(MENAFN- GlobeNewsWire - Nasdaq) Dublin, May 26, 2023 (GLOBE NEWSWIRE) -- The "craft beer market: global industry trends, share, size, growth, opportunity and forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global craft beer market size reached US$ 117.1 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 221.5 Billion by 2028 exhibiting a CAGR of 11.21% during 2022-2028.
Craft beer refers to a type of alcoholic beverage produced in a traditional or non-mechanized way by a small, independent microbrewery. Some commonly consumed craft beer varieties include lagers, ales, wheat beers, wild/sour beers, stouts, hybrid, and other specialty beers.
It is a rich source of silicon, antioxidants, protein, and vitamin B complex and, thus, offers several health benefits. It also has a richer and more distinct taste than the mass-produced beer manufactured by large breweries. In recent years, craft beer has gained traction across the globe as it is manufactured using natural ingredients and has a higher alcohol by volume (ABV) content and lower cost.
Craft Beer Market Trends:
The escalating demand for low-alcohol beverages and the rising number of health-conscious consumers represent the primary factors driving the market growth. Besides this, the growing number of restaurants, lounges, bars, and pubs serving alcoholic beverages due to the increasing socialization trends is another major growth-inducing factor. Additionally, there has been a significant shift toward low ABV beers and ciders due to the rising awareness regarding alcohol unit consumption among the masses. Along with this, consumers, especially the young population, are now willing to try out new beverages, which is catalyzing the product demand.
As a result, several key players are introducing a wider choice of flavors, such as sweet and sour, spicy, honey-like, and fruity, with enhanced taste to attract more consumers and expand their product portfolio. Moreover, the incorporation of go-green technology and innovative methods into the craft beer manufacturing process to minimize water usage and wastage is propelling the market growth. Other factors, including the rising popularity of non-alcoholic craft beer, ongoing research and development (R&D) activities, and changing consumption patterns, are also creating a positive outlook for the market.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global craft beer market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, age group and distribution channel.
Breakup by Product Type:
Breakup by Age Group:
21-35 Years Old
40-54 Years Old
55 Years and Above
Breakup by Distribution Channel:
Breakup by Region:
North America United States Canada Asia-Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Key Questions Answered in This Report
1. What was the size of the global craft beer market in 2022?
2. What is the expected growth rate of the global craft beer market during 2023-2028?
3. What are the key factors driving the global craft beer market?
4. What has been the impact of COVID-19 on the global craft beer market?
5. What is the breakup of the global craft beer market based on the product type?
6. What is the breakup of the global craft beer market based on the age group?
7. What is the breakup of the global craft beer market based on the distribution channel?
8. What are the key regions in the global craft beer market?
9. Who are the key players/companies in the global craft beer market?
| Report Attribute || Details |
| No. of Pages || 157 |
| Forecast Period || 2022 - 2028 |
| Estimated Market Value (USD) in 2022 || $117.1 Billion |
| Forecasted Market Value (USD) by 2028 || $221.5 Billion |
| Compound Annual Growth Rate || 11.2% |
| Regions Covered || Global |
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
5 Global Craft Beer Market
6 Market Breakup by Product Type
7 Market Breakup by Age Group
8 Market Breakup by Distribution Channel
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
Anheuser-Busch InBev SA/NV Bell's Brewery Inc. Constellation Brands Inc. D.G. Yuengling & Son Inc. Diageo Plc Duvel Moortgat Heineken NV New Belgium Brewing Company Inc. Oskar Blues Brewery LLC Sierra Nevada Brewing Co. Stone & Wood Brewing Co. (Lion Brewery Co) The Boston Beer Company Inc.
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Global Craft Beer Market Global Craft Beer Market Tags ale beer beer manufacturing breweries brewery brewing craft beer lager microbreweries microbrewery porter sour beer stout wheat beer id="media-image-1" loading="lazy" src=' />
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