The global beer
market size is projected to grow from USD 768.17 billion in 2021 to
USD 989.48 billion in 2028 at a CAGR of 3.68% during the forecast period in
2021-2028. The growing alcohol e-commerce channel and rising personal
disposable income levels are expected to magnify market’s growth in the
forthcoming years. Fortune Business Insights™ has presented
this information in its report titled “Beer Market, 2021-2028”. The
market size stood at USD 743.84 billion in 2020.
Alcohol has been used in social engagements historically, and the
trend is still growing. The rising prevalence of alcohol socializations and
growing westernization among consumers are predicted to augment the growth of
the market in the coming years.
The unanticipated emergence of the coronavirus pandemic has
affected the market’s growth. The shutdown of bars and restaurants has
negatively impacted the alcohol industry globally. Additionally, the closure of
manufacturing facilities has affected the industry. The disruptions in global
supply chain networks have aggravated the situation. Nonetheless, the demand
for the product has expanded swiftly in 2021 due to the direct-to-consumer
channel. Online beer sales also increased during the pandemic. These trends are
likely to amplify the market growth in future.
Fortune Business Insights™ lists out all the beer market
companies that are presently striving to reduce the impact of Covid-19 pandemic
on the market:
InBev (Leuven, Belgium)
- Heineken N.V.
- China Resources
Breweries (Beijing, China)
- Carlsberg A/S
- Diageo Plc
- Molson Coors
Beverage Company (Illinois, U.S.)
- Boston Beer
Company (Massachusetts, U.S.)
- Asahi Group
Holdings Ltd (Tokyo, Japan)
- Kirin Holdings
Co. Ltd (Tokyo, Japan)
- Beijing Yanjing
Beer Group Corporation (Beijing, China)
The report highlights the latest technological advancements and
key trends of the market. It assimilates the challenges and restraints to
growth, and advises strategies to overcome those challenges. It incorporates
SWOT analysis. It showcases the COVID-19 pandemic impact on the market. It also
describes the consumption rates and patterns associated with the market.
Drivers & Restraints-
Improving Disposable Income Levels to Boost Market Growth
The rising disposable income levels in developing and developed
regions such as South America and Asia Pacific are likely to boost the
consumption of beer and other alcohols and favor market growth. Moreover, the
increasing adoption of westernized culture and modernization are expected to
augment the consumption and magnify the global market growth.
Alcohol has been used for socialization since ages. Beer is
favored by youngsters and millennials due to its low alcohol by volume. The
advent of consumer social status and growing diversified cultural consumer
groups are expected to augment alcohol socialization and complement market
Lastly, the growing trend of alcohol e-commerce is anticipated to
fuel the growth of the market. Online alcohol sales increased during the
pandemic, which is expected to amplify the market growth in future.
However, the strict laws and regulations regarding the advertising
and marketing of alcohol in various regions may hamper the market growth.
On the basis of type, the market is fragmented into lager, stouts,
ale, and others. On the basis of packaging, the market is bifurcated into metal
cans and glass bottles. On the basis of distribution channels, the market is
segmented into off-trade and on-trade. Geographically, the market is classified
into North America, Asia Pacific, Europe, South America, and the Middle East
Europe to Hold the Lion’s Share Due to the Presence of Several
Europe is projected to attain the largest global beer market
share. Beer is a crucial part of heritage, culture, and nutrition in Europe and
is cherished across all European countries. Europe hosts several small and
medium sized firms, including micro-breweries and the breweries functioning at
regional, local, and national levels. The numbers of these breweries are
increasing and are anticipated to favor market growth. Additionally, the rising
inclination of consumers towards low-alcohol products is expected to boost the
demand for the product and augment the market growth.
Asia Pacific is anticipated to rank second in global market. The
rising demand for premium alcoholic appeal and refreshing flavor profiles are
expected to drive the market’s growth. Additionally, the growing adoption of
westernized patterns is predicted to favor the market’s growth.
North America is likely to attain the third rank in global market.
The rising number of breweries and the evolving consumer preferences are
expected to aid the market growth in the region.
Key Players Adopt Ingenious Growth Strategies to Acquire Growth
The market is fairly consolidated and comprises several key
players operating internationally and domestically. They adopt various growth
strategies including new product launches, patents, partnerships,
collaborations, and others to augment their consumer bases and enhance their
market reach. For instance, Carlsberg Group A/S signed an agreement with
Bitburger Braugruppe in October 2020 to acquire the Wernersgruner brewery in
Germany’s Vogtland region.
Detailed Table of Content:
- Market Dynamics
- Key Insights
InBev launched Beck’s Ice Premium Lager in India. The super mild beer
offers 3.5% ABV and paved a way for a new category in this industry.
Browse Detailed Summary of Research Report:
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