Chocolate Beer Market Research Report: by Type (Chocolate Ale, Chocolate Lager), Packaging Material (Glass), Distribution Channel (on-premise and off-premise) and Region - Forecast till 2023
Pune, India -- (SBWIRE) -- 01/11/2018 -- Market Overview:
Chocolate beer is the combination of beer and chocolate and is mainly gaining traction among the chocolate lovers. It is a type of beer with the benefits of dark chocolate or cocoa. Chocolate beer holds the benefit of both dark chocolate and beer. Dark chocolate hold the benefits of lowering LDL cholesterol almost by 10% which is termed to be a significant reduction. Moreover, moderate consumption of beer decreases the risk of weight gain among women, reduce risk of hypertension, cardiovascular disease and heart failure.
The growth of chocolate beer market is mostly triggered by the growing demand among the millennial population. Increase in the number of craft breweries globally is boosting the growth of chocolate beer market. Moreover, increase in availability of chocolate beer in the pubs and bars of the developing countries is driving the growth of chocolate beer market.
The favorable government regulations in countries including Australia, New Zealand, Belgium, Mexico, China, and the U.K for craft beer is adding fuel to the growth of chocolate beer market. Moreover, increasing disposable income followed by rise in consumption of beer is another factor supporting the growth of chocolate market. However, drawback in the distribution of chocolate beer is a barrier to the growth of the chocolate beer market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 9.8% of chocolate beer market during the forecast period 2017-2023.
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Chocolate beer market is segmented on the basis of type such as chocolate ale beer, chocolate lager beer, chocolate stout's beer, and other chocolate beer. Chocolate ale beer is dominating the market. However, chocolate lager beer is estimated to have a substantial growth over the forecast period.
On the basis of packaging material, chocolate beer market is segmented into glass, paper, metal, and others. Among all, glass is the dominating packaging material in the market and is expected to grow continuously over the forecast period. However, paper segment is growing at a moderate rate over the forecast period.
Based on the distribution channel, chocolate beer market is segmented into on-premise distribution channel and off-premise distribution channel. Among all, on-premise distribution channel is dominating the market and is expected to have a continuous growth over the estimated period. However, off-premises distribution channel is gaining growth in developing countries.
The major players in the chocolate beer market
Anheuser-Busch InBev (Belgium)
The Boston Beer Company (U.S.)
G. Yuengling & Sons (U.S.)
New Belgium Brewing Company (U.S.)
Sierra Nevada Brewing (U.S.)
Stone Brewing (U.S.)
Bell's Brewery (U.S.)
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The global chocolate beer market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Europe is dominating the market followed by North America. Europe is anticipated to account for the largest market share based on high preference for flavored beer over any other alcoholic spirit. U.K, Germany, and Belgium are the major contributors in Europe for chocolate beer market. The U.S. majorly consists of the leading chocolate beer manufacturers and the continuous R&D followed by new product launches is driving the growth of chocolate beer market in North America.
Asia Pacific is the fastest growing region for chocolate beer market. India, China, Japan and Australia are the major contributors of the chocolate beer market in Asia Pacific. Growing consumption of beer in Africa has opened doors for chocolate beer in this region. Latin America is also expected to witness moderate growth in chocolate beer market over the forecast period.