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Beer Market Size, In-Depth Qualitative Insights, Explosive Growth Opportunity, Regional Analysis by Fortune Business Insights

According to the report published by Fortune Business Insights™, the global beer industry was estimated at USD 768.17 billion in 2021 and is expected to hit USD 989.48 billion by 2028, registering a CAGR of 3.68% from 2021-2028. The report provides an extensive analysis of the market dynamics including drivers & restraints, major winning strategies, market size & projections, competitive landscape, and major segments.


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5 months ago | 3 min read
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According
to the report published by Fortune Business Insights™, the global 
beer industry was estimated at USD 768.17
billion in 2021 and is expected to hit USD 989.48 billion by
2028, registering a CAGR of 3.68% from 2021-2028. The report
provides an extensive analysis of the market dynamics including drivers &
restraints, major winning strategies, market size & projections,
competitive landscape, and major segments.



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.



 



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:




  • Anheuser-Busch
    InBev (Leuven, Belgium)

  • Heineken N.V.
    (Amsterdam, Netherlands)

  • China Resources
    Breweries (Beijing, China)

  • Carlsberg A/S
    (Copenhagen, Denmark)

  • Diageo Plc
    (London, U.K.)

  • 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)



 



Report
Coverage-



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 growth.



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.



 



Segmentation-



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 &
Africa.



 



Regional
Insights-



Europe
to Hold the Lion’s Share Due to the Presence of Several SMEs



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.



 



Competitive
Landscape-



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.



 



Industry
Developments-




  • November
    2020: Anheuser-Busch
    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:



https://www.fortunebusinessinsights.com/beer-market-102489



 



About
Us:



Fortune
Business Insights™ delivers
accurate data and innovative corporate analysis, helping organizations of all
sizes make appropriate decisions. We tailor novel solutions for our clients,
assisting them to address various challenges distinct to their businesses. Our
aim is to empower them with holistic market intelligence, providing a granular
overview of the market they are operating in.



Address:



Fortune
Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –



Mahalunge
Road, Baner, Pune-411045,



Maharashtra,
India.



Phone:



US:
+1 424 253 0390



UK:
+44 2071 939123



APAC:
+91 744 740 1245



Email: sales@fortunebusinessinsights.com



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