR of 6.4% during the forecast period
- Europe accounted for the highest revenue generating region in the global beer market
- Asia-Pacific would prove to be one of the most profitable markets, in terms of growth. The market in this region is expected to reach $202.4 billion by the year 2020
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The growth of the beer market is supplemented by rising disposable incomes and changing lifestyles in developing nations. Companies are adopting product launch, acquisition, and partnership as key strategies to expand their market reach and gain a larger market share. The prominent companies profiled in the report are Anheuser- Busch InBev, SABMiller, Heineken and Carlsberg Group.